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Singapore's High Court has awarded S$4m* dollars ($2.9m) to a former insurance agent after a letter of reference lost him a potential new job.
Singapore's Court of Appeal had asked the High Court to determine the damages after ruling last year that AXA had breached its "duty of care" to Ramesh Krishnan when its references cost him a S$2.2m ($1.6m) job with Prudential.
Ramesh - Claims - Defamation - Falsehood - Negligence
Ramesh brought claims of defamation, malicious falsehood and negligence against AXA over references given to Prudential, to Tokio Marine and to the Monetary Authority of Singapore.
Ramesh had been employed by AXA from 2005 to 2011, leading a group of advisers. Apart from being promoted twice in that period, Ramesh also won "numerous awards and accolades", the court said.
Relationship - Ramesh - AXA - Executive - Ramesh
However, the relationship between Ramesh and AXA began to deteriorate after a new chief executive was employed. Ramesh eventually resigned in April 2011 and began to look for other work.
In its references...
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