Managing General Agents

INTRODUCTION

Exploring the MGA landscape

Managing General Agents (MGAs) have become one of the insurance industry's most dynamic growth stories, with the global market now estimated at approximately USD 150 billion of premium. Yet they remain surprisingly difficult to define – the MGA structure is usually not recognised by law, so in different jurisdictions they have to operate within a wide range of broader intermediary and delegated authority frameworks. A structure that is straightforward in one country can require a very different licensing, governance or contractual approach in another.

That complexity is why we created this guide. It covers 26 jurisdictions across the same core topics: licensing, passporting, ownership and control, insurtech, product governance, premium handling and capital requirements – alongside three thematic articles on M&A, artificial intelligence (AI), and the regulatory landscape.

The MGA: A uniquely successful model Addressing the distinctive position of MGAs in the insurance industry M&A for MGAs: A market approaching boiling point Providing insight into the position of MGAs in the M&A market Artificial Intelligence: Bridging the oversight gap between carriers and MGAs Approaching AI as an MGA Regulation of MGAs: Common themes across a diverse global landscape Exploring the regulatory complexities and commercial advantages of MGAs Key global insights across borders Explore overarching key topics for MGAs all across 26 jurisdictions Global MGA navigator Leverage our comparative tool to navigate jurisdictional regulatory differences and gain instant insights into key local requirements worldwide.

PART 1

The MGA: A uniquely successful model

Managing General Agents occupy a distinctive position in the global insurance distribution chain, acting with delegated underwriting authority on behalf of insurers. Despite the economic significance of the MGA model, no uniform international regulatory framework governs their activities. Instead, MGAs must navigate a patchwork of national and regional regimes, each with its own classification taxonomy, licensing requirements, capital thresholds, and conduct-of-business obligations. But before digging into these details across the varied MGA landscape, it’s helpful to go back to basics and address the key elements of an MGA.

Explore the model

PART 3

Key global insights across borders

This section provides a topic-by-topic overview of key issues across jurisdictions. The jurisdictions surveyed include the United Kingdom, key European Economic Area member states, the United States, selected Asia-Pacific markets, and the Dubai International Financial Centre.

Regulatory spotlight Comparison table