Swinton boosted directors pay 1,000% in 2009
Swintons director pay was boosted 1,000% for 2009, Insurance Times can reveal.
Directors pay shot up from £1.5m in 2008 to £16.3m in 2009. Furthermore, the top director took home £4.9m in 2009. Last year the directors pay – remuneration, emoluments and pensions – dropped back down again from £16.3m (2009) to £1.7m (2010)
Directors pay remuneration, emoluments and pensions – dropped from £16.3m in 2009 to £17m last year.
Yesterday, French parent Covea sacked the executive board, accusing them of putting short-term interests over long-term gain.
However, a spokesman said the 2009 year was not connected to the decision but instead, it was all about performance related share scheme payments for the first quarter in 2012.
In 2008, Swinton Group Limiteds post-tax profits were £28.9m. The profits dropped during the credit crunch, down to £21.8m in 2009 but bounced backed to £27.1m last year.
A little known fact is that for all insurance purchased on-line, you become the broker and are wholly responsible for the choices …
20 Jan 2020
Whilst there is no doubting that the internet has made insurance cover so much more accessible, what are the wider implications of …
9 Jan 2020
Not only should your business insurance be fit for purpose, you should also be able to understand the implications behind the endless …
17 Dec 2019