QBE bosses slammed by shareholders over CEO pay

QBE’s shareholders have hit back at its bosses over executive pay and climate risk transparency.

At a shareholder meeting today, investors shot down QBE’s remuneration report.

In protest against QBE chief executive Pat Regan’s incentive package, 45% voted against it.

This was despite Regan taking a $420,000 pay cut last week.

The moves come at a time where investors have endured a dividend cut and further downgrades, The Sydney Morning Herald reports.

In addition, shareholders voted for greater disclosure on climate risk reports, following pressure from activists.

The insurer was pushed into a record loss in 2017, which it blamed in part on catastrophe claims.

Chairman Marty Becker said he was “disappointed” by the vote, but told shareholders: “we have heard your concerns.”