All eyes have been on the Vatican City this week as the Catholic Church chose its next Pope. Meanwhile, albeit without the white smoke, another leader has been appointed, with Lloyd’s of London revealing its new CEO. According to a recent Gallagher Re report the MGA market now represents nearly 10% of the P&C sector, with premiums nearing $100 billion in 2024. The growing role of MGAs in the insurance market has prompted BIBA to publish new guidance for its members.
Patrick Tiernan named Lloyd’s CEO (Source: Reinsurance News)
Lloyd’s current Chief of Markets has taken the top job following John Neal’s announced departure.
BIBA releases new MGA guide for members (Source: Insurance Business Magazine)
In recognition of the “growing role of MGAs in the insurance market” BIBA has published new guidance to help its members navigate the use of MGAs.
A mature MGA market, rising premiums, shifting risks (Source: Gallagher Re)
A new report from Gallagher Re reviews growth trends across MGA and hybrid fronting carriers, reinsurance structures and therole of MGAs in attracting underwriting talent.
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