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Insurance magnate who owes £48m to ex-wife to be pursued

Insurance magnate who owes £48m to ex-wife to be pursued

Insurance magnate John Charman is set to be pursued by lawyers who aim to recover the £48 million he owes his ex-wife as part of a divorce settlement, The Lawyer reports.

According to the publication, the tycoon is now being chased by lawyers instructed by his former wife Beverly Charman to make him pay up the money.

The case, which has already received much media attention, is expected to be heard in March.

Mr Charman had been ordered to pay the sum, which is thought to be the largest amount ever awarded to an English wife, following a hearing at the court of appeal in May.

The pair married in 1976 and have two children. In 2005, they divorced and Ms Charman filed for damages.

Mr Charman is the president and chief executive officer of insurance firm Axis Capital Holdings.