2025 Salary Trends in the Insurance Industry: What Firms Need to Know
In today’s competitive insurance landscape, understanding compensation benchmarks is more critical than ever.
In a market where top talent is harder than ever to attract—and even harder to keep—understanding 2025’s salary trends is more than a nice-to-know. It’s mission-critical. At Lyneer Search Group, we work with insurance companies nationwide to place finance and accounting executives who don’t just fill a gap—but elevate the business. Based on recent data and our industry-specific recruiting experience, here’s what firms need to know about where salaries are heading this year.
Salaries Are Climbing, But Not Evenly
We’re seeing steady upward pressure on compensation across most finance and accounting roles in insurance, but especially for:
- Controllers (median: $192K; 75th percentile: $247K+)
- CFOs in midsize carriers (median: $277K; 90th percentile: $460K+)
- Senior Statutory Reporting Professionals (median: $165K; often exceeding $200K with bonuses)
This growth isn’t uniform. Regions like New York, Chicago, and parts of the Southeast are seeing bigger jumps, driven by talent shortages, hybrid work models, and increased regulatory demands.
Specialized Expertise = Premium Pay
Experience in the following areas is commanding higher offers:
- GAAP + STAT dual reporting
- NAIC filing compliance
- Reinsurance accounting
- Private equity-backed carrier financial leadership
Candidates with this mix are in short supply, especially those who can also communicate effectively with the board and drive transformation initiatives.
Geography Still Matters—But Less Than Before
While coastal markets (NY, CA) continue to lead on base compensation, we’re seeing competitive offers from carriers in traditionally lower-cost areas:
- Midwestern mutuals and Southern P&C firms are stepping up their packages to compete nationally.
- Hybrid flexibility remains a key driver: many execs are willing to relocate or stay remote if comp and culture align.
Bonuses & Incentives Are More Strategic
The best firms are getting creative with how they structure total comp:
- Performance-based bonuses tied to combined ratios, reserve audits, or EBITDA growth
- Retention bonuses for critical positions during M&A or restructuring
- Sign-on and spot bonuses to close candidates quickly in competitive markets
Talent Retention = Talent Protection
Nearly 70% of insurance firms cite talent scarcity as a top business challenge. Yet, too many are still reacting rather than planning.
Our advice?
- Benchmark often (at least annually)
- Segment your comp strategy by business unit risk (e.g., actuary vs. internal audit)
- Use salary data to lead, not lag—especially with high-potential talent
What’s Next?
If your team is making decisions with outdated comp data, you’re already behind. The right salary strategy can help you attract top-tier finance leaders—and keep them.
📥 Get the full 2025 Insurance Salary Guide from Lyneer Search Group and see where your comp strategy stands.
Need help building your next executive offer or compensation structure? We’re happy to advise.
Email Guide
