The Underwriting Agencies Council (UAC) has signed a reciprocal membership agreement with the American Association of Managing General Agents (AAMGA).

The deal will see each association become a member of the other with AAMGA becoming an affiliate member of UAC.

William Legge, general manager of UAC, praised the deal as an important step for the industry in Australia and New Zealand.

“UAC and AAMGA share common challenges and countless mutual opportunities as the insurance landscape continues to evolve rapidly,” Legge said.

“AAMGA’s longevity and reputation in the industry makes the association an attractive professional partner as we navigate the increasingly global insurance market.”

Bernd G. Heinze, executive director of AAMGA, welcomed UAC to membership within the AAMGA and praised the work of the council in the Australia and New Zealand market.

“We’re delighted to welcome UAC to our membership,” Heinze said.

“The UAC has been an invaluable resource for underwriters in the Australian and New Zealand insurance market, offering education programs, resources and networking opportunities that mirror AAMGA’s strategic goals and objectives in the wholesale and specialty insurance market.

Describing the market as ‘vibrant and dynamic’, Heinze said: “The insights and perspective of our UAC colleagues are welcome additions to our efforts to respond locally to our various markets, while acting globally for our entire industry.”

UAC representatives are expected to make the trip to Scottsdale, Arizona for the AAMGA annual meeting in May 2016.

The AAMGA was founded in 1926 and has more than 500 corporate members in North America and Europe focusing on advancing networking, education and advocacy on behalf of MGAs.