INSURANCE executive Trevor Matthews received a golden hello worth almost £2.5 million when he moved from Friends Provident to Aviva.

The former Standard Life director surprised the market when he announced he was becoming Aviva UK boss last year.

The company's annual report reveals he received £2.02m in shares, which will vest in tranches during 2012, 2013 and 2014, plus a £470,000 cash payment when he began work in December.

The report said: "The award was necessary to secure Mr Matthews' recruitment and is subject to clawback provisions."

The document also shows Mr Matthews received a £45,000 bonus for his employment at the insurer in 2011 and will now pick up an annual salary of £720,000.

Andrew Moss, group chief executive, will see his basic salary top £1m for the first time with a 4.8% increase from next month.

His £2.685m awards for 2011 included £951,250 basic salary, £1.16m in cash and shares bonus and a £480,000 contribution to a long term savings plan.

There was also a granting of long-term incentive share options worth £2.5m.

The remuneration report said: "The committee considers alignment between Group strategy and the remuneration of its senior executives to be critical.

"It believes that senior executives should be appropriately rewarded for the delivery of stretching goals but should receive reduced rewards when the business performs poorly."