The Hartford’s CEO Compensated $11.7 Million Last Year

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Liam E. McGee, chairman and CEO of The Hartford Financial Services Group, received an $11.7 million pay package last year, almost three times his 2012 compensation of $4.17 million, according to documents filed late Thursday with the U.S. Securities and Exchange Commission.

In 2013, McGee received $1.1 million in salary, $3.74 million in non-equity incentive pay, $330,315 in “other compensation,” $906,779 in deferred performance units granted in 2010 when The Hartford’s executive compensation was restricted as a part of the federal government’s Troubled Asset Relief Program, and $5.64 million in value realized from stock vested.

Separately, McGee was given stock-and-option awards worth $12.5 million at the time of distribution. Their ultimate value depends on the company’s future performance.

Chief Financial Officer Christopher Swift received a pay package totaling $4.7 million, not including stock-and-option awards worth $4.2 million, which will provide value in the future and depend on the company’s performance.

Douglas Elliot, president of Commercial Markets, received $2.53 million last year, not including stock-and-option awards valued at $4 million.

General Counsel Alan Kreczko received $2.38 million, not including stock-and-option awards valued at $2.2 million.

Chief Risk Officer Robert Rupp received $2.18 million, not including stock-and-option awards valued at $2.6 million.

About Matthew Sturdevant

Full-time staff journalist at The Hartford Courant and magazine freelancer with a master's degree in writing from Dartmouth. My work has appeared in The Los Angeles Times, The Chicago Tribune, Taiwan News, The Baltimore Sun and many other news sources. My blog has been referenced by Politico.com, the Kaiser Family Foundation, the Georgetown Law Library and a number of organizations in healthcare and business. Sturdevant’s blog is "a well-written wealth of ideas," said The Donald W. Reynolds National Center for Business Journalism, (businessjournalism.org, May 18, 2011). I have experience writing for newspapers, magazines, Web sites and blogs as well as shooting and editing video. I made regular appearances on news-talk radio and on the NBC affiliate station in Corpus Christi, Texas. I made occasional appearances on the Fox affiliate in Connecticut promoting Hartford Courant articles.

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