New MGA Market Monitor is Launched

It’s especially interesting for brokers to keep up to date on the UK MGA market, so this data source is very welcome;

The QualRisk Cyber Insurance Center (QCC) released its Cyber MGA Periscope, the first data product dedicated to an ongoing detailed monitoring of the cyber MGA market.

The QCC Cyber MGA Periscope represents the most comprehensive report on cyber MGAs and provides insights into the dynamic cyber insurance market.

“MGAs have been and are a crucial part of the cyber insurance value chain, driving much of the recent top-line premium growth and receiving more than $1.5 B in venture capital funding in the past eight years. However, our Cyber MGA Periscope report reveals that the cyber MGA market has today reached a pivotal crossroad,” said Daniel Kasper, CEO of QCC.  “While profiting from the steep cyber insurance rate increases prior to 2023, the recent interest rate increases, plummeting insurtech investments and a second surge of ransomware in addition to the CrowdStrike incident are putting many MGAs under pressure to secure funding and capacity at favorable terms.”

In addition to proprietary underwriting insights, MGAs offer clients additional value-adding and risk-mitigating services, such as cyber security and monitoring platforms, dark web checks for leaked information, and fast access to specialized incident responders in the case of a cyber event. However, recent macroeconomic and cyber insurance-specific developments have created performance challenges for these MGAs.

The QCC Cyber MGA Periscope is a valuable new tool for carriers, brokers, MGAs and capital providers who participate in the cyber insurance market.   It is available for one-time purchase, or on a subscription basis with semi-annual updates provided to subscribers.

Tracking MGAs in the US, Europe, and the APAC region, the Cyber MGA Periscope provides insights into:

·         Historical, current, and forecasted future dynamics of the Cyber MGA market firmographic data and business strategies of 34 MGAs.

·         The latest MGA financing and M&A activities , including investments & acquisitions, and valuations.

·         Detailed profiles on the Top 16 MGAs , including strategies, capacity provision, cyber security partners, and information on funding and valuations.

·         Strategic Intelligence on the approach of legacy carriers and reinsurers to MGAs, showcasing the breadth of strategies of legacy insurers towards Cyber MGAs.

For more information on the Cyber MGA Periscope, please visit https://qualriskcyber.com/mga-periscope/ or contact the QualRisk Cyber Center at dataproducts@qualriskcyber.com.