Quindell executive pay doubles despite collapse of share price

INSURANCE outsourcer Quindell Portfolio doubled the amount it paid to its top executives last year, according to its annual report.

The fast-growing company gained headlines last month when it announced a 915 per cent rise in year-end pre-tax profits, only to watch as its share price halved following questions over the structure of a takeover deal.

Chairman and chief executive Rob Terry took home a total of £890,000, up from £407,000 in 2011. His basic salary jumped from £114,000 to £402,000 and he enjoyed a £488,000 bonus.

Financial director Laurence Moorse received a total package worth £342,000, up from £130,000.

Yesterday Quindell said pay was decided by an independent committee and reflected the group’s results.