During an interview with The Insurer TV at the 2024 Rendez-Vous de Monte Carlo, Danny Maleary, CEO of Pro MGA Global Solutions, discussed the rapid expansion of the European MGA market, noting how the MGA super-cycle, initially centred in the US, is now gaining momentum in Europe.
“We’ve launched around 30 MGAs across Europe, supported by strong distribution partners and substantial risk capital keen to fuel growth in the region,” Maleary said.
While the European MGA market has been expanding for some time, Maleary expects the pace to increase, despite the challenges of navigating diverse markets across different territories.
Maleary also highlighted the growing opportunity for MGAs to enter the casualty sector, which has struggled in recent years. “I believe the partnership between reinsurers, insurers, and MGAs will drive more targeted growth in this space,” he explained.
Additionally, Maleary views MGAs as a key force in attracting fresh talent to the insurance sector, thanks to the entrepreneurial spirit and opportunities they provide.
Click the thumbnail above to watch the full interview, shared with thanks to the Insurer TV team.
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Name: Danny Maleary
Job title: CEO, Pro MGA Global Solutions
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