Overview

This guide sets out the Association of British Insurers' views on the role of shareholders and directors in relation to remuneration and the manner in which remuneration should be determined and structured. The document is designed in a format of over-arching principles, general guidance and additional appendices, containing further helpful guidance on the operation of incentive schemes. The guidance is predominantly for companies with a main market listing but is useful for companies on other public markets and for other entities too. Amongst the issues discussed are:

● fixed elements of remuneration (base pay, pensions, benefits);

● variable elements of remuneration (bonuses, incentives)

● alignment and outcomes;

● additional guidance (performance conditions and vesting, cost, change of control provisions, pricing and timing of awards, life of schemes and incentive awards, joint venture companies, dilution, ESOTs and all-employee schemes);

● schedule A of the UK Corporate Governance Code.

To read the full guide, click 'View Briefing'.