Howden Re has launched a new podcast titled "The Howden Re View" on Spotify. This season, experts from Howden Re, Bowood, and Howden Capital Markets & Advisory (HCMA) will discuss global MGA landscapes and market trends.
The first episode, "The MGA is here to stay," features Matt Beard and Michael Jameson, Co-Presidents of Global Programs at Howden Re, along with Nicholas Harrap, Managing Director of UK Programs at Bowood. They explore the evolution of the MGA market and Howden’s involvement in this sector.
Topics covered in this episode include the transformation of MGAs from simple distribution platforms to sophisticated underwriting operations. The discussion also highlights Howden's unique capabilities in providing global coverage alongside Bowood and HCMA, as well as end-to-end advisory placement services that analyze future trends. Additionally, they address the continued growth of alternative capital and increased use of MGAs in risk management.
Matt Beard emphasized the importance of expertise in the program space as a key element of their global offering: “Expertise in the program space is an important pillar of our global offering; you know that’s not going away. This is not a short-term investment for us or for Howden. We think this industry is going to continue to be a massive part of the insurance world and it’s something that we take a lot of pride in.”
Michael Jameson commented on the sophistication of the MGA space: “The MGA space has become a lot more sophisticated over the last couple of years. Initially, it was known as more of a distribution platform which has now evolved into a pure ready-made underwriting platform that can handle everything from the distribution to accounting and processes, as well as the handling of monies and flow of funds to having their own TPAs for claims or the ability to access TPAs.”
Nicholas Harrap highlighted Bowood's position within London’s market: “The Bowood book of business is the largest of every single carrier in London and it’s the best business. It’s the best business not just form [sic] the point of view that the MGA is good, it’s well managed, it’s well looked after, the presentations, the accounting, everything is incredibly slick and well managed and that gives us great weight as well.”
Listeners are encouraged to subscribe to follow these discussions.