Cigna Corp. CEO David M. Cordani’s total compensation more than doubled in 2010, his first year as leader of the nation’s fourth-largest health insurer with operations in Bloomfield, and a period in which the company’s earnings, revenue and enrollment all climb, The Associated Press reports.
Cordani, 45, received compensation valued at $15.1 million last year from the Philadelphia managed-care company, according to an AP analysis of a regulatory filing.
That included a $1 million salary, a performance-related bonus totaling more than $7.3 million and stock and option awards adding up to $6.7 million.
Cordani’s pay package also included $48,733 for the installation and operation of a security system, which was installed at the executive’s home once he became CEO. Cordani, Cigna’s former president and chief operating officer, was appointed CEO Dec. 25, 2009. He started his tenure Jan. 4, 2010, following the retirement of H. Edward Hanway.
Cordani’s 2009 compensation package was valued at $6.5 million.
