The Association of British Insurers (ABI) has decided to warn investors about company directors who approve excessive pay packets, reports the Times.

The ABI will issue colour-coded alerts. The highest level of concern would be indicated by a “red top” alert warning investors that they may not want to reelect that particular individual.

The initiative comes after concerns were raised about the long-term incentives awarded to Anglo American's chief executive, Cynthia Carroll.

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