Gibraltar Finance attended and sponsored the annual insurance conference of the Managing General Agents Association (MGAA) in the City of London on Wednesday 29 June 2022.
Gibraltar Finance was represented by Senior Executive, Michael Ashton, who was joined by a number of insurance professionals from Gibraltar. The conference was very well attended with over 850 delegates and the Gibraltar Finance Stand was busy all day.
Albert Isola MP, Minister for Digital and Financial Services stated “The growth in the UK MGA sector over the last 10 years has been substantial with MGAs securing a growing share of premium and partnering with a larger number of insurers. This trajectory is likely to continue.
MGAs have become increasing important to the insurance distribution chain because the sector has shown strong innovation in terms of product development, the adoption of new technologies and the introduction of new business models. The MGA structure continues to be the preferred model for insurtechs. We are looking at a number of ways to enhance Gibraltar’s appeal for new MGAs.”
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 180 MGA members. Collectively these MGAs write in excess of £6.5 billion gross written premium per annum.