Cox's former managing director Neil Utley could create a £1.1m bonus for himself if he makes a successful bid for the company, reports said today.
According to reports, under the terms of a long-term incentive plan devised by Cox, Utley would receive a bonus if a deal valued shares at more than 68.5p.
The plan dates back to early 2002 when the company was dealing with huge losses post 9/11 and attempting to drive up share prices.
The higher the share price, the bigger the bonus, said reports.
Despite Utley's departure from the company in June, he would still be eligible for the bonus, reports claimed.
The 2025 Insurance Times Awards took place on the evening of Wednesday 3rd December in the iconic Great Room of London’s Grosvenor House.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Many congratulations to all the worthy winners and as always, huge thanks to our sponsors for their support and our judges for their expertise.
