Managing General Agents (MGAs) Flashcards
1
Q
Who is an MGA considered to be the intermediary of?
A
the regulator
2
Q
Who do MGAs manage?
A
They sponsor and manage syndicates. They canvas members for commitments of capacity, create the syndicate, hire underwriters, and oversee all of the syndicate’s activities. Managing agents may run more than one syndicate, as borne out in the fact that in 2017 the 85 syndicates were operated by just 56 managing agents.
