Swinton results improve despite £560,000 loss of office payout


This is an improvement on the £278m reported in 2010. The company’s profit also increased, from £28m to £34m.

The group paid out a total of £1.2m in directors’ remuneration, which included £59,000 in contributions to money purchase pension schemes, and £558,000 in compensation for loss of office.

The entire Swinton board was sacked in December last year, over concerns about performance-related share scheme payments.

The current board commented on the results: “Operating profit … showed an 80%

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 [email protected].

You are currently unable to copy this content. Please contact [email protected] to find out more.

To continue reading...

You need to sign in to use this feature. If you don’t have an Insurance Age account, please register now.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: