Our man on the pier assessed Lloyd's Kinnect chairman Iain Saville's performance at last week's Xchanging conference in Brighton. He said: "I was expecting a good talker, ready to expound the grand strategy and motivate the crowd. Instead, we got a surprisingly tentative speech - very quiet, very odd, almost pleading."

He said Saville's rallying cry was: "If we don't get it right now we will have to start again in five years' time." Saville was heckled by the crowd, mostly on 'where has all the money gone', which our man said "brought out a throbbing vein on Dr S's neck".