Steven A. Kandarian, MetLife Chairman and CEO

MetLife Chairman and CEO Steven A. Kandarian was compensated $8.96 million last year, his first full year as head of the nation's largest life insurance company, according to documents filed Monday with the U.S. Securities and Exchange Commission.

Kandarian saw his pay package increase 96 percent last year over the $4.58 million he received in 2011, not including stock-and-option awards which have a future value, and also not including growth in his pension fund.

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March 27, 2012