Blog posts

The Future Value of Money

The future value of money was a question highlighted by a Government decision yesterday. The discount rate to be applied to awards to road accident victims and others, to ensure they always have enough to support their future needs, is to be changed to -0.75% (that's minus 0.75%). Previously, and for many years, it has been assumed that they could invest a cash lump sum at a rate of plus 2.5%. That was on the assumption that they could invest in ...

Leaders and Laggards

Laggard Direct Line Group: How Not to Do Covid-19 Affected AGMs

In common with many other companies, Direct Line Group has "taken the easy way out" of handling its AGM when shareholders cannot attend in person due to Covid-19 restrictions. In this announcement of 21st April, Direct Line confirms that shareholders will not be able to physically access their AGM. Only proxy votes may be submitted. Direct line also say: Shareholders may send any questions about the business of the AGM to the Company Secretary at the Company's registered office or by email to ...

Corporate Remuneration Reports

Direct Line Insurance Remuneration Report 2016

Attached is the Manifest Report. Manifest Executive Remuneration Assessment grade 'C’ (on scale A =good to F=awful) Manifest has assessed the Company’s disclosures against the recommendations of the UK Corporate Governance Code, institutional investor guidelines and the disclosure requirements set out in both the Companies Acts and the UKLA Listing Rules. The following items have been identified which may be of interest to shareholders: There is a weak alignment of interests between executives and shareholders. 2016 Annual bonus targets are not disclosed ...

Direct Line Group – 2015

The latest example of excessive remuneration comes from Direct Line Group. Their “single figure” remuneration table shows the CEO received a total of £4.8m in 2015 (admittedly, down from £5.3m in 2014) and the FD got £2.8m (up from £2.2m in 2014). Announcements today (see and ) show yet more chunky share awards for the current year, and substantial vestings from past years. At the current share price, the value of the CEOs unvested share awards (this is in addition to the ...
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