Blue Cross Blue Shields Gives Raises to Top Execs

The annual report from Blue Cross and Blue Shield shows that the state's largest insurer paid its top executive three-point-one million dollars last year.That's a 22 percent raise for chief executive Robert Greczyn Jr. The News and Observer of Raleigh obtained the annual report yesterday from state regulators. The report shows that several other senior executives also got double-digit raises and three earned more than one million dollars in annual compensation for the first time. A Blue Cross spokesman attributes the executives' increases to their work toward improving the insurer's financial performance. The nonprofit company reported yesterday net income of nearly 190 million dollars last year, up 13 percent from 2005. Total revenue was four-point-four billion dollars, up 15 percent. Blue Cross covers three-point-four million North Carolinians.