Ward Group is a dedicated team focused exclusively on the insurance industry. Armed with over 20 years of experience in the insurance sector and current market data, Ward Group conducts compensation surveys to help insurance organizations gauge the market and develop competitive HR practices and compensation plans.

Global Scale

Our insurance compensation data covers companies in the Property & Casualty, Life, Brokerage, P&C Reinsurance and Specialty sectors. Our annual surveys cover all forms of compensation measured across divisions, businesses, roles, and firm types and provide benchmark compensation data to analyze salaries and incentives for virtually every insurance position, as well as other key functions that support the business.

Property & Casualty
Insurance Firms

Life Insurance

Insurance Brokerage


Comprehensive Compensation Intelligence for Insurance Companies

Our survey structure provides compensation data for insurance and infrastructure functions. A sampling of our cross-survey functions include:

Insurance Roles
  • Top Management
  • Underwriting
  • Actuarial
  • Claims
  • Sales/Producers
Infrastructure Roles
  • Finance and Business Services
  • Communications and Marketing
  • Human Resources
  • Information Technology
  • Legal and Compliance
  • Risk Management
  • Treasury

Our compensation surveys can be combined with the firm's operational and financial benchmarks to help companies assess their pay levels, understand compensation relative to performance, and develop competitive compensation plans. Insurers and brokers can compare their compensation practices against customized benchmark groups, including top performers.

Property & Casualty Compensation Survey

Our Property & Casualty (P&C) Insurance Compensation Survey is sponsored by the National Association of Mutual Insurance Companies (NAMIC).

We cover key functions and positions in P&C firms which provide pay statistics on virtually all positions from the receptionist to the CEO. To view a full list of these functions, please click here.

To further capture pay distinctions, data is also broken out by firm size (direct written premium), firm type (stock versus mutual), and region.

Life Insurance Compensation Surveys

For life insurance companies looking to assess their employee pay levels and manage their overall compensation spending, we offer two compensation surveys designed to gauge the competitive U.S. market for the lion’s share of roles in the industry. Our Insurance Sales & Marketing Compensation Survey covers roles in the various sales and marketing functions found at a Life Insurance carrier, while our Management & Administration Compensation Survey covers support roles.

A sampling of functions covered include:

Insurance Sales & Marketing
  • Wholesaling/Product Specialists
  • Internal Wholesaling/Sales Support
  • Key Account Management
  • Group Sales
  • Product Management
To view a full list, please click here.
Insurance Management & Administration
  • Corporate Management
  • Actuarial
  • Claims
  • Underwriting
  • Finance & Accounting
  • Human Resources
  • IT Management & Front Office Systems
  • Legal & Compliance
  • Risk Management
To view a full list, please click here.

To further capture pay distinctions, data is also broken out by firm size and location.

Insurance Brokerage Compensation Survey

For the past 10 years, our Insurance Brokerage Compensation Survey has been sponsored by the Council of Insurance Agents & Brokers (CIAB). We provide detailed information about competitive pay levels for key roles across the major functions within the insurance brokerage industry. For a full list of the key roles, please click here.

We provide data critical to our client’s success. We help our clients:

  • Track producer pay and production to assess the competitiveness of producer revenue results and evaluate talent.
  • Manage compensation spending across functions and businesses, project salary budgets, and optimize your pay mix.
  • Drive recruiting and retention by reviewing the strengths and weaknesses of compensation strategies.

Global Property & Casualty Reinsurance Compensation Survey

We provide competitive benchmark compensation data for reinsurance professionals globally as well as other key functions that support the reinsurance business. To date, we’ve collected data across 8 countries for over 25 companies. For a list of the countries that we collect data within, please click here.

For Underwriting and some Account Executive roles, data is broken out to capture pay distinctions for Reinsurance Type (i.e., Treaty versus Facultative) and Specializations (i.e. Professional Liability, Marine, and Credit & Bond / Security). Other key functions covered include:

  • Top Management
  • Actuarial
  • Catastrophe Modeling
  • Claims
  • Finance and Accounting
  • Human Resources

Specialty Insurance Compensation Survey

For specialty carriers looking to assess their employee pay levels and manage their overall compensation spending, we offer a compensation survey designed to gauge the competitive US market for professional roles within the industry.
We cover key functions in the industry including:

  • Top Management
  • Specialty Management
  • Specialty Underwriting
  • Actuarial
  • Claims

Additionally, we provide reports with data broken out by specialty lines of businesses, including (but not limited to):
  • Marine
  • Energy
  • Products
  • E&S
  • Transportation
  • Property
  • FinPro
  • Surety
  • Accident and Health

About Ward Group

Ward Group within McLagan is the leading provider of benchmarking and best practices studies for the insurance industry. We analyze staff levels, compensation, business practices, and expenses for all areas of insurance company operations and help insurers measure results compared to peer groups, optimize performance, and improve profitability. Since 1991, we have performed more than 2,500 operational and compensation benchmarking exercises for companies of all sizes, including more than half of the top 100 U.S. insurance carriers.

Moving Beyond Pay: Market Intelligence and Insights

Beyond compensation surveys, McLagan offers a broad range of Market Practice Studies throughout the year. Specific to the insurance industry, we provide specialized studies on Diversity and Actuarial Practices on pay practices in the industry.

To learn more about McLagan Market Practice Studies, click here.

Survey Pricing, Access, and Support

Please contact McLagan for details on pricing.

Survey purchases include 24/7 access to the McLagan Client Portal. This puts survey results and insights in reach at all times.

All survey clients are assigned a dedicated relationship manager to provide benchmarking support during the survey input, position and employee level analysis, and access to webinars and roundtables where clients receive the latest in hot topics in the market and networking opportunities with industry peers. We provide a variety of rewards and compensation advisory solutions to assist clients with their compensation, performance, and talent strategies.