Brokers welcome swell in MGA numbers
Relative ease of setting up MGAs and promoting choice in market cited as reasons for increase
The market has seen a further increase in new managing general agents (MGA) opening for business lately and insurance experts have argued that they bring opportunities for brokers.
Jason Anthony, who recently launched MGAM, said ease of route to market was one of the reasons behind the ongoing surge.
“Twenty years ago people like me would probably have been thinking about setting up a syndicate in Lloyd’s, but the barriers to entry now are quite prohibitive,” he noted, adding that an MGA, much
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