Martin Lewis, the founder of MoneySavingExpert, is to receive over £19mln or three quarters of the deferred consideration agreed when it was taken over by Moneysupermarket.com (LON:MONY) in 2012.
Some £27mln of the original £87mln consideration was outstanding with the final payment based on non-financial metrics and a discretionary decision.
Moneysupermarket said £20.6mln, 76% of the maximum, will be paid in cash with £19.2mln payable to Lewis, who since September has been MSE’s executive chairman. Certain other MSE employees will receive the rest.
Lewis is to give £1mln to Citizens Advice while his charity the Trussell Trust and the Personal Finance Education Group are to get £500,000 each.
Moneysupermarket, meanwhile, said that it would meet forecasts for 2015 despite a slowdown in the current quarter as insurance markets tighten.
Income rose by 14% in the three months to September to £76.2mln with insurance revenues seeing no growth. MSE’s income jumped by 41% to £8.5mln.
For the nine months this year so far, Moneysupermarket’s income is 16% higher at £220mln.
Peter Plumb, chief executive, said: "People are now seeing they can switch online and save money on far more than just car insurance.
“Our multi-channel offering across three brands has helped nearly five million families save over £200 on average on their bills in 2015, from energy to credit cards.”