b'CHAPTER 07DARK DAYS46 I magine being the founder of a companychoice, but thats not how it works. We saw it as an youve built for the better part of twoopportunity to put some money into the business and decades, and then being pushed out. that they might be able to open some doors for us.It happened to John George.However, soon after, a debt-stricken NZI retreated from MGA experienced a halcyon period of growthits holding as part of a broader corporate restructure, during the 1980s. Through the merger of threeselling a significant portion of its stake to the AIBA separate businesses in 1982, the acquisitionGroup, a fast-rising Sydney-based insurance business of Whittles and the expansion of officesexpanding its broker network. Suddenly, MGA wasthroughout South Australia, it experienced in business with AIBA.a success most companies could only dream of.Their joint venture agreement contained a clause that At the end of the 1980s, it sought new ways to enabled AIBA to buy out minority shareholders in fund that growth. Enter New Zealand Insurance. MGA. In retrospect, Brian says the loophole revolved around an ambiguous interpretation of the word may, In 1989, MGA sold a substantial stake in the companyregarding acquiring shares in the business. AIBA to NZI, which wanted to increase its foothold in theacted within its legal rights, but Brian felt it was not in broking market. Allan Amber says NZIs strategy waskeeping with the spirit of the agreement. But if you naive. I think they thought owning a stake in a brokingshake hands on it and the deal doesnt work out, a firm would get them a shot at being the insurer of firstcontract is still a contract, he says.OppositeDark cloudson the horizon.'