It is a good time to be an MGA. There has been significant growth amongst both new and traditional agencies. Inevitably, many MGAs are looking at the potential next stage of their evolution - becoming a full-stack insurer.
In the UK the Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA) both have to agree to authorise this change in status. During this process, companies must overcome a range of challenges, including capital-related issues, the long waiting time for determination, and the uncertainty around the process.
This write-up is based on our live event From MGA to Full Stack Insurer - Everything You Need to Know, sponsored by PKF.
It is available to download for free here.