The Managing General Agents' Association (MGAA), the representative body for managing general agents in the UK and Ireland, has appointed Padda Consulting as its new UK compliance and regulatory partner.
The partnership will officially commence on September 1, 2026. Padda Consulting was selected following a competitive process, with its proposal judged to align closely with the MGAA's strategic objectives. The partnership combines regulatory expertise with practical support designed to meet the changing needs of MGAs, and will cover broad regulatory issues, dedicated compliance advice and additional member support services.
The appointment succeeds the MGAA's previous compliance arrangement with Implement Compliance Solutions & Resources Limited (ICSR), which had held the role since September 2024 and was subsequently rebranded as Artex UK Advisory following ICSR's acquisition that year.
The appointment is intended to give members practical regulatory support as the compliance landscape continues to evolve. Working alongside the MGAA and its established relationship with the Financial Conduct Authority (FCA), Padda Consulting will help ensure members remain informed and positioned to navigate regulatory change.
The appointment comes as the UK's MGA sector continues to expand rapidly. The MGAA has grown from 40 members writing £1.2 billion in gross written premium at its launch in 2011 to more than 249 MGA members today, collectively representing approximately £18 billion in gross written premium, according to the association's most recently published figures.
At Lloyd's, delegated authority business, the model underpinning most MGA activity, now accounts for just under 40% of all business written and is forecast to exceed 45% by 2027, growing faster than open-market placements, particularly in property binder portfolios.
That growth has drawn closer regulatory attention. AM Best revised its outlook for the global delegated underwriting authority enterprise segment from positive to stable in November 2025, citing tighter renewal economics and increased scrutiny of delegated partners even as premium volumes keep climbing.
In the UK, the FCA's Regulatory Priorities for Insurance 2026 report, published in February, extends oversight to delegated authority models, remuneration arrangements and the use of artificial intelligence in underwriting and claims, with a separate FCA review of MGA and coverholder governance expected to report findings in early 2027. Its Policy Statement PS26/6 is also phasing in Senior Managers and Certification Regime reforms through the second half of the year, with conduct-related changes landing on 1 September - the same date Padda's partnership with the MGAA begins.
Mike Keating, chief executive of the MGAA, welcomed the new arrangement. "I'm pleased to announce this partnership with Suneeta and the Padda team," Keating said. "Together with our excellent relationship with the FCA, Padda and the MGAA will ensure that through consistent reviews, collaborative engagement and ongoing monitoring of the MGA regulatory environment, our members' interests remain a key priority."
Founded more than 14 years ago, Padda Consulting has built a reputation for providing practical, commercially focused compliance and governance support to insurers, MGAs, brokers and Lloyd's market participants. Its team draws on experience from both regulatory bodies and senior in-house insurance compliance roles.
Suneeta Padda, founding director of Padda Consulting, said the appointment carried particular significance given the firm's long association with the MGAA. "We are absolutely delighted to be appointed as the MGAA's UK Compliance Partner," Padda said. "Padda Consulting has worked across the insurance market for over 14 years, and we have been involved with the MGAA since its early days, so this really does mean a lot to us. MGAs are such an important and entrepreneurial part of the market. We are looking forward to supporting members with clear, practical, and commercial compliance advice that helps make regulation feel manageable."
