Aviva reveals cost of recruiting UK CEO

Trevor Matthews

Trevor Matthews, UK CEO at Aviva, received £2.49m in cash and shares from Aviva as part of his compensation package for leaving Friends Life, the insurer has revealed in its Report and Accounts for 2011.

The document, published on Budget Day, also reported that Mr Matthews had been awarded an annual basic salary of £720,000. His predecessor Mark Hodges, now group chief executive at Towergate, had an annual salary of £635,000.

Mr Matthews was appointed on 2 December last year and the £2.49m figure was broken down as £470,000 cash in the first month of employment with the remainder being formed by a conditional share award.

This was split into three equal sections to be paid each March until 2014

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Applied updates on commercial push

Applied Systems has confirmed Arch Insurance is about to enter the pilot phase of onboarding and will be live on the Applied Epic broker management system in April, with Iprism and Ark to follow and more promised in 2024.

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