Insurance Age

Moss to receive £500,000 on top of basic salary

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    • Caitlin Morrison

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Andrew Moss will receive his basic salary in lieu of twelve months’ notice in accordance with his contract when he leaves Aviva at the end of May.

The insurer’s ex-CEO will also receive £300,000 in settlement of any claims that he might have to bonus payments under his contract.

In addition, Mr Moss will retain the benefit of £209,000, or five twelfths, of the annual payment made in April 2012 under the Aviva Capital Accumulation Plan – the company’s money purchase pension plan.

Mr Moss may also be due payments in lieu of holiday entitlement and legal and out-placement expenses.

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