Must Be Nice – Insurance Company CEOs In South Africa Are Earning...

The annual reports of the country’s high-flying life insurers show eye-watering executive pay packages.

Meanwhile, Old Mutual’s CEO Iain Williamson’s total remuneration grew by R6,8 million to R22 million, while the CFO Casper Troskie’s total pay increased by R4,4 million to R13,6 million. The report shows that their total pay packages were 45% and 49% higher, respectively. Proposed changes to the Companies Act could eventually force all businesses to report the gap between the lowest and highest paid in a company.

In 2022, the bottom 5% got an average increase of 11.75% from R166 292 per annum to R185 845, while the increase for its top 5% employees amounted to below 7%.

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