US pay czar to announce pay for AIG middle managers
Kenneth Feniberg, the Obama administration's pay czar will today reduce pay for the 26th to 100th highest-paid employees at the six firms still under his authority, including AIG, Reuters reports.
Feinberg's control has caused friction with insurer AIG, where top executives, including CEO Robert Benmosche, have reportedly considered quitting because of the pay constraints.
Feinberg's rulings will apply only to the final month of 2009, but will set the baseline for 2010. In his first wave, Feinberg cut overall compensation by 50% and cash pay by 90%. He said the rulings are designed to reward long-term performance.
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The 2025 Insurance Times Awards took place on the evening of Wednesday 3rd December in the iconic Great Room of London’s Grosvenor House.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Many congratulations to all the worthy winners and as always, huge thanks to our sponsors for their support and our judges for their expertise.
