Aviva Shareholders Reject Remuneration Report - Wall Street Journal

(Adds final vote and background throughout.)

LONDON (Dow Jones)--U.K. insurer Aviva PLC (AV.LN) suffered a humiliating rebuke Thursday on its executive pay policy, as shareholders rejected its 2011 remuneration report by a 54% vote, making it the latest and one of the largest financial services companies to suffer the wrath of investors.

The nonbinding vote makes the insurer only the fourth FTSE 100 company in history to have its pay report rejected. Similar defeats were recorded in previous years: GlaxoSmithKline PLC's (GSK.LN) 2002 remuneration report was rejected by 51%. Royal Dutch Shell PLC's (RDSA.LN) 2008 pay report was rejected by ...