Cigna CEO sees compensation jump 25 pct in 2011

[unhappycamper]

http://www.mysanantonio.com/business/article/Cigna-CEO-sees-compensation-jump-25-pct-in-2011-3382446.php


Cigna CEO sees compensation jump 25 pct in 2011
TOM MURPHY, AP Business Writer
Updated 09:10 a.m., Monday, March 5, 2012

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.

Cordani, 46, received compensation valued at $18.9 million last year from the Bloomfield, Conn., company, according to an Associated Press analysis of a regulatory filing Monday.

That included the same salary Cordani received in 2010 — $1 million — and a performance-related bonus that climbed 27 percent to $9.3 million. Cordani's stock and options awards totaled nearly $8.5 million, also up 27 percent from the previous year.

The executive, who became CEO in 2010, also received $62,865 for security alarm installation and maintenance in 2011 after the company gave him $48,733 for the same thing the previous year.

[Lint Head]

1. CIGNA just recently got out of the Medicare business.

Private insurance companies bid for Medicare contracts every 5 years. CIGNA sold their contract to a carrier that is being sued by the Department of Justice for price fixing and other illegal activities. BCBS.