Ousted Pru chief 'set for £1.8m payoff'

The ousted chief executive of insurance giant Prudential is set to receive a payoff of up to £1.8m (€2.6m), it was reported today.

Jonathan Bloomer, who was forced to quit in a surprise move last week, will be given his expected 2005 salary of more than £850,000 (€1.2m) as well as a potential bonus thought to be worth at least £500,000 (€722,000).