As the MGA market continues to evolve and expand globally, Danny Maleary, CEO of Pro MGA Global Solutions, shared his perspective on the sector’s trajectory, the drivers behind its resilience, and the mindset needed for MGA success, with the Insurance Insider’s Behind the Headlines podcast.
- The MGA model is no longer a trend – it’s an established part of the insurance landscape
With nearly four decades in the insurance industry, Danny has seen the MGA model transform from a niche concept to a central pillar of insurance innovation and distribution. What began as an idea in earlier iterations of incubator businesses came to life with the founding of Pro MGA Global Solutions in 2016, launched online in 2017 with a clear vision: to create a global framework for underwriting talent and insurance entrepreneurs.
“The MGA model is not just a boom or a phase, it’s a consistent, increasing presence driven by insurers, reinsurers, investors, and distributors who are actively seeking to handle insurance differently,” Danny explains.
- A regulated mindset is key, and not everyone is cut out for it
One of the most frequent misconceptions about launching an MGA is that it’s simply a more agile version of working inside a large insurer. But, as Danny notes, being an MGA principal means being a regulated individual, and that requires a fundamental mindset shift.
“There’s a huge difference between being employed in a corporate setting and being responsible for every aspect of your own regulated entity. From governance to making sure there’s milk in the fridge, you’re accountable. It’s a steep learning curve, and not everyone is suited to it.”
- It’s all about people, and the right partnerships
While capacity is a common talking point, Danny stresses that it’s not just about securing capacity; it’s about aligning with the right capacity partner. “The biggest challenge isn’t just finding capacity, it’s finding the right partner whose vision aligns with yours. That alignment is what ultimately determines success or failure.”
Danny also emphasises that the value of MGAs lies in their entrepreneurial people, many of whom bring new energy, product innovation, and a desire to deliver one-to-one value to customers that corporates sometimes struggle to replicate.
- Growth is steady, global, and demand-led
Pro MGA Global Solutions now sees 10 to 15 MGA approaches per month, a sharp increase from the 5 to 10 seen in prior years. That growth is global, not just limited to London or the UK, and driven by individuals seeking greater autonomy and product ownership.
“What’s interesting is seeing big corporate brands now embracing the MGA model, something that would have been unthinkable a decade ago,” Danny says.
- Entrepreneurial MGAs are maturing
Gone are the days when MGAs were seen as stop-gaps or quick exits. The perception is shifting. While some still imagine MGAs as launchpads to a capital event or exit strategy, Danny cautions against oversimplifying.
“There’s a snowball effect happening. We’re seeing more MGAs launched with a long-term strategy and with a mature understanding of what it means to build and run a regulated insurance business.”
Many thanks to the Insurance Insider host Sam Casey for this engaging discussion. Listen to the full podcast here.
Pro MGA Global Solutions continues to support this new wave of MGA leaders, helping them understand the responsibilities of running an MGA, connecting them with aligned capacity partners, and building frameworks for long-term success.
For more insight into Pro MGA’s work or to explore launching your own MGA, visit: Pro MGA Global Solutions
Meet our expert
Name: Danny Maleary
Job title: CEO, Pro MGA Global Solutions
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