Our latest research has crowned NBS Underwriting as the best MGA in UKGI after an analysis of the financial performance of the country’s leading MGAs in our MGA Performance Report 2025, published in association with the MGAA.
The MGA receives a Performance Rating of 76.7% after a year of exceptional growth, earning its first Gold Award and outpacing its nearest competitor by 7.7 percentage points.
NBS Underwriting impressed across all three pillars of the Insurance DataLab ratings – profitability, growth, and productivity – following a 90% increase in revenues and a near tripling of operating profit. These results were buoyed by the acquisition of The Underwriting Specialist and the launch of several new specialist schemes.
In total, six MGAs received a 2025 Insurance DataLab Gold Award for outstanding performance. Joining NBS Underwriting on this year’s list are Provego (69.0%), Ambridge Europe (67.8%), Volante International (67.7%), Aqueous Management (66.8%) and MPR Underwriting (66.0%).
These firms have delivered standout results across profitability, growth, and productivity, setting a high bar for the rest of the MGA market.
Market Holds Steady Amid Changing Fortunes
Meanwhile, the market as a whole demonstrated its resilience amidst challenging conditions, with an average MGA Rating of 53.4% – unchanged from the previous year, but up from 52.5% in 2023 as it continued at record levels.
While profitability and growth continue to face downward pressures, this has been offset by improvements in productivity, which has reached record highs this year.
In his guest column for the report, MGAA chief executive Mike Keating says he was pleased to see this continued improvement in productivity, and praised the growing importance of MGAs in the market.
“MGAs now form part of all brokers’ placement strategy,” he says. “And with their continued agility, forensic understanding of their distributor needs, product innovation and unrivalled service, they are well-placed to continue to deliver for their capital and end customers.”
Meet the Best MGAs in the Market
- NBS Underwriting – 76.7%
- Provego – 69.0%
- Ambridge Europe – 67.8%
- Volante International – 67.7%
- Aqueous Management – 66.8%
- MPR Underwriting – 66.0%
Further insights, including a breakdown of performance by revenue band, are available in the 2025 edition of the Insurance DataLab MGA Performance Report, which can be downloaded for free here.
Print editions are also available for free from the Insurance DataLab stand (68) at this week’s MGAA Conference. And, a full breakdown of scores for every firm included in this research is available on our award-winning market intelligence platform.
We also offer tailored benchmarking reports to compare the performance of individual companies across all three pillars of our Ratings.
If you would like to see a demo of our platform, are interested in finding out more about our benchmarking reports, or are one of this year’s Gold Award winners and would like to use our endorsement, please contact Tariq Kench.