Insurer steps up MGA activity
RSA has signed up to become a member of the Managing General Agents’ Association (MGAA).
The insurer signed a £75m deal with Gallagher UK underwriting agency OIM in May as it starts to ramp up its MGA activities.
The MGAA now includes 50 members with a combined £1.4bn in GWP per year.
MGAA chairman Reg Brown said: “This is a significant development for the Association. The support of one of the UK’s largest insurers endorses the important role MGAs play in the industry.
“This important milestone combined with the growing number of MGAs joining the Association marks the start of a new phase in our work, and demonstrates the MGAA is a representative body for MGAs across all markets.”
RSA’s director of MGAs Tom Downey said: “We have a desire to work with profitable and well-managed MGAs and believe they have a valid part to play within the industry. Our MGAA membership is therefore a natural next-step and a testament to our commitment to the MGA market.
“We look forward to working with the Association and its members to continue to raise the profile of MGAs as an important part of the UK insurance industry.”
The MGAA launched in September 2011, and has 50 full members, 19 insurer members and 21 supplier members.
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