Husband vows to appeal record divorce payout

INSURANCE magnate John Charman has vowed to challenge an order to pay his former wife a total of £48 million (€70m) in what is believed to be the biggest divorce award in English legal history.

Mr Charman, 53, said in a statement that he believed the ruling by Mr Justice Coleridge in the Family Division of the High Court in London was “unfair and unreasonable” and immediately announced his intention to appeal.

Details of the judge’s ruling, given in private last week, were made public yesterday.

The payout to Beverley Charman, also 53, is believed to be the highest awarded to a wife in the English divorce courts in a contested case.

The total sum of £48m includes £8m (€11.8m) of assets already in her name.

Mr Charman, who is based in Bermuda and America, was ordered to pay her a lump sum of £40m (€59m).

In percentage terms, the judge held this to be just under 37% of the assets.

Mr Charman commented in a statement: “This judgement is poor and blatantly discriminatory. The size of the award is grotesque and unfair.

“By any reasonable standards this is an extraordinary decision. I will appeal this decision.”

The couple were married in 1976, when neither had significant resources. They separated in November 2003 and divorced in April last year.

Ms Charman continues to live in the former matrimonial home, Dell House in Sevenoaks, Kent, which is valued at £2.75m (€4m).

During their 29-year marriage, Mr Charman had a hugely successful career and built up considerable wealth in the insurance market.