Against the backdrop of a still very entrepreneurial London Market, there has never been a better time to launch a managing general agent (MGA). Mark Birrell from MGA formation platform Castel outlines how to go from business concept to fully-fledged MGA.
Is the London Market as entrepreneurial now as it has been in the past?
I entered the London Market some 35 years ago, and would say that the entrepreneurial spirit that exists in today’s market is as strong as it was back then. London has always thrived on the ability of talented, driven underwriters to spot opportunities and who have the motivation to capitalise on them. I do think, however, it is tougher today for that entrepreneurial spirit to become a market reality, particularly given increased regulatory and compliance demands.
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Mark Birrell, MGA, Castel, London Market, Altitude Risk Partners, David Godley, Global Aerospace, Richard Power, Catlin, Tim Wright, Global Aerospace