Managing general agents have been popular in the market recently, but what’s been driving this popularity? Intelligent Insurer speaks to a number of newly formed ventures to find out.
It’s been a busy year so far for the managing general agent (MGA) market, as more and more MGAs are created and launched into the industry, while others are targets for acquisition.
April was exceptionally busy on this front, with Pro Global Insurance Solutions acquiring Vibe MGA Management, the MGA incubator business of Vibe UK, which owns Lloyd’s managing agent Vibe Syndicate Management; Nexus Group (Nexus) acquiring Capital Risks MGA; and Tokio Marine HCC’s crop insurance unit Producers Ag Insurance Group agreeing to acquire the Kansas-based crop insurance MGA AmTrust Agriculture Insurance Services.
Why are MGAs such an attractive proposition at the moment, for both backers and the entrepreneurs running them?
MGA, Intelligent Insurer, Merger & Acquisition, Keith Syrett, Craig Curtiss, IGI, MGA Thames Underwriting, London Market, UK, Global