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Insurer’s ex-CEO reveals 2011 pay

Kelly got nearly $50m from Liberty Mutual; Remained among top paid executives

Liberty Mutual chairman Edmund F. “Ted’’ Kelly, who earned close to $50 million a year from 2008 to 2010, said Wednesday that he collected a similar amount last year when he retired as chief executive of the insurance company.

The disclosure means Kelly remained one of the nation’s highest paid executives last year, earning more than the heads of Bank of America Corp., General Electric Co., and other major corporations. Equilar, a California compensation research firm, recently found just three chief executives among 300 of the largest US publicly held companies earned more than $45 million last year.

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