Swiss Life reported a 20 percent profit increase last year to 1.26 billion Swiss francs ($1.39 billion), with fee and commission income rising to 2.30 billion francs from 1.96 billion in 2020, according to the insurers' annual report published Wednesday

CEO Patrick Frost, saw his compensation increase to 4.28 million francs last year from 3.88 million in 2020. The entire executive management was compensated with 17.1 million francs, almost a million more than in the previous year.

While Frost can be happy with his increase, he is still earning less than his counterpart at Zurich Insurance Mario Greco, who earned 9.2 million francs last year. 

Board Belt Tightening

Overall, board members will have to make do with a bit less, as compensation fell to 3.1 million francs, down from 3.2 million last year. Chairman Rolf Doerig's compensation was unchanged at 1.2 million francs.