Conning: U.S. MGA market grows swiftly, exceeds $85 billion in premium in 2022
HARTFORD, Conn., Aug. 2, 2023 /PRNewswire/ -- Premiums sourced by Managing General Agents (MGAs), a key distribution channel for U.S. property-casualty (P&C) insurers, grew significantly in 2022, according to a new Conning study. At 24%, growth was well beyond the robust growth achieved in the P&C market as a whole. Conning estimates that the total U.S. MGA market, including business written for the account of Lloyd's syndicates, exceeded $85 billion in direct premiums written in 2022.