Senior staff at Equitas have received performance bonuses, despite the company reporting a net loss of £84m.
In 1996, the firm was created to pay out mainly asbestos-related claims that threatened to collapse Lloyd's.
Chief executive Michael Crall was given a £200,000 reward, on top of his £368,750 annual salary. Finance director Jane Barker received a £145,000 bonus in addition to her £246,250 wage.
Chief actuary Paul Jardine, who is on a £245,000 salary, also received £165,000, while claims director Scott Moser collected £200,000 plus a salary of £303,750.
The bonuses, published in Equitas's annual report, were paid following strong underlying performances.
It said the results had been hit by a £499m charge after the company strengthened its reserves because of a rise in asbestos claims in the US.