In-depth - MGAs: Agents of change

Egg hatching

The MGA sector is showing strong growth, but how is it affecting the market and is there a risk it could go pop? Sam Barrett asks

Managing general agents (MGAs) have become a significant force in the insurance market over the last 10 years. But, with a number of threats on the horizon, there are concerns the recent growth in the market could be a bubble. 

The market has certainly grown rapidly, says MGA Association (MGAA) managing director Peter Staddon. “When I joined the MGAA back in November 2013 we had 70 members writing around £2bn of business. Today we have 131 members writing more than £4bn of business.”

Looking

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Applied updates on commercial push

Applied Systems has confirmed Arch Insurance is about to enter the pilot phase of onboarding and will be live on the Applied Epic broker management system in April, with Iprism and Ark to follow and more promised in 2024.

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