Page 250 - harryDEC12_clean.iba

Fred answered.
“You can ask every Australian Yachtie about me and my firm. As far as experience is concerned, I can tell you we’ve got the best team in the Market, experienced yachtsmen, IT specialists, back office and Accountants. As well, we’ve got our own widespread network of experts in handling claims. And concerning financial standing ... “
Fred plunged into the loose collection of papers that he had been carrying in a leather envelope under his arm, and pulled out the ‘statutes’ of an obviously newly founded company, and as well a bank balance statement with a credit of a million Australian dollars (part of the sale price he had received from MMI - I assumed).
„I think that speaks for itself.“
"So you want unlimited claims authority, if I’ve understood you correctly”
"That’s it. That’s the only way to operate in this Market. Of course we have biennial meetings to talk about the portfolio and its results to which you as the leading insurer would of course be invited in an extremely attractive place. I’m thinking of the resort on the Hayman Islands on the Great Barrier Reef. You’ll love it. Of course your wife or girlfriend is also invited. "
Fred took out a brochure; he had prepared himself well. Aha, I thought, now comes the pied piper bit. Hughes‘ brain was working at fever pitch; he could see himself under the sun of the southern hemisphere in shorts and T-shirt at an „underwriters‘ meeting," rather different from what he was used to at Lloyd’s. The bait did not fail to have its effect. In contrast to Lloyd’s brokers insurers seldom got pleasantries connected with their work.
The temptation to flee from the daily routine of London had a magical effect. As Giovanni Guareschi said:
“Many a man who flees from temptation secretly hopes it will catch up with him”.
And it was just such a moment for John Hughes - his marriage was on the rocks and he looked desperately for distraction. The reader would be surprised as how many business decisions are based on the wish to dodge domestic turbulences.
"Well, I think that all sounds pretty promising stuff - a fascinating concept. Let’s talk it over further at lunch. "
During lunch the main topic of conversation was the beauty of the other continent, which Hughes had never visited. Fred was ecstatic, a master at description and exaggeration. Hughes signed on to a share of 33.3%.
249