Reinsurance News

Guernsey targeting MGA growth

10th April 2019 - Author: Charlie Wood

Guernsey Finance, the promotional agency for the island’s finance industry, has expressed confidence in its plans to develop the managing general agents sector following a visit from the Managing General Agents’ Association (MGAA).

guernsey financeMGAA’s Managing Director Peter Staddon and its founder David Coupe spent a day on the island and met with the MGA steering group formed from Guernsey International Insurance Association (GIIA), the island’s industry body.

Both Staddon and Coupe highlighted the use of technology, insurance expertise and understanding, access to alternative capital markets, and the approach to regulation as key factors for MGA opportunities on the island.

“It was timely to welcome the MGA’s Association to Guernsey as we look to develop our already-significant international insurance offering,” said Dominic Wheatley, Chief Executive of Guernsey Finance,.

“We see MGAs as a natural fit for us as we already have everything the MGAs need.”

“Entrepreneurial underwriters with capital lined up and a market position to leverage can come to Guernsey and find a high-quality insurance environment ideally placed to help develop an MGA, combined with a welcoming community and great quality of life.”

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