On Merrett
I ALWAYS expected to see Stephen Mer- rett as Chairman of Lloyd's, and I dare say he did too. His father was a hero of Lloyd's, and he himself led the market and stood on his own feet and other people's. He had insured the early satellites and when two of
them got lost in space, he teamed up with some astronauts and brought them back to earth. When the Sasse syndicate was shown up as the arsonist's friend, the committee of Lloyd's asked him to sort it out. He was prepared for a fight, the committee's instincts were for peace and quiet, and he finally turned in his brief. I can see him now, white with anger at Lloyd's pusillani- mous rulers. The affair and their response were evil omens. Years later, he was on the working party which mapped out the new Lloyd's, and when its leader, David Row- land, became Chairman, he was the obvious choice as deputy. Now, though, the troubles of his own syndicates have thrown up con- flicts of interest, and he has resigned. To me, he represented the best of the old Lloyd's — which, I suppose, has gone with him.
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