The managing general agent (known in Australia as an underwriting agency) and program market continues to grow and remains a key business model for the property-casualty sector, according to a new study by investment management firm Conning.
“The MGA market has nearly doubled since 2012, when Conning began tracking this sector,” said Jerry Theodorou, vice president of insurance research at Conning. “The MGA market continued to expand in 2018 and early 2019, driven by numerous factors including MGA start-ups, insurers’ quest for blocks of business, and investment from private equity and MGA-incubator firms.”
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