Billion pound deal prompts scrutiny of MGA-insurer relationship
Insurers re-evaluate relationships while MGAs seek out new partners
A host of activity in the managing general agent (MGA) arena has brought the strengths and challenges of operating as a ‘third force’ player into focus.
At the heart of the movement was Towergate Underwriting with a couple of eye-catching capacity agreements. One was the announcement of a £1bn deal consisting of several five-year contracts with the likes of RSA, Allianz, QBE and Zurich. But, at the same time, it emerged that Axa would no longer provide capacity for Towergate’s household MGA.
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