We talk to Anthony Egerton, Principal Officer at Nexus
Structured Solutions Limited (fka Huntington Underwriting Limited
– a Labuan IBFC based global MGA), to understand more about
MGAs and their role in the Asian insurance market
In insurance, a managing general agent (MGA) is not a new
concept, but it is relatively uncommon in Asia outside the
developed markets of Hong Kong and Australia. Many of us may not
have the full grasp of the concept while some think it does not
rightly fit into the 'distribution channel'.
The MGA structure developed significantly during the 1990s and
2000s, but the role "agent" dates back to the 19th
century. In some countries, MGAs are referred to as underwriting
agencies and in the United Kingdom, the term MGA was once known as
'Coverholder', where the capacity provider was Lloyd's.
In fact, this term is still being used in Australia, which has
Australasia's largest concentration of MGAs.
