MGAA

IUA London Underwriting Centre 3 Minster Court Mincing Lane London EC3R 7DD
TEL: 
+44 (0)207 617 4450
http://www.mgaa.co.uk
  • About MGAA

    The Managing General Agents' Association is a not-for-profit trade association representing true MGAs. Our aim is to represent and support the UK MGA market.  We work within the professional framework of the Chartered Insurance Institute and our members sign the MGAA Code of ethics.

    Managing General Agents (MGAs) are an important, established and fast-growing sector of the UK insurance industry.

    Over 300 MGAs currently underwrite over 10% of the UK’s £47 billion general insurance market premiums.

    MGAs deserve specific representation to lobby on their behalf, communicate their considerable benefits and drive best practice.

    The Managing General Agents’ Association (MGAA) was formed in 2011 to fulfil this role.

    The total number of full MGA members now stands at 101, which collectively represent over £3.5bn of underwriting capacity. 

MGAA Videos

  • MGAA - Introducing the Managing General Agents' Association video

    Peter Staddon, Managing Director of the MGAA talks about the MGAA and its key objectives click here for more
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    YOUTALK INSURANCE VIDEO TRANSCRIPT

    Introducing the MGAA

    Hello my name is Peter Staddon and I am the Managing Director of the MGAA.

    I'd like to take a few moments of your time to talk about the Association.

    If you are Interested in being a Managing General Agent, or are you wondering what an MGA is, let me give you some background information.

    We are the Managing General Agents Association a trade association formed in 2011 to give the industry a better understanding of what an MGA is and how they contribute to the insurance sector in the UK

    First of all we must understand that an MGA is not a wholesale broker but a firm who underwrites insurance business on behalf of an insurance company or Lloyds syndicate.

    Unlike an insurance broker their fiduciary duty is towards their capital provider and not the policy holder.  It is estimated that there are approximately 250 MGAs or Underwriting Agencies operating in the UK who write in excess of £5 billion in insurance premium annually.

    These firms provide the market with specialist knowledge or as an alternative distribution channel to the insurer or Lloyds syndicate.

     The regulator and some market practitioners have not fully understood the workings of MGAs, therefore the MGAA aims to change this and together with our published objectives we will assist MGAs in providing professional underwriting services on behalf of insurers who want to complement their own niche or distribution channels.

     Our objectives include, amongst other things, being a central body to put our member’s views to Government to the Regulator and also to the European Union.

    We represent our members by engaging with stakeholders to explain how changes in the law directly impact the members operations and could have an adverse effect on the consumer or commercial customer.

    We will set out best practice guidelines which will assist the market both member firms and their capital providers with a view of increasing stability, security and the reputation of their own business but also of the industry at large.

    We do this by engaging with our members and listening to their concerns and where appropriate we develop bespoke services to assist them

    Thank you for watching. If you have any queries or would like to get in touch please use my contact details here.

    -Ends-

    -END-

    To watch this video go to http://www.youtalk-insurance.com/professional-bodies/mgaa

    The thoughts and opinions shared in this video transcript are provided for information purposes only and do not represent the views and opinions of You Talk Insurance Limited.  Professional advice should always be sought before making any decision

     

@UKMGAA
RT @DACBeachcroft: We are delighted to be sponsoring @DiveInFest again this year – the festival that's working to make workplaces more dive…
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RT @GIROUX_UK: New data protection laws to have “considerable impact” on insurance industry Are you up to date on GDPR? https://t.co/q9uM…
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Our third annual conference - MGAs: Evolution and Revolution - was a great success. View the video highlights:… https://t.co/I7s8huARuC
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RT @intelligentins: Our MD Peter Staddon is quoted in this look at possible Reinsurance MGAs https://t.co/sZQRDsGmh4 #reinsurance #MGA
@UKMGAA
Market briefing on 12 Sep sees @DACBeachcroft on how to best prepare for General Data Protection Regulation. Book: https://t.co/UHasusOW7F
@UKMGAA
RT @LondonLmg: Exciting role! Are you highly organised, creative, enthusiastic & keen to make real impact? https://t.co/DCEyyXawSA @LondonI
@UKMGAA
We've published our latest newsletter on our website: https://t.co/r7ogV4jqGZ
@UKMGAA
RT @rogerbickm: What a day, please all come along! https://t.co/nZrDn2bg9A
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RT @EC3Legal: IDD Consultation Paper 2 remember to feed in your thoughts #bigregulatorychange @UKMGAA https://t.co/kw5BXW4DFz
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RT @PKF_Littlejohn: #VAT exemption may now be available for providers of unregulated welfare services... Read more: https://t.co/rnlICyv8Qr…
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RT @CIIGroup: The CII would like to thank John Moore MBE for his magnificent service over the past year and welcome our new president Dame…
@UKMGAA
RT @EC3Consultants: Why are less than 50% of customers interested in automatic policy renewal? Learn how this affects attrition: https://t.…
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RT @TMKiln: VIDEO: Did we mention we're sponsoring the #TMKBeachrugby Insurance challenge on Thurs in aid of @LDNairamb? TMK's @rogerbickm
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RT @LoregaLtd: Our adjuster @TuckerAngus talking 'Hazards in the home' at @LloydsofLondon today. https://t.co/Rg2bULGTEx
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RT @GBUnderwriting: Attending the @UKMGAA Hazards in the home market briefing with Dr Andrew Moncrieff @LloydsofLondon #gbunderwriting #ins
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RT @FCcomms: The @UKMGAA's annual conference gave us a chance to hear from MGAs on how they're trying to grow: https://t.co/dkn16KZ8B1 #Ful
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RT @Red10London: Stephen Catlin - insurance needs to embrace innovation & technology changes at @UKMGAA conference https://t.co/cXEE9YRn0k
@UKMGAA
Our next market briefing tomorrow features Lorega & Hawkins on Hazards in the Home. Domestic fires. Book here: https://t.co/jB4G4sLyCD