Bermudian (re)insurer Axis Capital has agreed to pay former CEO John Charman $13,846,268 in lieu of annual retirement payments that he was entitled to, taking his total severance package to just under $36mn.
Charman sensationally left Axis on 25 June having relinquished the CEO role in favour of the chairmanship as recently as May.
Following the ouster, former PartnerRe CFO Albert Benchimol remains CEO, with former chairman Michael Butt coming out of retirement to take Charman's place.
When announcing Charman...
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