Billion pound deal prompts scrutiny of MGA-insurer relationship


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.