General Insurance Article - LMA and MGAA enter reciprocal arrangement

 On a global basis, business written through delegated authorities currently accounts for around a third of Lloyd’s gross premium income and this figure is growing year-on-year.

 Peter Staddon, MGAA managing director, said: “The Association is committed to supporting a thriving managing general agents’ sector. By working more closely with the LMA we are able to improve coverholders’ access to the Lloyd’s market and to reduce unnecessary duplication of effort and cost for both coverholders and managing agents.”

 David Gittings, CEO of the LMA said: “A closer relationship with the MGAA is an important part of our wider strategy to create more effective communication channels with a variety of stakeholders involved in coverholder operations. This should enable us to keep all of those stakeholders informed and for them to share issues with us, making the Lloyd’s market a more attractive place for delegated authority business.”