Global re/insurance outsourcing and consulting specialist Pro Global Holdings Limited (‘Pro’) is delighted to announce it has received regulatory approval to rebrand Vibe MGA Management (‘Vibe MM’) to Pro MGA Solutions Ltd in the UK, and is further progressing its strategy to expand its global insurance distribution services and MGA incubator offering.
Effective immediately, the rebrand to Pro MGA Solutions Ltd follows Pro’s acquisition of VibeMM in London, UK, in April this year, a deal which received regulatory approval from the U.K Financial Conduct Authority (FCA) in September.
Pro MGA Solutions Ltd will work with Pro’s global MGA operations which also include Pro MGA Solutions Inc, based in York, PA, U.S, while further European expansion is also planned for the coming months.
Artur Niemczewski, CEO of Pro, said:
“It’s hugely exciting to be working with Danny and the global Pro MGA Solutions team to expand our global distribution services offering. The rebrand to Pro MGA Solutions Ltd in the UK paves the way for the combined Vibe MM and Pro teams to continue their dynamic growth journey, responding to strong demand for international reach, expert service and growth support capabilities in this space.
Uniquely, we can help clients look at opportunities on both a local and a global level, giving access to opportunities they might not have previously been able to reach. We believe there are many great opportunities for carriers and brokers to break into new areas, broaden distribution options, geographic presence and product ranges through the MGA structure.
We also believe that working with an MGA can also enable a more traditional business to test out new technology for either underwriting or distribution before it is rolled out more widely, and our recent strategic partnership with intelligent decision platform provider QOMPLX, Inc. is a reflection of the direction of travel for this market.
The MGA business model is at the forefront of what insurance will look like in the future, and indeed is at the top of many strategic agendas as carriers and other risk capital partners look to grow into areas they previously thought were unattainable.”
Pro MGA Solutions CEO Danny Maleary said:
“It’s a great pleasure to receive the green light to rebrand as Pro MGA Solutions Ltd. Following our acquisition by Pro, we have received a strong flow of business enquiries, with at least 25 opportunities currently being considered for incubation. We are currently working with eight MGAs and have plans to expand this to 10 in the coming months.
As well as being able to service entrepreneurs who want to set up a new business and are searching for capacity, our MGA to Order model allows us to work with both existing and new carrier clients from global specialty re/insurers, to help build MGAs to fit their specific strategic initiatives.
Our scope as a combined entity has expanded our MGA offering beyond front end services to complete cradle to grave fulfillment, as well as broadening the scope geographically with the operation in the US. We are also working on plans to Launch Pro MGA Solutions Europe later this year, and are exploring opportunities to support the vision for a digitally transformed, efficient and more profitable future at Lloyd’s.”