BIBA and MGA Association team up to tackle market issues

Two UK associations representing brokers and MGAs said they will collaborate on key market issues for their members after become affiliates. The British Insurance Brokers’ Association (BIBA) and the Managing General Agents’ Association (MGAA) have formalised their relationship in a move that they say will “create even closer working ties in recognition that they are tackling similar market challenges”.

“Both BIBA and the MGAA believe that collaborating on market issues is the best way to solve challenges for the benefit of members,” the two associations said.

The move follows the appointment of Graeme Trudgill last year as CEO of BIBA, when he advocated for allyship across the industry.

Trudgill said working closer with the MGAA as an affiliate is a positive step forward, adding that growth in the MGA market is helping brokers provide capacity to clients.

“The market is challenging, and I believe that not only can we tackle together many of the issues that both brokers and MGAs face, but that MGAs can be part of the solution to some of the capacity challenges that are impacting our members,” he explained.

Mike Keating, CEO at the MGAA, said: “With over 90% of MGAA members working with the broker community, our combined efforts will ensure we quickly identify and address issues, and, importantly, seize opportunities for both groups of members.”

It is the first time that a UK insurance association has become an affiliate of BIBA, with other affiliate members including overseas organisations or organisations such as The British Property Federation that help in their representation to regulators and government.