Global insurer RSA has become a member of the Managing General Agents’ Association (MGAA).
Launched in September 2011, the association now has 50 members with a combined annual underwrite total of £1.4 billion in gross written premiums.
Commenting on the news, RSA’s director of MGAs Tom Downey said: “We have a desire to work with profitable and well managed MGAs and believe they have a valid part to play within the industry. Our MGAA membership is a testament to our commitment to the MGA market.”
MGAA chairman Reg Brown said: “The support of the RSA is very important to us as it shows we are getting our message across and I hope it will encourage others to join. With their help we can make real progress.”
Brown said that it is important for all insurers who delegate some of their underwriting to third parties to examine the MGAA plans. These include the improvement of standards and professionalism, to introduce codes of conduct, to look at behaviour and ethics, and to clearly define the role and responsibility of the delegated underwriter.
“Success in our endeavours can only be to the benefit of all concerned. The support of RSA and Aviva is very important to us as it shows that we are getting our message across and I hope it will encourage others to join and with their help we can make real progress,” he said.
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