At nearly 12% of commercial lines premiums, managing generalagents are an ever-growing distribution channel that bears morewatching, according to a new study and survey findings from globalmanagement investment firm Conning. Part of the proof: MGA-sourcedpremium exceeded $33 billion in 2014, an increase from the nearly$26 billion for 2012.
In fact, the study, “ManagingGeneral Agents: Superior Growth in Specialty Markets,” saysthat MGA growth has outpaced that of the commercial lines sector in2014, despite softening rates in several lines.
Several factors mitigate rate-induced weakening of premiumgrowth, including a continued shift by insurers towardspecialization and their demand for alternative distributionsources to access the customer, says Bill Broomall, assistant vicepresident, Insurance Research.
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