American International Group Inc. AIG, -1.00% Chief Executive Brian Duperreault’s pay was cut in half from a year earlier when his compensation package included a $12 million sign-on bonus.
In his first full year as CEO, Duperreault earned $20.9 million, compared with $43.1 million in 2017, according to the company’s newest proxy filing.
Duperreault was paid a salary of $1.6 million, up from the $1 million he was paid for his 7½ months of service in 2017. He had long-term-incentive stock awards valued at $11.8 million, up from $11.2 million a year ago. He earned about $3 million of the $3.2 million available to him in a short-term incentive award, due to the company’s stock falling roughly 34% in 2018.
Duperreault ’s 2017 pay included two awards totaling about $28.2 million, including the $12 million sign-on bonus, to lure him from Hamilton Insurance Group Ltd., a Bermuda-based property-casualty insurer and reinsurer that he founded in 2013. Duperreault took over AIG — the same firm where he started his career — in May 2017.
An expanded version of this report appears on WSJ.com.
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