Frankfurt, Munich Despite billions in write-offs for the legal disputes in the USA, Allianz boss Oliver Bäte received remuneration of 6.91 million euros last year, nine percent more than in the previous year. This emerges from the annual report for the year 2021 of the insurance group.
But without the US debacle, Bäte would have earned even more. At the annual press conference, he had already emphasized that every board member had to pay their fair share. Due to the provision made for structured alpha, the variable target remuneration was reduced by around 24 percent, according to Allianz. For the CEO, that would probably mean that the annual bonus would have been around half a million euros higher and the long-term share-based remuneration around one million euros higher.
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