Backchat always knew Admiral supremo Henry Engelhardt was a caring, sharing, socially aware kinda guy. And new research on FTSE 350 pay scales confirms it.

Even after Admiral's 24% increase in profits to a whopping £69m, Engelhardt only took home a modest pay packet of £268,000, placing him at 345th in the list of UK's top 350 bluechips, only a whisker behind the fattest cat in the City - WPP's Martin Sorrell, who trousered a cool £17m.

Backchat salutes you, Henry, for setting such a sterling example of belt-tightening frugality. But does the lack of insurance CEOs at the top of the payscale mean that the industry is under-valuing its top bosses?