American International Group Inc.'s top executive was the highest-paid CEO of a U.S.-listed property and casualty or multiline insurance underwriter in 2018, according to an S&P Global Market Intelligence analysis.

Brian Duperreault earned $20.9 million in 2018, with more than half of his compensation coming in the form of stock and option awards. However, that figure marked a 51.2% decline in total compensation when compared to 2017. He earned about 314x more than the median AIG employee's salary, based on figures reported by the company.

The second-highest paid CEO in this analysis, Chubb Ltd.'s Evan Greenberg, earned $20.4 million in 2018, up 6.5% from the prior year. A little less than half of his total compensation was in cash. Greenberg's total adjusted compensation was 316x the median pay of employees at Chubb.

Universal Insurance Holdings Inc.'s Sean Downes, who was third on the list, saw his compensation fall by 6.9% when compared to 2017. He earned $17.9 million in 2018, which was 280x the median pay of employees at Universal Insurance.

Downes recently stepped down as CEO and took on the role of executive chairman of Universal Insurance. Stephen Donaghy was appointed to the CEO position effective July 15.