Aviva chief waives 4.6% pay rise

The boss of insurer Aviva bowed to shareholder pressure today and waived a near-5% pay rise which would have taken his annual salary over the £1m (€1.2m) mark.

Chief executive Andrew Moss was awarded a 4.6% rise in March on his £960,000 (€1.1m) annual salary but has decided not to accept the increase following talks with major investors.