Howden lifts the lid on MGA sale valuations
The UK remains the largest European market for MGAs, with gross written premium estimated at approximately £7.2bn in 2025, up around 20% year-on-year (2024: £6.3bn).
That is one of the headline findings of Filtered for quality, the latest MGA report from Howden Re which estimated diversified specialty platforms are being sold in the ~15–16x Ebitda range.
It found the total European MGA GWP reached approximately £18bn in 2025, up 15% year-on-year, outpacing both the US (+7%) and the wider US P&C market (+5%).
After the UK, Howden Re revealed the next largest MGA markets were Benelux with €3.7bn (£3.2bn) and Italy with €3.3bn. France and Germany trailed some
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