Prudential chief executive Tidjane Thiam received an £8.7m pay packet in 2013 as part of a £47m remuneration package handed to eight executives.
The insurer’s remuneration report, published yesterday, reveals Thiam’s basic salary last year was just over £1m. His salary was also boosted by a £2m bonus and a £5m payment through the firm’s long-term incentive plan.
The long-term incentive plan is a bonus payment linked to the delivery of shareholder returns and profits over a three-year period.
Former Prudential UK chief executive Rob Devey, who left the insurer in October 2013, received total remuneration worth almost £3.5m, with £2.5m paid through bonuses and the LTIP.
Jackie Hunt, who replaced Devey as UK chief executive in September 2013, was paid over £3.5m last year. Over £2m of her remuneration package was made up in bonuses and the LTIP.
The total executive remuneration package for 2013 was £9m higher than the £38m figure reported in 2012.