Two Irish Life men share £396,000

IRISH Life's two top executives shared salaries and bonuses of £396,000 in 1995.

The company's annual report, issued yesterday, shows that Irish Life's managing director, Mr David Kingston, together with its chief financial officer, Mr Peter Fullam, also received pension contributions of £37,000 last year, bringing their total remuneration to £433,000.

Mr Kingston and Mr Fullam, according to the report, shared salaries of £312,000. The executives also received benefits in kind worth £18,000 and shared an annual bonus of £57,000 and other remuneration totalling £9,000.

The group's total remuneration to its executives last year is sharply lower than in 1994, reflecting the departure Mr Brian Duncan, the former chief executive of its operations in the Republic, at the end of that year.

In 1994, Irish Life reported that its three senior executives shared a total pay deal of £559,000. In addition, the company paid Mr Duncan £293,000 after his resignation.

This year, Irish Life has appointed two new executives to the board, Ms Jean Wood, the company's chief executive, Ireland and UK, and Mr Ron Butkiewicz, president and chief executive of its North American business. Their remuneration packages will not be reported until next year.

Irish Life's fees to its nine non executive directors, which include the chairman, Mr Conor McCarthy, rose by £100,000 on the previous year, to £229,000 in 1995, according to the report.