Ep171 Alex Powell of Aegis: Realistic, but with an added dose of niceness

Aegis London is one of the most consistently top performing syndicates in the Lloyd’s market. It’s also one of the least volatile. The business has a new CEO, Alex Powell and so it was only natural that I should invite him onto the show for a catch-up. Alex has been with Aegis since the year 2000 when it was a fledgling syndicate so he knows this firm inside and out – to use his own phrase, he’s been sheep-dipped in this business’s culture.It’s clear from this meeting that we shouldn’t expect radical departures from Alex – but that doesn’t mean that we shouldn’t expect Aegis London to be radical. Because this is a radical business at heart. It’s found a way of putting into practice what many preach but what is enormously difficult to do – grow when you can and preserve capital when you can’t – and all the while maintaining a healthy balance that brings genuine diversification benefits. It’s also pioneered the digitisation of specialist business classes with a large degree of success, which is something many would not have predicted.In this meeting we spend a lot of time examining the market and going over the secrets of Aegis’s success. I don’t want to spoil it for you, but a bit like his predecessor David Croom-Johnson, Alex seems to be a good living example of the culture he wants to engender in his staff. He is easy-going, curious, smart and charismatic and is open and honest about his strategy and what has and hasn’t worked over the yearsHe’s not prone to hyperbole and gives a strong impression that he would be an excellent person to work for. And perhaps that is the real secret as this business looks to make the most out of what remains of this hard market. But don’t take my word for it. You should hear it for yourself.LINKSWe thank our naming sponsor AdvantageGo:https://www.advantagego.com/