UK - Shareholders have been urged to challenge the Royal & Sun Alliance Insurance Group's board over remuneration payments at tomorrow's annual general meeting.
Proxy voting agency Manifest has raised concerns about a retention and continuity bonus paid to former finance director, Julian Hance.
Upon the completion of Hance’s retention period at the end of December 2003 he pocketed £250,000, before resigning days later.
A Manifest spokesman said the bonus was “unusual” and questioned whether Hance had been committed to the job.
Manifest also questioned whether the bonuses paid to chief executive Andrew Haste were sufficiently tied to performance. He received a total recruitment package of £3.6m in 2003.
PTL has appointed Karein Davie as a client director in its Birmingham office.
The level of interest rate hedging increased to £29.5bn of liabilities in the second quarter as pension funds continued to de-risk, according to BMO Global Asset Management's research.
UK inflation has risen for the first time since November to 2.5% in July, up from 2.4% in June, thanks to rising fuel costs and the price of computer games.
The number of DB pension scheme trustees targeting a buyout with an insurer has increased significantly in the past five years, latest research from Willis Towers Watson shows.