Best performing MGA in UK revealed

NBS Underwriting has been named the best-performing MGA in the UK by market intelligence firm Insurance DataLab.

The business earned an overall performance rating of 76.7%, securing its first Insurance DataLab gold award after a year that saw revenues grow by 90% and operating profit almost triple.

The MGA is one of six firms to receive an Insurance DataLab gold award for financial performance. Others include Provego (69%), Ambridge Europe (67.8%), Volante International (67.7%), Aqueous Management (66.8%) and MPR Underwriting (66%).

Insurance DataLab co-founder Matt Scott said: “It’s particularly encouraging to see medium-sized MGAs hitting their stride and outperforming their larger and smaller peers.

“And we’re delighted to celebrate the success of this year’s gold award winners – from high-growth operators to consistently profitable performers, each has carved out a winning formula in an increasingly competitive market.”

MGA market

However, while several MGAs posted strong individual results, the average MGA rating for 2025 remained flat at 53.4%, with productivity reaching record levels but profitability and growth both edging down.

The growth data has, however, been skewed by several significant outliers, and at an aggregate level growth has improved.

Indeed, the aggregate revenues for this year’s cohort of MGAs broke through the £1bn barrier after reporting growth of 17.1%, up from growth of just 10% a year earlier.

Insurance DataLab analysed the financial performance of MGAs across three key pillars – profitability, growth and productivity.

Scott said: “MGAs have once again proven their adaptability and resilience, navigating a complex market with tight margins and rising capacity pressures.

“The standout story this year is productivity – MGAs are finding smarter ways to work and becoming leaner and more efficient in the process.”