Our inaugural MGA Performance Report has named MPR Underwriting as the best MGA in UKGI with an MGA Rating of 76%.
Q Underwriting, Volante International, Ryan Specialty International, and Policyfast have also been recognised as top performers, with all five firms picking up an Insurance DataLab MGA Gold Award for 2022.
Based on our own proprietary formula, devised specifically for this research (you can download a free digital version here), the report rated more than 50 of the largest MGAs in UKGI across three key metrics – profitability, growth and productivity.
The research found that overall performance has remained relatively steady over the last three years, with the market average MGA Rating standing at 49.5% for 2022. This is in line with the average rating for 2021, but some 2.8 percentage points lower than the 52.3% average rating for 2020.
MPR outperformed the market average by a highly impressive 26 percentage points, driven by a particularly strong performance on growth after it picked up a score of 80% – the second-highest in this analysis behind Somerset Bridge with a score of 95%.
This score came after MPR reported revenue growth of 86% in its most recent financial results to £2.7m, making it the smallest MGA by revenue to pick up a Gold Award and the only award winner with revenues of less than £5m.
The MGA’s Growth Rating was also boosted by a near tripling of its operating profits to £1.6m.
