Gallagher boss: Whether fronter or insurer, MGAs need ‘certainty of capacity’
In the head-to-head Fronting Insurers Vs Traditional Insurers session at the Managing General Agents Association conference last week, Martyn Glover, partner at Gallagher Re, stated MGAs need certainty of capacity.
He claimed it is not good business sense for an MGA to agree a binder or cover holder agreement and “immediately start worrying about the renewal the next year”.
Glover told the room: “If the insurer can give long-term capacity, that’s great. However, there have been situations with certain European (re)insurers where [senior managers] change fairly regularly.
“So you then worry that in two years time you will get out of bed and find that the management team has changed [and what does that means
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