The Managing General Agents’ Association has expanded its membership criteria to allow eligible MGAs, insurers and suppliers based outside the UK and Ireland to join, opening its network to organisations seeking to develop business in the two markets.

The change follows consultation with existing members and responds to enquiries from European and US insurance businesses seeking closer links with the UK and Irish MGA sectors.

Under the revised criteria, organisations based overseas can apply for membership if they have a genuine interest in the UK or Irish insurance markets. This could include established MGAs, insurers, suppliers and market practitioners looking to develop distribution, capacity or commercial relationships, as well as businesses considering establishing or acquiring an MGA in either market.

The expansion gives eligible organisations access to the MGAA’s network, market insight, events and other membership benefits, while creating further opportunities for existing members to build relationships with international businesses.

The association represents more than 500 organisations across its MGA, market practitioner and supplier membership. Its MGA members collectively underwrite more than £18.5bn in gross written premium. Mike Keating, CEO of the MGAA, said: “The MGA market is increasingly international, and we regularly hear from organisations outside the UK and Ireland that want to engage with our community. Expanding our membership criteria reflects that change and creates new opportunities for our members to build relationships and connect with the wider European and international MGA market.”

The move follows the MGAA’s earlier decision to extend membership to organisations domiciled in the Republic of Ireland after Brexit. The MGAA’s regulatory and compliance support will remain focused on the UK and Ireland and it will not provide territory-specific regulatory or compliance support for other jurisdictions.

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