Gibraltar Finance attended the Annual Insurance Conference of the Managing General Agents Association (MGAA) in the City of London on Wednesday 15 September 2021. Gibraltar Finance was represented by Senior Executive, Michael Ashton, who was joined by a number of insurance professionals from Gibraltar.
The conference was attended by close to 750 delegates being the first physical insurance event that nearly all the delegates had attended in over 18 months. As a result there was significant interest in Gibraltar with a constant stream of visitors to the Gibraltar Finance Stand.
Albert Isola MP, Minister for Digital and Financial Services stated “In June 2021 when I met Michael Keating the CEO of the MGAA I was enormously encouraged by the potential for Gibraltar to strengthen its relationship with the MGAA. Gibraltar is seeing significant interest from insurtech businesses and as many of these technology firms use a Managing General Agent (MGA) structure to begin underwriting we expect to see an increase in new applications”.
The MGAA was founded in 2011 by a group of individuals who saw the need for an association to represent MGAs; lobbying on their behalf, communicating their considerable benefits and maintaining high standards within the industry.
Today the MGAA has evolved into a trade association for MGAs in the UK and Ireland with over 150 MGA members. Collectively these MGAs write in excess of £6 billion gross written premium per annum and in addition to MGAs has around 20 insurance company members. The MGAA is keen to attract new members from Gibraltar and has changed its membership criteria to permit applications from Gibraltar.