Cigna CEO Got Pay Boost In 2011
The compensation package of Cigna CEO David M. Cordani jumped 25 percent last year to $19.1 million.
The Associated Press: Cigna CEO Sees Compensation Jump 25 Pct In 2011
Cigna Corp. CEO David M. Cordani's total compensation climbed 25 percent last year, as the nation's fourth-largest health insurer launched a $3.8 billion acquisition, and its stock outperformed the broader market... Health insurers have taken criticism in recent years for giving their top executives big compensation hikes while the cost of insurance continues to outpace inflation and growth in wages. But insurers have said executive compensation makes up a small part of their total expenses, and the biggest driver behind the growing premiums for their coverage is the spiraling cost of health care (Murphy, 3/5).
Market Watch: Cigna CEO's Total Compensation Up 25 Percent
Cigna Corp. Chief Executive David Cordani received compensation valued at $19.1 million last year, up 25 percent amid a boost in bonus-related payments as the health insurer benefited from light traffic in hospitals and doctors' offices. Patients have using health-care services modestly since the recession, lifting earnings among managed-care companies because they have fewer patient costs to cover. Cigna shares rose nearly 15% last year, although some of its big competitors posted sharper gains (Kamp, 3/5).