The Managing General Agents’ Association and the Association of British Insurers have signed a Memorandum of Understanding establishing a framework for collaboration across a number of mutually beneficial industry initiatives.

These include information exchange, the coordination of views and approaches on key issues driven by governmental and regulatory bodies, and collaborative learning and networking opportunities.

Commenting on the new partnership, Michael Keating (pictured), CEO of the MGAA, said: “We are delighted to announce our partnership with the ABI as the agreement further solidifies our working relationship and helps foster coordination on issues that impact our members and the insurance markets. With our members having extensive partnerships with ABI members, together, we aim to create greater awareness of core priorities and knowledge sharing for insurance firms and their customers.

"Working together puts us in a key position to support the significant growth we are seeing in the MGA sector with tech-driven start-up MGAs, whilst also tackling ongoing obstacles for our members such as capacity constraints, regulation and a challenging rating environment.”

Hannah Gurga, director-general of the ABI, added: “Signing the MoU with the MGAA is another step towards fostering closer collaboration and a stronger working relationship on key issues for the benefit of both our members. We’re looking forward to working with the MGAA and its members more closely to further promote mutual understanding, share knowledge and align on views for the benefit of the wider industry.”

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