Aviva's chief executive Mark Wilson's take-home pay more than doubled to £5.67 million last year, after the purchase of rival Friends Life, the British insurer's annual report showed.

Aviva completed the £5.6 billion acquisition in April last year, creating a market leader in life insurance. It posted a 20 per cent rise in operating profit for 2015.

Mr Wilson received a bonus of £1.78 million or 182 per cent of his basic salary due to “strong financial performance” and progress on strategic objectives last year, Aviva said.

The chief executive, who joined Aviva at the beginning of 2013, also received payments of £2.56 million for the first time from a long-term incentive plan, based on a three-year performance period to end-2015.

Aviva’s share price rose by 38 per cent over the period. – (Reuters)