Steven Kaye // June 6, 2023
Managing general agents, or MGAs, are not just run-of-the-mill insurance agents—they are a type of retail or wholesale insurance distributor. Affiliated MGAs enable greater insurer agility by allowing them to place business with other insurers. MGAs can also allow insurers to take advantage of niche market expertise to expand their distribution and grow their business without building the necessary infrastructure internally.
And the benefits of MGAs have not gone unnoticed by insurance carriers: MGA business (measured in premiums) is growing faster than the overall property/casualty industry. While they’re not a