Q&A: Mike Keating on the importance of MGA collaboration and committed capacity partners

What is the importance of the MGA sector collaborating to ensure the market continues to grow?

“The MGA sector has always been built on collaboration. Our success comes from bringing together entrepreneurial underwriting expertise, insurer capital, brokers, technology providers and service partners to create specialist solutions that the wider market often cannot. As our sector continues to grow, that collaborative approach becomes even more important.

“We all face common challenges – from regulation and technology to talent and emerging risks – and none of these can be addressed in isolation. I am proud of the ecosystem we are creating in which participants work together, share knowledge and remain focused on delivering better outcomes for customers. Collaboration isn’t simply good for individual businesses, it strengthens the reputation, resilience and long-term sustainability of the entire delegated authority market.”

How can MGAs and capacity providers work more effectively together to ensure longer-term, productive relationships?

“The strongest partnerships are those built on trust, transparency and aligned objectives. Capacity providers increasingly want more than underwriting performance alone – they want confidence in governance, data quality, operational excellence and long-term strategic thinking.

Equally, MGAs need committed partners who understand specialist markets and are prepared to invest through market cycles rather than focus solely on short-term returns. Open dialogue, shared data, regular performance reviews and a willingness to innovate together create relationships that deliver value for both parties. When capacity providers and MGAs genuinely operate as partners rather than counterparties, everyone benefits, particularly I would argue, the end customer.”

What do you think is the most important thing for new MGAs to focus on to take more share of wallet in the insurance market?

“The opportunity for new MGAs has never been greater, but success starts with having a clear proposition. Businesses need to demonstrate genuine underwriting expertise, identify a defined market need and deliver something that is differentiated rather than simply competing on price.

Alongside that, strong governance, quality data, technology and operational discipline are absolutely fundamental expectations. Growth should never come at the expense of underwriting integrity. So it’s three important things working together – the combination of specialist expertise with exceptional service, innovation and robust management – that will continue to attract capacity, win broker confidence and build sustainable businesses for the future.”

What is your message to insurers on the advantages of delegated distribution strategies via MGAs?

“MGAs represent one of the most effective ways for insurers to access specialist expertise, enter new markets and respond quickly to changing customer needs. They offer agility, deep technical knowledge and the entrepreneurial mindset needed to identify opportunities that traditional distribution models can sometimes struggle to reach.

“The delegated model allows insurers to deploy capital efficiently while benefiting from focused underwriting expertise and closer relationships with brokers and customers. This was brought into sharp focus during the MGAA Annual Conference: As risks become more complex and markets evolve more rapidly, the ability to partner with high quality MGAs will become an increasingly important strategic advantage. The delegated model is a fundamental driver of innovation and growth across the insurance market.”

How important are physical events like the MGAA Conference to continue developing and supporting the MGA market?

“Nothing replaces bringing people together. While technology has transformed the way we communicate, our industry remains fundamentally relationship-driven. The MGAA Conference provides an invaluable opportunity for members, capacity providers, brokers, regulators and service partners to exchange ideas, challenge thinking and build the partnerships that underpin our market. It is where conversations begin, collaborations are formed and innovation is accelerated.

”Just as importantly, it provides a platform for sharing knowledge, celebrating success and investing in the next generation of talent. If we are serious about continuing the growth and professionalism of the MGA sector, creating opportunities for our community to connect in person remains essential.”