Shareholders Reject Aviva's Pay Policy

British insurer Aviva said Thursday that more than half of its shareholders have failed to back its executive pay awards, in the latest sign of growing investor anger over boardroom pay.Aviva said in a statement after its annual general meeting in London that 54 percent of shareholders voted against the insurer's remuneration report.Including abstentions, almost 59 percent of investors failed to endorse the group's executive pay policy.

U.K.

U.K. insurer Aviva said it would review its remuneration policy in response to mounting shareholder pressure on pay, and that Chief Executive Andrew Moss had turned down a proposed 2012 salary increase.