Proceeding with caution.
A survey of MGA and insurance carrier opinion on the state of the MGA Sector
We are pleased to present our report “Proceeding with caution: A survey of MGA and insurance carrier opinion on the state of the MGA sector”.
Our research included a survey of over 120 UK-based insurers and MGAs, seeking views on the state of the market and the MGA-insurer relationship, and the impact of COVID-19 on the sector.
You can see an outline of some findings and download a copy of the report below.
KEY FINDINGS
• A majority of carriers and MGAs agree that setting up a new MGA will be harder this year but existing players feel secure
• 64% of carriers and 66% of MGAs think the number of relationships will hold steady or increase in 2020, even in a hardening market
• Over half of carriers say the impact on capital availability will be positive or neutral post COVID-19
• Carriers will use MGAs to give access to new markets and provide technical insight and capability
• 96% of carriers and 84% of MGAs believe the shift to electronic placement and data standardisation will accelerate as a result of COVID-19
