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Insurer Aviva's Boss Waives Pay Rise

British insurer Aviva's chief executive Andrew Moss has waived his 2012 salary increase, bowing to shareholder concerns over executive pay three days before he is due to face investors at the group's annual general meeting.

By Myles Neligan, Reuters | Updated on April 30, 2012

LONDON, April 30 (Reuters) – British insurer Aviva’s chief executive Andrew Moss has waived his 2012 salary increase, bowing to shareholder concerns over executive pay three days before he is due to face investors at the group’s annual general meeting.

Aviva, Britain’s second-biggest insurer, is also launching a review into whether it over-compensates newly-recruited executives for missing out on bonuses due in their previous jobs, it said on Monday.

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