Quindell boss's 2012 pay doubles to £890k

Insurance outsourcer Quindell Portfolio chairman and chief executive Rob Terry’s executive pay doubled in 2012, according to the firm’s annual report.

Terry earned £890,000 last year, up from £407,000 in 2011. Terry’s basic salary leapt from £114,000 to £402,000, and he had a £488,000 bonus.

Quindell financial director Laurence Moorse got a total 2012 pay packet of £342,000, up from £130,000 in 2011.

Quindell increased its 2012 earnings before interest, tax, depreciation and amortisation (EBITDA) by 681% to £52.2m (2011: £6.7m).

Quindell’s gross sales rose to £171.9m (2011: £13.7m) and revenue to £137.6m (2011: £13.7m).