Axis Ex-Chairman to Receive $36 Million Payoff, Times Reports

John Charman, ousted as chairman of reinsurer Axis Capital Holdings Ltd. (AXS) last month, will receive a $36 million payoff, the Sunday Times reported, citing filings with the Securities & Exchange Commission.

Charman will get $13.9 million in place of pension payments as well as shares worth $22 million, the newspaper said. He also owns a $78.8 million stake in Axis, which he set up in 2001, according to Sunday Times.

To contact the reporter on this story: John Glover in London at johnglover@bloomberg.net

To contact the editor responsible for this story: Paul Armstrong at parmstrong10@bloomberg.net

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