In the third episode of the Howden Re View podcast, senior leaders from Howden Capital Markets & Advisory discussed current trends and future developments in the global Managing General Agent (MGA) market. Jarad Madea, CEO, Michael Forman, Co-Head North America, and Leo Beckham, Head of UK & Europe, led the conversation.
The discussion focused on how MGAs are becoming a more established part of the property and casualty (P&C) insurance value chain. The panel noted that investor interest in MGAs is growing across different regions and areas of expertise.
According to the episode, mergers and acquisitions (M&A) activity remains strong as investors look for opportunities to achieve scale, diversification, and stable revenue streams. The leaders also pointed out that new capital structures—such as sidecars, reciprocal exchanges, and Lloyd’s syndicates—are making it easier for MGAs to access funding and increase their overall value.
The speakers highlighted that MGAs are contributing to structural changes within insurance markets. This shift is supported by innovation, specialized talent, and increased global capacity.
"MGAs have become an established and valued part of the P&C value chain," said one participant during the podcast. "Investor appetite continues to expand across regions and disciplines."