Florida homeowners insurer Universal Insurance Holdings Inc. had the highest-paid CEO among all public U.S. property and casualty insurance underwriters in 2017, according to an S&P Global Market Intelligence analysis of proxy filings.

Universal Insurance CEO Sean Downes earned $19.3 million in 2017, with nearly half of his compensation taking the form of stock and option awards. He earned around 260x more than the median Universal Insurance employee's salary, based on figures reported by the company.

CNA Financial Corp. CEO Dino Robusto earned $10.6 million in total adjusted compensation in 2017, more than double his compensation figures from 2016. The 118.8% year-over-year increase was the largest among the 10 highest-paid CEOs at publicly listed U.S. P&C insurers.

In all, the top executives at five P&C underwriters made more than $10 million last year. Narrowly missing out was Progressive Corp. CEO Tricia Griffith, who earned $9.3 million in total compensation in 2017.

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