A few weeks ago, ex-JLT boss Steve McGill stood up in the Lloyd's library and in Terminator-style proclaimed: "I will be back." Well, it seems McGill is ready to wear the 'comeback king' crown similar to ex-Cox Insurance chief Neil Utley. Rumour has it that McGill is speaking to three venture capitalists to raise capital for a new broker. But his past record in the investment market, in particular in the US, might mean convincing investors will be difficult. However, Wellington Underwriting is preparing to get the juices flowing among investors. It is understood Wellington chief executive Preben Prebensen has given himself a two-year mission to get the share price moving. The ebb and flow of the listed Lloyd's vehicles have failed to affect Wellington, and breaking through the 100p barrier remains elusive. The insurer could be worth a punt because it hopes to realise the capital from its stake in Aspen, which floated last year.
