MGAs have blossomed – but which will survive?
Conditions for the propagation of managing general agencies have been extremely favourable in recent years, leading to the flowering of many varieties. In this abundant environment, knowing which varieties are hardy perennials is crucial.
There are a lot of different models out there, and there is a lot of churn in the market. But our business model is based on achieving an underwriting profit, which we see as key.
In the past few years, a number of MGAs have entered the UK & Ireland casualty insurance space, with uneven results. This has created a fair amount of turbulence. This is clearly not in the best interests of insurers or insureds.
Instead, we at Corin are here for the long-term, as our A- rated backing clearly demonstrates. Since this is market with a long tail, our approach is to be able to demonstrate a concomitant long-term underwriting approach – with rigorous risk selection and bespoke rating.
After all, that’s what being a hardy perennial is all about.
So if you want to talk about hardy perennials, the Chelsea Flower Show or just insurance, get in touch.