Insurers face tougher EU scrutiny on pay
March 28, 2014 by Jim Brunsden
Bloomberg) — Insurers from Prudential Plc to Axa SA face tougher European Union oversight of compensation as the bloc seeks to crackdown on awards that could spur irresponsible risk taking.
Draft European Commission plans would require insurers to defer handing over a “substantial portion” of bonuses for at least three years in a bid to link pay to the firm’s longer-term performance, according to a document obtained by Bloomberg News.
Compensation policies should also incorporate measures to prevent over-reliance on bonuses, and avoid “conflicts of interest,” according to the document.
Originally Posted at LifeHealthPro on March 28, 2014 by Jim Brunsden.
Categories: Industry Articles
