Newspaper article The Evening Standard (London, England)

The '[Pounds Sterling]70m' City Divorce; 'King of Insurance Market' Stands to Lose Half His Fortune

Newspaper article The Evening Standard (London, England)

The '[Pounds Sterling]70m' City Divorce; 'King of Insurance Market' Stands to Lose Half His Fortune

Article excerpt

Byline: RICHARD EDWARDS;NIGEL ROSSER

ONE of the biggest names in the City is facing a multi-million pound divorce battle.

John Charman, the "king of the London insurance market" - worth up to [pounds sterling]144million - is being divorced by his wife Beverley after a 28-year marriage.

Sources said Mrs Charman has been asking advice from friends in the legal field as she seeks a favourable settlement at the High Court.

Mr Charman's former colleagues at Lloyd's of London are speculating on how much his wife could receive. Family law experts said it could be as much as [pounds sterling]70million. A hearing on the divorce is listed at the High Court for Friday.

Sandra Davis, one of the country's top divorce lawyers, said: "In a case where a couple have been married for 28 years and during that period the man has earned most of his wealth, it is not inconceivable that the wife could contend for and get as much as 50 per cent of the family assets.

"There is no doubt whatsoever that she will comfortably obtain an eight-figure settlement."

The case comes at a time when divorce laws are changing rapidly.

Three months ago a landmark ruling awarded the wife of footballer Ray Parlour up to [pounds sterling]1.8 million of his future earnings.

Karen Parlour argued she had played a vital role in building the career of her former husband by providing a stable home life and steering him away from the drinking culture of many footballers.

The case has opened the way for thousands more to claim up to half of their ex-partners' salaries for years to come - and is another legal battle the Charmans may yet face.

Mr Charman, 50, is known as one of the City's most ambitious men.

His ultimate intent, say his competitors, is to become Britain's first insurance billionaire.

Some of his longest-standing colleagues never met his wife because he was keen to keep his private life separate from work. …

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