The Evening Standard is reporting that AXIS CEO and president John Charman (pictured right) could lose up to half his fortune in a divorce from his wife of 28 years.

The newspaper reported yesterday that Mr. Charman, 50, who is worth up to ?140 million, is being divorced by his wife Beverley.

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

The Evening Standard reports: "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 ?70 million."

Some of Mr. Charman's longest-standing colleagues reportedly told the newspaper that they never met his wife because he was "keen to keep his private life separate from work".

One told the newspaper, "He doesn't let anything get in the way of his ambition."

Another City observer told the newspaper that Mr. Charman has a new girlfriend who is a "young, good-looking and ambitious woman".

A hearing on the divorce is listed at the High Court for tomorrow.