In a new article, Simon McGinn, DUAL UK CEO, reveals why he thinks capacity providers are turning to MGAs. Marsh reports that global insurance rates have declined for another quarter and that they expect this trend to continue. Aon have evaluated global natural disasters costs for insurers in Q1 2025 with 4 out of the 5 costliest economic loss events taking place in the US.
DUAL UK CEO Simon McGinn shares insights into the MGA world (Source: Insurance Business Magazine)
The executive shares his perspective on why increasingly dynamic and diverse risk conditions make MGA solutions invaluable.
Global commercial insurance rates fell 3% in Q1’25: Marsh (Source: Reinsurance News)
This is the “third consecutive quarterly decrease after seven years of rising rates” according to Marsh’s Global Insurance Market Index.
Global natural disasters cost insurers $53B in Q1, with economic losses of $83B (Source: Insurance Journal)
Economic losses are “well above the 21st-century Q1 average of $61 billion” with insured losses resulting primarily from the California wildfires, reveals Aon’s Global Catastrophe Recap.
Over one-third of London market firms now actively using AI (Source: LMA)
Just under half of the respondents to the LMA’s survey cited data quality and availability issues as barriers to the adoption of AI.
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