One of Bermuda’s worst-managed insurers – Quanta Capital Holdings Ltd. – has shelled out another massive severance package to a senior officer.In an SEC filing on July 27, 2006, the firm disclosed that it will pay $2 million to Michael J. Murphy, the firm’s Deputy Chairman and former Chief Operating Officer. Murphy, 55, served as COO of Quanta Capital from its inception in 2003 until March, 2005, after which he served as “Chairman of the Office of Strategic Innovation”, and as Quanta’s Deputy Chairman from 2003 until his departure from the firm, effective July 25, 2006.
Quanta Capital rewards another senior officer for failure
18 years ago
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Bermuda Insurance Listed SecuritiesKeywords
Bermuda Insurance Market Michael Murphy Quanta Capital