Analysis

Briefing: Soft market supports succession of MGAs and protects against ‘day of reckoning’

By 2026-01-29T09:00:00

rise, springboard

Market commentators predict that MGAs fare better in the current soft market cycle versus their insurer peers – but does this success have an end date or is ‘the rise of MGAs’ unstoppable?

According to 2024 figures published by trade body the Managing General Agents’ Association (MGAA), there are over 300 UK-based MGAs in operation in the general insurance industry. These firms underwrite roughly 10% of the £47bn total premiums collected by this marketplace.

These numbers are certainly not insignificant – but some sector commentators believe that cyclical market conditions may have given MGAs a competitive leg up and helped protect these businesses from a predicted “day of reckoning”.

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