Esure chief executive Stuart Vann was paid a total of £824,425 in 2015, up 11% on the £746,021 he was paid in 2014.
The insurer’s chief financial officer Darren Ogden enjoyed a 13.1% increase in total pay to £501,763 (2014: £443,631).
The total pay increases reflect the base salary rises both men received on 1 July 2015 as well as an increased annual bonus, triggered by the company hitting its trading profit target for the year.
Esure made a trading profit of £92.3m for 2015. Esure did not disclose the target, but said the trading profit had exceeded it – although it fell short of the amount that would trigger a maximum payout under the annual bonus.
In 2014, Esure missed its trading profit target, reporting a trading profit of £115.4m against a target of £128.4m and a maximum of £154.1m.
Vann’s base salary increased by 6.2% to £504,500 (2014: £475,000). His annual bonus increased by 25.5% to £236,738 (2014: £188,575).
Ogden’s base salary increased by 9.8% to £340,500 (2014: £310,000). His annual bonus rose by 27.7% to £104,810 (2014: £82,057).
Neither Vann nor Ogden received any payments under Esure’s long-term incentive scheme.
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