Accountability

Remuneration received

The remuneration received in respect of the year ended 31 December 2007 by each of the directors in respect of their periods of service as directors, excluding pension contributions and long term incentive plan payments, is shown in the table above. In addition, Mr Hextall received and retained a non-executive director’s fee of £3,315 from the City of London Investment Trust PLC (2006: nil).

Directors remuneration received

Click here for full sized image

The amounts paid to non-executive directors include fees paid on behalf of the Company’s subsidiary, Amlin Underwriting Limited. All current non-executive directors of Amlin plc were also nonexecutive directors of that subsidiary during their periods of service during the year, most of them joining the subsidiary Board in May 2006.

The annual bonuses and/or profit commission amounts are those paid or payable in respect of the year. Messrs Hextall and Philipps received performance bonuses under the Group Bonus Scheme. For 2007 the scheme’s business performance 'on-target' ROE was 15% (2006: 19%), the 'stretch' target was 24% (2006: 24%) and the level at which the maximum business performance related payment was payable was 30% (2006: 30%). The lower 'on-target' threshold for 2007 reflected internal budgets at the time but the 'stretch' and maximum targets were maintained at their previous demanding levels. The 2007 ROE as adjusted under the rules of the scheme, and reflected in Messrs Hextall’s and Philipps’s payments above, was 41.7%, resulting in maximum business performance payments (2006: 34%, also above that year’s maximum payment level).

Mr Carpenter’s and Mr Holt’s bonuses and/or profit commission (PC) were made up as follows:

No payments were made during the year in respect of any director leaving the Board or ceasing to be employed by the Group.

© Copyright Amlin 2007