AVIVA chief executive Andrew Moss saw his total pay rise by nine per cent in the year to 1 April, despite the insurer’s shares having fallen by more than 20 per cent over the past 12 months.
Moss’s (pictured) basic pay rose 3.8 per cent, increasing from £925,000 to £960,000. He then earnt a £1.16m bonus, £480,000 under the firm’s long-term incentive plan, and a further £98,000 in other benefits, Aviva’s annual report revealed yesterday.
The total of £2.69m is a nine per cent rise on 2010’s figure of £2.47m. Moss’s basic salary is set to rise a further five per cent over the next year, taking it to just over £1m. Shares in Aviva fell a further six per cent yesterday as it went ex-dividend.
Earlier this month Aviva reported a bigger-than-expected six per cent rise in 2011 earnings, helped by stronger profits from life insurance.