b"Through a mutual friend, John contacted Austbrokers CEO Lach McKeough to sound him out about the prospect of buying AIBA out of MGA. The ultimate aim was for them to buy out AIBA and enter a joint venture deal with MGA. Lach McKeough and Austbrokers were impressed by Johns determination and vision. We could see John was a serious player, Lach recalls. Established in 1985, Austbrokers had done on the east coast what MGA was doing in South Australia. The two business models were not miles apart, and AustbrokersA window of opportunity opened ever so slightly.shared a similar ethos to MGA.They were being looked at as a takeover target.And the potential buyer knew AIBA had a problemAround this time, AIBA Groups investors startedwith us, and we were a fair piece of their business.reconsidering their options. Several major investors So they thought maybe we need to fix this MGA in the group sought an exit from insurance broking. problem, says Allan.Word leaked that these investors were open to offers53for their stakes in MGA. Another insurance group, AON,The three MGA founders played hardball. They was touted as a potential buyer. John, Allan and Brianleveraged their position in MGA and threatened to had no interest in a joint venture with AON. They knewwithdraw from any AON deal. The situation became AON was interested only in a majority-controlled stake. untenable for AIBA. With its bluff called, Austbrokers swept in to buy out AIBA. The date 19 April 1996 is a significant one in the'All of a sudden, I was MGA Whittles story. That day, Austbrokers tookback in the company again.a 49.9% stake in MGA, finally freeing the companyfrom its ill-fated AIBA Group partnership. Not long It felt like a homecoming.'after, John was reappointed as managing director.The nightmare was over. JOHN GEORGEAll of a sudden, I was back in the company again.I didnt just march back. They invited me back. It felt like a homecoming, John reflects.The joint venture worked perfectly for Austbrokers, according to Lach. The fundamentals were there. They were good operators. It fit our model. And we had the capital to do it. Once we got the deal done, we put Opposite Lach McKeough. John back in the drivers seat."