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.
LMA and MGAA enter reciprocal arrangement to support delegated authority sector
The Lloyd’s Market Association (LMA) and the UK’s Managing General Agents’ Association (MGAA) have formalised a reciprocal working relationship as part of the LMA’s delegated authorities communications framework. The aim of the framework is to improve information sharing and communications between managing agents and both coverholders underwriting on their behalf and third party administrators handling their claims.
On a global basis, business written through delegated authorities currently accounts for around a third of Lloyd’s gross premium income and this figure is growing year-on-year.
Peter Staddon, MGAA managing director, said: “The Association is committed to supporting a thriving managing general agents’ sector. By working more closely with the LMA we are able to improve coverholders’ access to the Lloyd’s market and to reduce unnecessary duplication of effort and cost for both coverholders and managing agents.”
David Gittings, CEO of the LMA said: “A closer relationship with the MGAA is an important part of our wider strategy to create more effective communication channels with a variety of stakeholders involved in coverholder operations. This should enable us to keep all of those stakeholders informed and for them to share issues with us, making the Lloyd’s market a more attractive place for delegated authority business.”
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