Managing growth through MGAs

MGAs (Managing General Agents) are Insurance Agents who are given wider underwriting authority on behalf of Insurers.  Typically they would set rates, control underwriting selection on a daily basis, and handle the majority of the claims on behalf of their Insurer.

MGAs benefit clients by adding convenience and quick turnaround in getting coverage. Because we are offering the insurance company underwriters a higher volume of business, the terms and rates can be more competitive and we can pass on these savings from having a lighter administrative burden.

MAI has been active for several years setting up MGAs for its own MAI offices, as well as helping non-aligned Brokers to create their own MGAs.

From cars to cargo

MAI CEE currently operates several MGAs that are enjoying strong commercial success, including ‘Marine Insurance Express’ (MIE)  for online purchasing of worldwide cargo insurance and ‘MAI Casco’ providing motor insurance in Hungary.

MAI RE  (MAI CEE’s reinsurance office) has also set up new MGAs for Broker clients in Italy, Latvia and Estonia and is actively working on developing new MGA accounts.