Travelers Cos., the lone property- casualty insurer in the Dow Jones Industrial Average, said Chief Executive Officer Jay Fishman’s bonus climbed 44 percent last year as return on equity improved.
Fishman’s bonus of $6.5 million compares with $4.5 million a year earlier, the New York-based company said today in a regulatory filing. His total compensation was reported as $15.7 million, including salary and stock and option awards.
Travelers advanced 21 percent last year, the sixth best performance in the 30-company Dow average. The ROE climbed to 9.8 percent from 5.7 percent in 2011. Fishman, 60, has been raising prices for coverage to counter losses from natural disasters and lower investment returns from the bond portfolio.
Top Travelers executives “performed at superior levels,” the insurer said in the filing. “This was particularly the case in light of the company’s strong 2012 results, driven in significant part by proactive steps to improve profitability.”
To contact the editor responsible for this story: Dan Kraut at firstname.lastname@example.org