Tel: 01992 471001

Email: hoddesdon@ashbourneinsurance.co.uk

Swinton Directors Pay Boosted 1,000% Prior To Board Sackings

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.

Leave a comment

Your email address will not be published. Required fields are marked *

Recent blogs

  • When you become the broker!

    There is no doubting the fact that increased accessibility to insurance on-line has generated a more competitive paying field for the insurance …

    Peter Smits
  • One size does not fit all!

    The core message at the centre of consumer advertising for insurance, particularly motor and home, from those household brands, you know the …

    Peter Smits
  • Don’t be left stranded…

    Ever stopped to wonder if your insurance policy purchased on-line is “fit-for-purpose”?
    Of course the schedule of insurance will include all the usual …

    Peter Smits
  • Archives

  • Calendar

    October 2019
    M T W T F S S
    « Aug    
     123456
    78910111213
    14151617181920
    21222324252627
    28293031  

We use cookies to ensure that we give you the best experience on our website.