Revealed: Seven MGAs awarded five stars in Insurance Times’ 2024/25 MGA survey

The results are in – seven MGAs have received a five star rating from their broker partners, according to Insurance Times’ Five Star Rating Report: MGA market 2024/25.

Based on a survey of 1,650 UK general insurance brokers – which investigated brokers’ opinions and levels of satisfaction with the services they receive from MGA partners – 31 MGAs have been awarded a performance linked star rating out of five for 2024/25.

This year’s report, which marks the fifth annual instalment of Insurance Times’ exclusive MGA research, will be published in November 2024 in association with the Managing General Agents’ Association (MGAA).

The full microsite detailing the star rating data tables and trend analysis will be available shortly after the print supplement is issued.

Report highlights

This year’s MGA survey was open to UK brokers between July and September 2024. Brokers across the UK were asked to identify and rate the MGAs they have regularly placed business with during the past 12 months.

The MGAs that attained the maximum five star rating from brokers this year are:

• Lorega.
• MPR Underwriting.
• Renovation Underwriting.
• Generis Underwriting.
• CFC Underwriting.
• KGM Underwriting.
• Bspoke Group. 

Out of the remaining 24 MGAs, brokers awarded 15 MGAs an overall four star rating, seven received a three star score and two MGAs were awarded two stars by broker partners.

Insurance Times’ head of research, Savan Shah, said: ”MGAs play a pivotal part in the insurance market and have been even more integral over the last 12 months of business activity.

”Their services, products and support have been so essential to brokers over the last year – maybe more so than ever before.”

Shah added that the 2024/25 report would help brokers to justify their selection of MGAs to end clients, as well as allow MGAs themselves to benchmark their service and improve their overall proposition.

He continued: “A big thank you to all the brokers that came forward to participate in the survey – your views and feedback will surely steer the MGA market through challenging times over the next year.”

For MGAs, insurers and other organisations wanting to receive advanced in-depth analysis of the MGA survey, the MGA Data Insight Book can be acquired by emailing Aisha Roberts at Aisha.roberts@insurancetimes.co.uk.