CEOs at America’s largest auto and homeowners insurance companies took home huge salaries, bonuses, and stock options in 2025, while ordinary consumers struggled to pay premiums and often couldn’t get affordable coverage, a report by the Consumer Federation of America, or CFA, found. They received more than $155 million in total compensation, while at the same time, these 10 corporations used policyholder premiums to fund almost $12 billion in advertising and paid out at least $4.8 billion in dividends to their shareholders.
Auto insurance costs have increased 55 percent since February 2020, according to the Bureau of Labor Statistics. In 2025, insurance companies responded by rewarding their top executives with an 18 percent raise over their 2024 compensation.
“Insurance companies raised rates on their customers in 2025 and increased the paydays for their executives,” said Michael DeLong, research and advocacy associate for CFA. “Consumers are struggling to afford coverage, with no relief in sight, while their premium dollars are funneled into executive bonuses, unrelenting expensive advertising, stockholder payouts, and even private jets.”
The table below summarizes the publicly reported insurance executive compensation paid in 2024 and 2025, as well as the 2025 advertising expenses of the various insurers, 2025 shareholder dividends paid by insurers, and private jets maintained by the companies. Unless otherwise noted, the executive compensation data are from reports made to the Nebraska Department of Insurance, which requires insurance companies that sell policies in that state to provide information about the salaries, bonuses, and additional compensation of their CEOs and other top executives. Since the data reported to the Department of Insurance may exclude compensation paid to executives by affiliated insurance companies, it’s likely that the compensation figures below underrepresent what some of the executives actually earned.
Insurance CEO compensation
| Insurance Company | 2025 CEO Compensation | 2024 CEO Compensation | 2025 Insurance Advertising Expenses | 2025 Dividends Paid to Shareholders | # of Private Jets (as of 2026) |
| Allstate | $22,920,898 | $26,147,258 | $2,079,000,000 | $1,029,680,000 | |
| American Family | $10,719,604 | $7,475,126 | $237,000,000 | ||
| Berkshire Hathaway (GEICO) | $15,446,069 | $15,000,000 | $1,993,000,000 | ||
| Farmers | $6,299,151 | $5,100,068 | $168,000,000 | ||
| Liberty Mutual | $14,363,333 | $10,240,997 | $881,000,000 | 3 | |
| Nationwide | $20,043,430 | $15,845,201 | $177,000,000 | ||
| Progressive | $17,705,924 | $16,377,514 | $4,520,000,000 | $2,863,266,000 | 1 |
| State Farm | $10,198,539 | $4,412,867 | $1,140,000,000 | 4 | |
| Travelers | $24,094,488 | $21,533,227 | $91,000,000 | $924,984,000 | 4 |
| USAA | $14,133,961 | $9,610,174 | $603,000,000 | ||
| Totals | $155,925,397 | $131,742,432 | $11,889,000,000 | ||
Note: Progressive’s salary data is taken from their March 2026 statement to the Securities and Exchange Commission, available at https://www.sec.gov/Archives/edgar/data/80661/000119312526118537/d54152dars.pdf. Because Progressive allocates their CEO’s salary to affiliates that do not operate in Nebraska and do not report their data to the Department, the SEC’s filing is more comprehensive and accurate.
Table: Consumer Federation of AmericaSource: Nebraska Department of Insurance; Auto Insurance Report; Securities and Exchange Commission.data Created with Datawrapper
Private jets
Earlier this year, Brian Shearer of Vanderbilt Policy Accelerator reported on research showing that four of the top 10 companies selling home and auto insurance maintain 12 private jets. State Farm and Travelers each own four jets, while Liberty Mutual maintains three and Progressive owns one, according to PlaneSpotters.net.
Legislation needed
Pointing to Liberty Mutual’s advertising slogan – “you only pay for what you need” – the CFA calls on lawmakers across America to adopt strong “prior approval” oversight of insurance company rates. This oversight would require insurers to disclose and justify both their claim costs and their administrative expenses, including executive compensation, to state regulators. The California Department of Insurance has rule that limits the amount of executive compensation and advertising expenditures that can be passed on to policyholders in their insurance rates.
It’s as a model that other states should adopt, DeLong said.
“Drivers are required to buy auto insurance, and homeowners are required to buy insurance in order to hold a mortgage,” he said. “Lawmakers and regulators have a responsibility to make sure the premiums we are charged are reasonable.”
That includes protecting consumers’ wallets from extraordinary CEO pay packages and corporate excesses that are currently pushed onto our premiums, DeLong said.
