MGAs continue to be a driving force behind the UKGI market, excelling when it comes to broker service levels and offering specialist products.
But how are MGAs faring when it comes to financial performance?
Our upcoming MGA Performance Report 2024 – set to be published at the MGAA Conference on 10 July – looks to answer this question by analysing the financial results of 41 MGAs across three key metrics: profitability, growth and productivity.
This report will reveal that overall performance has fallen slightly to an average of 52.7%, down 0.8 percentage points on last year’s 53.5% rating. But this is still higher than both 2022 and 2021 when the average rating stood at 51.0% and 50.0%, respectively.
Despite this slight drop in performance, the market remains resilient with the average Productivity Rating increasing by 0.6 percentage points to 55.4% – the highest level since 2021.
And this is encouraging news for MGAs, with productivity a key factor in being able to achieve long-term sustainable success.
In our upcoming webinar, How MGAs can Succeed in a Volatile World, we will be exploring the challenges and opportunities that will pave the way for this success and discuss how MGAs can navigate current market conditions.
The webinar takes place on 16 July at 11am, and we will be joined by the MGAA’s Mike Keating and BSpoke Group CEO Tim Smyth. Everyone who registers will be sent a free digital copy of the report via our monthly newsletter.
Free copies of the report, which will also delve into the performance of MGAs by revenue band and reveal the 2024 class of MGA Gold Award winners, will be available from the MGAA Stand at the MGAA Conference on 10 July.
