MGA and Program Sector Shows Continued Growth
The managing general agent (MGA) and program market is continuing to grow and is a key business model for property/casualty business, according to a study by global investment management firm Conning.
“The MGA market has nearly doubled since 2012 when Conning began tracking this sector,” said Jerry Theodorou, a Vice President of Insurance Research at Conning. “The MGA market continued expanding in 2018 and early 2019, driven by numerous factors including MGA startups, insurers’ quest for blocks of business, and investment from private equity and MGA incubator firms.”
The study looks at the dynamics, trends, players, and outlook of the MGA marketplace. Conning’s database includes current and historical information on more than 600 MGAs and 275 insurer groups that utilize MGAs.