How Zaffino was paid
$32.5M in total for 2025, as reported in the Summary Compensation Table. Equity awards are valued at grant, not at what they turned out to be worth.
Named executive officers
| Executive | Salary | Bonus | Stock | Options | Incentive | Other | Total |
|---|---|---|---|---|---|---|---|
| Peter ZaffinoChairman & Chief Executive Officer | $1,500,000 | — | $14,084,855 | $4,374,994 | $12,000,000 | $500,200 | $32,460,049 |
| Keith WalshExecutive Vice President, Chief Financial Officer | $1,000,000 | $1,250,000 | $1,964,266 | $624,994 | $2,600,000 | $94,566 | $7,533,826 |
| Rose Marie GlazerExecutive Vice President & General Counsel | $1,000,000 | — | $1,964,266 | $624,994 | $3,000,000 | $75,251 | $6,664,511 |
| Jonathan HancockExecutive Vice President, Chief Executive Officer, General Insurance | $1,084,793 | — | $2,304,165 | $733,173 | $3,778,426 | $108,495 | $8,009,052 |
| Claude WadeExecutive Vice President & Chief Digital Officer and Global Head of Business Operations & Claims | $1,000,000 | — | $1,571,349 | $499,995 | $3,550,000 | $81,506 | $6,702,850 |
What changed and why
- 32%Peter Zaffino received total compensation of $32,460,049 in 2025, representing a 32 percent increase from the prior year total of $24,638,373.
- $2BAIG generated more than $2 billion in underwriting income for the first time since 2008 and delivered net income per diluted share of $5.43.
- The company announced a leadership transition where Eric Andersen joined as President & CEO Elect to succeed Peter Zaffino by mid-2026.
- Named executive officers received annual short-term incentive awards under the STI Plan based on robust 2025 financial and operational performance.
- $6.8BAIG returned approximately $6.8 billion of capital to shareholders through $5.8 billion of stock repurchases and $1.0 billion in dividends.
About this page
Figures are automated and can be wrong; check the filing for the exact numbers. Totals follow SEC rules, which value stock and option awards at grant. Read the DEF 14A proxy statement for footnotes and the compensation committee's full reasoning.