Prudential boss Tidjane Thiam has landed a pay package worth £7.8 million, despite being censured by regulators over his failure to keep them informed over a major acquisition.
The insurer's annual report revealed Mr Thiam's total remuneration in 2012 was up 65% on the £4.7 mil-lion he received in 2011. His salary rose 11% to £1m and his bonus leapt 27% to £2m, while he was awarded £4.4m worth of shares under a long-term incentive plan.
Last week, the Financial Services Authority (FSA) issued the Pru with a £30m fine and criticised Mr Thiam for not telling it about the 2010 bid for AIG's Asian subsidiary AIA.
The FSA said the deal, worth around £23 billion, had the potential to hit the "stability and confidence of the financial system in the UK and abroad".
In total, executive directors were handed pay and rewards totalling £33.4m during the year, up 12% on the £29.8m they received a year earlier.
Last month, Prudential reported a 25% leap in 2012 earnings to £2.5bn and increased its dividend by 16%.
A spokesman declined to discuss the FSA fine but said remuneration reflects the "significant value created for our shareholders in the past three years".
The Asia-focused insurer should have told the FSA about the AIA deal at the earliest opportunity in order to allow the watchdog to decide on whether to approve or reject it.
The FSA said Prudential and Mr Thiam's failings represented a "serious error of judgment" for which the company is now paying the price.
The ill-fated deal, which collapsed amid shareholder uproar, would have involved a UK record shareholder cash-call of £14.5bn and transformed the group's financial position, according to the FSA.
The FSA, which did not learn about the proposed acquisition until after it had been leaked to the media, said it was forced to consider highly-complex issues relating to the transaction in a compressed timescale.
The Pru was overly influenced by its concern about the risk of leaks, despite being told by advisers about the importance of keeping the regulator informed.
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