Welcome to the June edition of Marine Matters from Coleman Marine Insurance, a Gallagher company.

This month we meet Chris Gates, Founder and CEO of Setag Yachts, a long-standing and leading marine industry figure and client of Coleman Marine Insurance.

We also chat to Coleman Account Executive Angie Pitman and learn about her longstanding passion for JRR Tolkien.

If you would like to find out more information about our business and its services, please contact us on 01202 497410 or visit our website for more information by clicking here

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Chris Gates, Founder and CEO, Setag Yachts

Tell us about yourself, Chris

I am married, with three grown-up children – a son of 31, and two daughters aged 26 and 29.

I am the former CEO of Princess Yachts and spent 31 years growing one of the leading brands in the luxury yacht sector.

I have now embarked on my own personal marine journey and venture, recently launching Setag Yachts.

When I joined Princess in 1989, there were no bills of material, no planning system and no computers, mobile phones or emails.

By the early 1990s I had helped to implement the business systems to enable the company to build 1,000 boats in a single year.

I pride myself on recognising and growing talent within the company and, through my close relationships with a number of boat builders, have created a wealth of talent at Setag Yachts, which includes engineers, interior designers, production and logistic experts.

The marine world is a fascinating industry: a very endearing sector with some great people; it has a real draw.

I’m incredibly proud of what I achieved at Princess Yachts – we were 400-people strong in the 1990s and 3,400-people strong when I left. I have a renowned reputation worldwide; my career has been a fantastic journey for me.

And Setag Yachts? 

Our aim is to be the world’s leading design and refit service for Princess, Sunseeker and Fairline yachts.

At Setag Yachts, we are raising the concept of refit to a new level of luxury.

For us, luxury isn’t just something you buy off the shelf, we are here to help to deliver it – redefined, refitted and remastered.

We have created a phenomenal team with over 200 years of designing and building Fairline, Princess and Sunseeker yachts; we have talent within build, engineering and design – a incredibly unique combination which makes us unrivalled in our expertise.

A refit is a complicated affair and, for that reason, this quality of service and staff is essential. The business is based in Plymouth and Poole, due to the locations of staff involved.

Retirement beckoned when I left Princess, however, during lockdown one I realised that I certainly wasn’t ready for retirement.

I looked at opportunities in the industry and realised that there was a gaping opportunity to provide a luxury refit service to the pre-owned boat market.

I see very clearly a phenomenal opportunity of providing a level of service that has matured in the new boat market over time.

The greatest form of luxury is personalisation – everyone hankers for that in every form of life. I don’t see any reason why the pre-owned yacht market shouldn’t have the same level of service.

I believe it’s crazy to live with the wear and tear of a boat over its lifetime. These boats have given a huge amount of joy to people but they take a fair amount of abuse and like all items they have aged, some badly!

When we redesign a yacht, it will be delivered back to the client feeling like a brand-new boat. They will be the first person to sleep in the bed, walk on the carpet, sit on the sofa….

At Setag Yachts we sit down with our clients along with an interior designer and engineering expert and we will create the interior and technology spec of their dreams.

We offer three levels of service:

• A Refresh – which includes replacing carpets, curtains, mattresses, bedding etc.
• A Refit – where we take down all the linings and totally change the wall coverings and soft furnishings.
• A Remaster – which allows the client to change anything they like.

Super yachts are very personalised when built and an individual boat, most likely, won’t be the spec of taste for the next purchaser.

Most of our clients choose the Refresh service in their lower accommodation and the Refit service in the living accommodation and exterior.

Each project is truly bespoke, catering to individual needs. I like to use the analogy that if you are moving into a new house, you naturally want to renovate it to put your own stamp on it – to make it feel like your home. So, why would you be happy to live with someone else’s taste when it comes to your boat?

Setag is founded on a deep-rooted knowledge and understanding of every stage of the process of creating the best motor yachts in the world.

Boatbuilding is in our blood, offering you the confidence and reassurance that your treasured yacht is in the hands of the experts.

Our team have worked for the biggest boat companies globally, producing iconic designs for brands including Princess, Sunseeker and Fairline. Despite the rivalry between the brands they formerly worked for, each is motivated by a common passion for perfection in boat design and building. In essence, these are people who care about their craft and are fiercely proud of their reputation and credibility.

• setagyachts.com

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Name: Angie Pitman

Role: Account Executive responsible for managing some of our larger marine client portfolios

How long have you been in the business?

I joined Coleman’s in 1994 but started my insurance career in 1979 at a national broker and during that time spent two years working in London placing risks in the Lloyds underwriting room which was a unique experience, I even had to pass an exam before being let loose on the underwriters!

What’s your marine career background?

Prior to joining Coleman’s I worked in the Commercial Department of a national broker but this also involved handling a lot of cargo insurance which gave me a taste for marine insurance. When I joined Coleman’s it was a wonderful experience and I learned a lot because the job role involved managing both marine and non-marine business. Even after 40 years in the insurance business there are still new things to learn.

What’s the best thing about your job?

The variety of work and meeting some great people. I get a lot of satisfaction from helping clients with their insurance requirements and finding solutions for problems using my experience and qualifications. I consider my clients as friends and always want to find the best outcome for them.

Of course the other side of my job is working with insurers and persuading them to take on risks. Through this work I have met many wonderful people with whom I have built up some excellent business relationships over the years based on trust and understanding.

It has been a privilege and an honour to work on the RNLI insurance portfolio for the past 20 years and this is something that has been a highlight in my insurance career having been involved in the original team who won the account. I continue to enjoy managing the RNLI insurances with superb support from my colleagues.

I also enjoy acting as a technical referral point for colleagues and finding ways to help them respond to a problem, and hopefully learn something in the process. I have also run some classes helping colleagues with their professional insurance examination preparations and that was an interesting challenge as having passed my insurance exams some years back it was like going back through a time machine reading over the study books again.

Use three words to describe yourself

Dependable, thoughtful, tenacious.

What did you want to be when you were growing up?

A barrister, I loved the idea of researching and presenting persuasive arguments to win the case, but wasn’t sure about the wig and gown!

I didn’t pursue this career path and decided to give insurance a try for a while, which uncannily has a parallel with the legal profession when placing risks and handling claims.

Who do you most admire?

Of all the people who have inspired me the person who ranks top of the list is JRR Tolkien who wrote amongst other books, The Hobbit and Lord of the Rings.  As a child I was engrossed in the books and he inspired me to become a better reader, writer and student.

Tell us something about yourself that we don’t know

I was a special constable for Dorset Police for ten years which was an interesting and exciting time in my life and taught me a lot.  Latterly I found out that my grandfather had been a special constable during the war so you could say it was in the genes.