MGAA boss Keating weighs in as broker survey backs dedicated MGA regulation
A recent survey of insurance brokers has shown backing for the establishment of a dedicated regulatory framework for MGAs, with 68% agreeing that the Financial Conduct Authority should regulate MGAs separately from insurers and brokers.
The poll, conducted by managing general agent Corin Underwriting across 147 brokers, also found 67% of brokers indicating they would be more inclined to work with MGAs if such a framework were introduced.
Mike Keating, CEO of the Managing General Agents’ Association, said: “These survey results support the continued dialogue the Association enjoys with the FCA around the topic of a dedicated regulatory framework that reflects the distinct role MGAs play in the insurance ecosystem.
A tailored
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@insuranceage.co.uk.
You are currently unable to print this content. Please contact info@insuranceage.co.uk to find out more.
You are currently unable to copy this content. Please contact info@insuranceage.co.uk to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@insuranceage.co.uk
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@insuranceage.co.uk
More on Insight
Aviva Health boss Steve Bridger takes claims role as Waseem Malik exits
Aviva has appointed Steve Bridger as chief claims officer for UK and Ireland general insurance, replacing Waseem Malik, who has left the business.
Biba 2025 Countdown: Beazley’s Sam Franks
Sam Franks, country manager and head of partner engagement for the UK & Ireland at Beazley, promises plenty of pink and underwriters on its stand; offers advice about how brokers can differentiate themselves from their peers in the market; and looks forward to being energised and reconnected after the event.
SRG to add credit and political risk team from Tysers
Specialist Risk Group has signed up for Tysers’ credit and political risk (re)insurance team to join the business.
The generational wealth gap and investment risks – a looming risk for brokers
Financial constraints have led to a greater reliance among younger generations on alternative investments that pose higher risks for investors and their financial advisors. As a result Kate Albert, CEO and co-founder at Kova Professions, warns brokers will need to look again at risk profiles.
People Moves: 22 – 25 April 2025
Follow the latest personnel moves in insurance.
UK commercial rates falling faster – Marsh
The pace of UK commercial insurance rates dropping quickened in the first quarter of the year, outstripping the global fall.
Biba 2025 Countdown: BluNiche UK’s Ed Mitchell
Ed Mitchell, head of BluNiche UK points to some exciting new product developments; suggests Manchester Art Gallery for a meeting with a difference; and hopes that they leave with fewer giveaways than they came with.
Probitas CEO Bathia and MD Bacon to retire
Probitas CEO Ash Bathia and managing director Nick Bacon will retire on 31 July 2025, a year after the £249m Aviva deal went through.