By Phil Bilney, Partner at +8 Insurance Partners
After decades in insurance broking across Asia, there are a few lessons that stand out—practical insights that have shaped how I lead, make decisions, and help build sustainable businesses. Here are a few of them.
1. Use Leverage Wisely
At FP Marine, we grew to become the leading marine broker in Asia through organic growth alone—no external capital, no debt. It worked, but in hindsight, we could have scaled faster and more effectively if we had used financial leverage earlier. The right financial tools, used at the right time, can significantly accelerate business growth.
2. Delegation Requires Letting Go
Delegation is often talked about but rarely done well. The key is learning to genuinely let go of the outcome. Once you do, you empower others to take ownership and deliver results. It’s a discipline that improves team performance and helps scale leadership capacity across an organisation.
3. Understand How Large Organisations Operate
Experience has shown me the value—and sometimes the risks—of operating within large corporate structures. It’s important to stay aware of the broader context, align with the right people, and remain clear on your values and decision-making principles, especially during times of change.
4. Practical Advice for Newcomers to the Industry
- Develop strong technical skills in your area.
- Build and maintain a strong network.
- Set clear goals but stay focused on execution day-to-day.
- Think long-term, but don’t lose sight of short-term performance.
- Guard your professional reputation—it’s a long game.
- Accept that doing the right thing may not always be popular.
- Outwork the competition when needed. Hard work still counts.
5. Stay Focused on Responsibility and Results
Motivation often comes from knowing that others depend on you. Colleagues, clients, and partners place trust in your leadership and decision-making. Being consistent, reliable, and focused on delivering results is what builds that trust—and keeps it.
6. Stay Curious and Keep Improving
No matter how experienced you are, there’s always more to learn. Whether it’s observing industry peers, adopting better processes, or exploring new ideas, staying curious is essential. Improvement is constant, and often incremental—but it matters.
Conclusion
Good leadership isn’t about being in control of everything—it’s about knowing when to act, when to step back, and how to keep moving forward with integrity and discipline. These are principles that continue to guide me in business today.
