Evan Greenberg, the chairman and CEO of Chubb, is at the top of the heap for the highest-paid insurance executives, according to a survey by trade publication Business Insurance.

BI pulled down 2024 compensation based on filings with the United States Securities and Exchange Commission to determine the highest-paid executives at the largest US-based or listed commercial property/casualty insurers.

Mr Greenberg also saw the highest percentage increase over 2023, up some 9 per cent, with compensation for the group moving in a relatively narrow band, the magazine reported.

He received a salary of $1.6 million, a bonus of $9.5 million, stock awards of $17.35 million and other compensation of nearly $1.7 million for a combined compensation package of $30,138,094.

At number two, Peter Zaffino, the chairman and CEO of American International Group Inc garnered total 2024 compensation of $24,638,373.

It is only 0.1 per cent higher than his 2023 package, but includes a salary of $1.5 million, stock awards of $10,339,947, option awards of $3,499,984, non-equity incentive of $9 million and other compensation of $298,442.

Alan Schnitzer, chairman and CEO, Travelers Cos Inc is third with a 2024 total compensation package of $23,059,498.

Higher than 2023 by 1.4 per cent, it consists of $1,450,000 in salary, $8.4 million in stock awards, $5.6 million in option awards, $7 million in non-equity incentive, nearly half a million dollars in change in pension value and an additional other allotment of $112,793.

At No 4 is Ajit Jain, vice-chairman, insurance operations, Berkshire Hathaway Inc with a salary of $21 million and other compensation of $17,250, representing a 5 per cent increase at $21,017,250.

Timothy Sweeney, president and CEO of Liberty Mutual Holding Co Inc, rounds out the top five with a $15,413,429 package (up 0.5 per cent).

Salary was placed at $1,386,538, a bonus included $3,614,625 and appreciation units amounted to $8,099,586. There were restricted units valued at $2,025,400 and other compensation of $287,280.