International specialist insurer Tokio Marine Kiln (TMK) will become the principal sponsor of the Managing General Agents’ Association (MGAA), affirming its commitment and support for the delegated underwriting network in the UK.
The size of the actual investment remains unclear, but the partnership will see TMK become the principal sponsor of the MGAA, supporting its broad calendar of industry events. The investment will also see TMK hold a seat on the Association’s Legal, Regulatory and Compliance Committee, and also its Membership and Benefits Committee sub-group.
Chairman of the MGAA, Charles Manchester, said; “We’re delighted to be working in partnership with TMK to tackle the challenges facing our members today. Managing General Agents are an established and fast-growing sector of the UK insurance industry, generating more than 10% of the UK’s £47 billion general insurance market premiums. With Solvency II, conduct risk and market modernisation, the impact on MGAs is significant. We are grateful for TMK’s support and look forward to shaping the future of delegated underwriting in the UK with them as our partners.”
The Association was established in 2011 as a non-profit organisation that aims to represent the needs of the expanding UK network of Managing General Agents (MGAs), and TMK has said it’s a “longstanding advocate of delegated underwriting.”
Roger Bickmore, Strategic Development Director, TMK, commented; “MGAs provide a fantastic service to our customers in the UK and internationally and are a critical channel for TMK. Our partnership will enable us to improve communication, embed new frameworks, and share insights and best practice, to ensure MGAA members remain leaders in the provision of insurance to our customers today and beyond.”
