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ARTICLE · 22 JUNE 2020

Guernsey Simplifies Application Process For Managing General Agents

Guernsey's insurance industry has worked with the Guernsey Financial Services Commission (GFSC) to make the island an attractive location for Managing General Agents (MGAs).

GuernseyFinance and Banking

Guernsey's insurance industry has worked with the Guernsey Financial Services Commission (GFSC) to make the island an attractive location for Managing General Agents (MGAs).

Guernsey Finance has developed a close working relationship with the UK's MGA Association over the past 18 months and, together with industry group the Guernsey International Insurance Association (GIIA), an industry working group, identified the need to clarify licence provisions and permissions for new entrants to the market in the island.

"MGAs are a natural fit for Guernsey as our significant international insurance offering already has everything they 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."

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