Company:

Insurance Company

Mandate:

To assess the overall remuneration strategy with particular emphasis on Long term Incentives and corporate performance metrics.

Background:

The company had toyed with the idea of simply increasing fixed pay for mission critical roles but this was, wisely, rejected by the Board in the first instance.

Solution:

The Board agreed to a substantial increase in total reward but only under circumstances where the shareholders were demonstrably better off. This was achieved through an adjustment to medium and longer term performance based reward.