"Long-term Thinking for Short-term Insurance" — Marthinus Visser, Group CEO
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"Long-term Thinking for Short-term Insurance"
The Peregrine podcast, Building Conviction - Episode 1 traces OUTsurance’s journey from a single Centurion office in 1998 to a multinational insurer worth more than R100 billion on the JSE, in conversation with Group CEO Marthinus Visser and Jacques Conradie, CEO of Peregrine Capital.
EPISODE HIGHLIGHTS
- 01:16
Meet the guest: 28 years inside OUTsurance, CEO since 2018
- 04:19
Day one at OUTsurance, 1998 — "100 people… great systems… but a poor loss ratio"
- 08:42
Where the OUTbonus came from
- 10:14
Ireland pays its first OUTbonus next year
- 11:46
His rule for hiring: "Never be afraid to appoint people smarter than you"
- 14:27
Why OUTsurance picked Australia over Brazil to launch Youi in 2008
- 17:53
A 29% compound growth rate since 1998
- 35:58
Capital discipline: "Don't bet the farm"
- 53:07
The Conviction Card: why a big natural disaster can be good news for long-term investors
"Rebuilding the Fortress" — Steven Brown, CEO
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"Rebuilding the Fortress"
Brown explains how a flawed dual-share structure, capped A shares and geared B shares with equal voting rights, nearly broke the company, the R7 billion NEPI Rockcastle deal that finally fixed it, and the growth strategy that has followed across logistics, retail and Central Europe to help build a R54 billion property portfolio.
EPISODE HIGHLIGHTS
- 07:18
Taking the CEO job "without any euphoria"
- 13:57
Capping distributions at real cash generated
- 16:13
Shareholders reactions
- 23:04
Why the fix required giving up REIT status
- 24:23
The "dark, dark days" of warring A and B shareholders
- 42:12
Fortress's capital allocation priorities, ranked
- 43:35
The Balfour Mall acquisition
- 56:08
Brown's Conviction Card on the listed property sector
"Built to be Different" — Gerrie Fourie, Former CEO
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"Built to be Different"
Fourie explains how an outsider's client-first thinking helped build Capitec into South Africa's largest bank by market capitalisation. He covers why it took the market twelve years to understand the business, the fixed capital rule that carried it through the Viceroy attack and COVID, and where the next phase of growth will come from.
EPISODE HIGHLIGHTS
- 09:38
"We're retailers, we think client and then risk"
- 16:19
"Guerrilla warfare": building from the outside in
- 26:11
Why every client got the same gold card
- 31:31
Cutting Mercantile's 64 products
- 39:55
Making every employee a CEO
- 45:29
The Viceroy attack: "There was no script"
- 50:11
The 25% return-on-equity rule
- 1:10:26
Fourie's Conviction Card on execution