The £500,000 goodbye from RSA for 'good leaver' Haste

Andy Haste, the former chief executive of insurance giant RSA, received a £500,000 golden farewell in cash, despite leaving the company by his own choice at the end of last year.

The controversial pay-out helped take his final year's salary and bonus package up by an inflation-busting 27 per cent to £2.77m.

RSA defended the £500,000 payment, saying that Mr Haste, who had been chief executive for eight years, was "treated as a 'good leaver' in light of his performance and commitment to the company".

It added that he had been paid off for the remaining seven months of his contract.

Mr Haste announced his resignation last August but did not leave until the end of the year.

On top of the £500,000 cash farewell, he received a salary of £956,000 and an annual cash bonus of £883,000.

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