TRACEY GRAHAM CHAIRMAN OF THE REMUNERATION COMMITTEE 30 KEY - PowerPoint PPT Presentation

TRACEY GRAHAM CHAIRMAN OF THE REMUNERATION COMMITTEE 30

KEY PRINCIPLES OF OUR REMUNERATION POLICY Align with the interests of our members and other customers Align with delivering Group strategy and good governance Align with relevant market practice 31

EXAMPLE REMUNERATION COMPARISON GRAPH THESE FIGURES ARE TAKEN FROM THE REPORT AND ACCOUNTS FOR EACH OF THE 11 COMPANIES AND WHERE NO 2014 DATA IS AVAILABLE WE HAVE USED 2013 DATA Base Salary 8000 Salary plus fair value of short term incentives 7000 Salary plus fair value of short term incentives and fair value of long term incenitves 6000 Salary plus maximum value of short term incentives and maximum value of long term incentives Value £000’s 5000 4000 3000 2000 1000 0 Prudential Aviva Old Mutual Legal & Standard BUPA Royal LV St James's NFU Mutual Chesnara General Life London Place Life Insurer 32

WHAT OUR EXECUTIVE DIRECTORS RECEIVED IN 2014 Salary Pension Benefits STIP Total 2014 LTIS Total 2014 Total 2013 Total 2013 Performance Pay (£000) (£000) (£000) (£000) Performance Pay (£000) Remuneration Remuneration (£000) (£000) (£000) (£000) Andy Carter 354 144 15 389 902 747 1,649 986 1,235 Jon Macdonald 292 44 15 312 663 218 881 671 756 Phil Loney 634 156 75 904 1,769 1,090 2,859 1,738 2,614 Tim Harris 255 51 9 325 640 - 640 - - 33

LOOKING AHEAD • Your Committee will continue to work ensuring compliance with best practice remuneration guidance • Committee will continue to monitor significant mandatory pay and reward regulations the European Banking Commission are consulting 5