Outgoing Prudential chief executive Tidjane Thiam received £11.8m in his final year at the company, the insurer revealed yesterday.
The vast majority of that came from long-term incentive awards – those payouts gave him £8.3m.
Combined with a salary of just over £1m, pension contributions of almost £400,000 and a bonus of £2.1m, the boss took home £11.8m.
Thiam will become chief executive of giant bank Credit Suisse in June.
Remuneration committee chairman Lord Turnbull said the generous payouts to executives are justified by the firm’s strong performance.
“Over the longer term, the group has created substantial value for shareholders through share price rises and by increasing dividend payments,” he wrote in the annual report. “£100 invested in Prudential on 1 January 2012 was worth £257 on 31 December 2014. This performance outstripped that of other international insurance companies.”