NEW YORK - Insurance broker Aon Corp. gave its president and chief executive total compensation valued at $11.6 million in 2008, a 13 percent increase from the year before, according to an analysis of a regulatory filing on Friday.

Gregory C. Case, 46, received a base salary of $1.5 million - unchanged from the previous year. In the first quarter of 2008, Case received a performance-based cash award of $2.4 million for his performance in 2007.

Also in 2008, Case received restricted stock and option awards valued at $7.7 million on the days they were granted.

Additionally, Case received perks valued by the company at $47,455, which included company contributions to savings and retirement plans, cash dividend equivalents paid on certain unvested restricted stock units and personal use of company aircraft.

The Associated Press formula is designed to isolate the value the company's board placed on the executive's total compensation package during the last fiscal year. It includes salary, bonus, performance-related bonuses, perks, above-market returns on deferred compensation and the estimated value of stock options and awards granted during the year.

The calculations don't include changes in the present value of pension benefits, and they sometimes differ from the totals companies list in the summary compensation table of proxy statements filed with the Securities and Exchange Commission, which reflect the size of the accounting charge taken for the executive's compensation in the previous fiscal year.

In the first quarter of this year, Case received a total performance-based award of $1.8 million, with the cash portion totaling $1.4 million. Because this was not paid until 2009, this amount is not reflected in Case's total compensation for 2008.

Separately, Case realized $752,672 on the vesting of stock awards during 2008.

The Chicago-based company's profit plunged 95 percent in the fourth quarter, hurt by lower revenue and costs related to its acquisition of Britain's reinsurance broker Benfield Group Ltd.

For the year, Aon earned $1.48 billion, or $4.91 per share, up from $864 million, or $2.69 per share, in 2007. Earnings from continuing operations slipped 6 percent to $621 million, or $2.06 per share.

The company's stock declined 4.2 percent during 2008 to end the year at $45.68, faring much better than the S&P 500 benchmark, which declined 38.5 percent last year.

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