The conversations at the MGAA’s Republic of Ireland Presentation Day on October 7 left me encouraged about the future of the Irish MGA market. We discussed some difficult trading conditions, but we also saw clear opportunities for specialist underwriting businesses that can demonstrate their value to brokers, customers and capacity providers. The task now is to turn that confidence into sustainable growth.
Many of these pressures will be familiar to MGAs across the UK. Competitive market conditions are squeezing margins, while insurers are expanding their appetite, albeit temporarily, into areas that have traditionally been the territory of specialist MGAs. The growth of broker facilities and consolidation schemes adds to the competition. At the same time, businesses must balance immediate trading demands with investment in technology and digital products.
Our event brought those commercial pressures together with discussions about regulation, capacity and emerging digital threats. My strongest takeaway was how closely these issues connect. An MGA’s prospects depend on the quality of its underwriting, the reliability of its operations and its ability to explain both to its partners.
That starts with a clear understanding of where the business adds value. When insurers compete more directly in specialist areas, MGAs need to show what their expertise delivers. For a broker, that might mean access to cover for a difficult risk, a quicker underwriting decision or a product that better reflects the customer’s needs. Maintaining that distinction becomes more important as price competition intensifies.
Data is central to that relationship. Inconsistent demands from carriers can create an administrative burden, particularly when an MGA works with several capacity partners. Better alignment on reporting requirements would help businesses spend more time using information to improve underwriting and service. MGAs, in turn, need to provide partners with a credible view of performance and how their portfolios are developing.
There are good reasons for optimism about capacity. We continue to see strong interest from capital and reinsurance markets, including reinsurance participation through fronting carriers. Longer-term capacity agreements and MGA consortium portfolio structures also offer opportunities to build relationships that support investment and product development. Mark McCormick, Chief Underwriting Officer, Europe, at Bridgehaven Insurance, brought an important capacity perspective to the afternoon’s discussions.
For Irish MGAs, the opportunity is to match specialist propositions with partners whose appetite and expectations fit the business, and where they can bring targeted value, insight and local relationships to expand underwriting on behalf of insurers. Capital availability alone cannot guarantee a successful partnership. Clear responsibilities, realistic growth assumptions and a shared understanding of underwriting performance provide a stronger basis for a lasting relationship.
New businesses are continuing to enter the sector. Across the MGAA, incubator membership is up 50% on 2025. That is an association-wide measure, but it is an encouraging sign of continued entrepreneurial interest in the MGA model. Alongside the appetite from capital providers, it gives us confidence that the sector can continue to develop despite current trading pressures.
Technology can help that development. Businesses with cleaner technology stacks may find it easier to adopt AI tools, reduce repetitive work and bring digital products to brokers more quickly. Better connections with broker platforms can also make specialist cover easier to access. The pace of adoption will depend on each firm’s resources and the quality of its data, and investment needs to deliver a measurable improvement in how the business operates.
Brendan Little, Head of Sales & Marketing at ARAG Legal Protection Limited, added another dimension through his session on digital threats. As customers face harm online, there is scope for specialist insurance and support services to respond to evolving needs. That discussion also reinforced the importance of considering the risks that accompany greater digital dependence.
Jerome Sebart, Director at Sicsic Advisory Ireland, provided the regulatory update. With Ireland’s revised Consumer Protection Code in effect since March, customer interests must inform business decisions as well as day-to-day service. My takeaway for MGAs is that growth and good customer outcomes need to develop together. Firms should be able to demonstrate how their approach to complaints, remuneration and operational resilience supports the customers they serve.
Discussions at the event also highlighted the fact that M&A remains challenging, with mismatched valuation expectations making transactions harder to agree. Businesses cannot assume that a sale or acquisition will provide their next stage of growth. Investing in underwriting performance and operational capability strengthens the business in the meantime and provides a firmer basis for future strategic choices.
The MGAA has a clear role in helping the Irish market pursue these opportunities. We will work with our Market Practitioner members to promote capacity opportunities in the Republic of Ireland and double down on our efforts to share knowledge and insight across the market. Ireland’s MGAs have strong momentum to build on.
