MGAA Expands Eligibility Offer

The latest from the fast-growing MGAA for you;

The Managing General Agents’ Association (MGAA) has expanded its membership offering to enable eligible MGAs, insurers and suppliers domiciled outside the UK and Ireland to join the Association, strengthening connectivity between the UK, Irish and wider international MGA markets.

The expansion follows consultation with MGAA members and reflects growing interest from European and US insurance businesses seeking greater access to the UK and Irish MGA market, as well as the increasingly international nature of the delegated underwriting sector.

The MGAA now represents more than 500 organisations across its MGA, Market Practitioner and Supplier membership, with its MGA members collectively underwriting more than £18.5bn in gross written premium.

Under the expanded criteria, the MGAA will be able to consider membership applications from organisations based outside the UK and Ireland that have a genuine interest in these insurance markets.

This could include established MGAs, insurers, suppliers and market practitioners looking to develop distribution, capacity or commercial relationships in the UK and Ireland, as well as businesses considering establishing or acquiring an MGA or entering these markets.

The move will give eligible firms access to the MGAA’s established community, market insight, events, networking and wider membership benefits, while creating additional opportunities for existing members to develop relationships with organisations operating across Europe.

Mike Keating, CEO of the MGAA, said: “The MGA market is increasingly international, and we regularly hear from organisations outside the UK and Ireland that want to engage with our community. Expanding our membership criteria reflects that change and creates new opportunities for our members to build relationships and connect with the wider European and international  MGA market.”

The expansion builds on the MGAA’s previous decision to extend membership to organisations domiciled in the Republic of Ireland following Brexit, reflecting the increasing level of cross-border activity between the UK and Irish MGA markets.

While membership eligibility is being widened, the MGAA’s regulatory and compliance support will remain focused on the UK and Ireland. The Association will not provide territory-specific regulatory or compliance support for other jurisdictions.