British insurer Aviva chief executive Mark Wilson’s take-home pay more than doubled to 5.67 million pounds ($8.1 million) last year, after the purchase of rival Friends Life, Aviva’s annual report showed on Tuesday.
Aviva completed the 5.6 billion pound acquisition in April 2015, creating a market leader in life insurance. It posted a 20 percent rise in operating profit for 2015.
Wilson received a bonus of 1.78 million pounds or 182 percent of his basic salary, compared with a maximum possible 200 percent payout, due to “strong financial performance” and progress on strategic objectives last year, Aviva said.
The CEO, who joined Aviva at the beginning of 2013, also received payments for the first time from a long-term incentive plan (LTIP).
Wilson received 2.56 million pounds from the LTIP, based on a three-year performance period to end-2015.
Aviva’s share price rose by 38 percent over the period.
Rival insurer Legal & General’s chief executive Nigel Wilson earned 4.7 million pounds in 2015 and RSA boss Stephen Hester earned 2.47 million pounds.
($1 = 0.7000 pounds) (Reporting by Carolyn Cohn; editing by Alexander Smith)
Was this article valuable?
Here are more articles you may enjoy.
Florida Home Inspector Used Stock Photos 200 Times, Defrauding Citizens, DFS Says 
Industry Critiques Trump’s Auto Insurance Rate Data, Promise to Cut Premiums 
AM Best Downgrades Credit Ratings of Texas Farm Bureau Casualty Insurance Co. 
Appeals Court Spikes Brett Favre’s Defamation Suit Against Shannon Sharpe 
