MetLife Inc. raised Steven Kandarian’s bonus 40 percent in his first full year as chief executive officer of the largest U.S. life insurer.
The bonus of $4.2 million last year compares with $3 million in 2011, the company said today in a regulatory filing. He became CEO in May of 2011, after previously serving as chief investment officer. Kandarian, 61, received total compensation of $13.7 million, up from $10.6 million in 2011 and $4.2 million in 2010.
MetLife boosted operating earnings, a measure of profit that excludes some investment results, by 22 percent last year. Shares of the New York-based firm added 5.6 percent in 2012, trailing behind Prudential Financial Inc., the second-largest U.S. life insurer, which gained 6.4 percent.
William Wheeler, 51, head of MetLife’s Americas unit, the company’s largest, got a $1.75 million bonus, $250,000 less than in 2011 or 2010, when he was chief financial officer. Steven Goulart, 54, the chief investment officer, received a $1.2 million bonus.