Hester poised for £17.7m and Egan £6.7m from RSA sale
RSA group CEO Stephen Hester could pocket £17.74m from the sale of the insurer with UK and international CEO Scott Egan in line for a £6.67m pay out, according to analysis of the latest documents published by the provider as part of the proposed takeover by Intact Financial and Tryg.
RSA’s board officially backed the £7.2bn bid on 18 November. On the same day the pair and seven colleagues signed irrevocable undertakings, given as shareholders rather than directors, to vote in
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@postonline.co.uk or view our subscription options here: http://subscriptions.postonline.co.uk/subscribe
You are currently unable to print this content. Please contact info@postonline.co.uk to find out more.
You are currently unable to copy this content. Please contact info@postonline.co.uk to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@postonline.co.uk
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@postonline.co.uk
More on Commercial
Convex’s Brand urges rivals to stop moaning about brokers’ profits
Paul Brand, CEO of Convex, has told carriers to focus on harnessing technology to drive down their own operational expenses rather than wishing brokers would charge less.
RSA fraud chief spotlights growing commercial fraud threat
Adele Sumner, head of counter fraud and financial crime at RSA, has called for increased awareness on the growing threat of commercial insurance fraud.
Crawford looks to TPA business and AI to drive growth
Crawford is looking to capitalise on a wave of interest in third-party administration services in order to grow and diversify its revenue streams, its CEO of international operations Andrew Bart has said.
Upcoming webinar: How is the delegated authority business changing in the digital age?
With The Lloyd’s Market Association crunching the findings of its market-wide consultation on the new Computable Binding Authority Agreement (CBAA) model, bordereaux management is entering a new era.
Large corporates facing ‘ambiguous and challenging’ risk landscape
A confluence of global risk trends means large corporate clients are finding it harder to manage international insurance programmes and are increasingly looking to alternative solutions, Swiss Re Corporate Solutions’ Adrian Hall has said.
Is carbon insurance the biggest opportunity in decades?
With carbon insurance tipped to become a billion-dollar market by 2030 as demand for risk transfer in the carbon credit supply chain grows, Harry Curtis looks at the risks involved and the first movers in the nascent market.
FCA re-opens commercial lines rules consultation
The Financial Conduct Authority has “partially re-opened” its consultation about overhauling rules for commercial lines and bespoke insurance, in a bid to get more data from providers and brokers.
Big Interview: Paul Brand, Convex
Paul Brand, group CEO of Convex, sits down with Harry Curtis to discuss the insurer and reinsurer’s plans to hit and surpass $5bn GWP, the difficulties of technology adoption, and why he thinks current market conditions are “brittle”.