The last 5 years (2019-2024) have been largely discussed\u00a0as a Hard Market in the insurance industry. During this time, MGAs haven't just weathered the challenges, they've grown through them. In 2024 alone, U.S. MGAs wrote\u00a0$114.1 billion\u00a0in direct premiums, a 16% jump from the prior year, significantly outpacing growth in the broader property-casualty sector <\/span>(Conning Report)<\/span><\/a>.<\/span>\u00a0<\/span><\/p>\n Yet, despite the impressi<\/span>ve expansion, MG<\/span>As are facing\u00a0a capacity crunch, with negotiations becoming more demanding and assessments more rigorous. And this has everything to do with the ongoing\u00a0Hard market phase.<\/span>\u00a0<\/span> So, what exactly is a Hard market, and how can MGAs\u00a0better navigate one? <\/span><\/b>\u00a0<\/span><\/p>\n Insurance veterans <\/span>Chris Lowell (Managing Director, InnSure) and Somil Jain (Principal & Senior Consulting Actuary, Lewis & Ellis) answer these questions and more in MGA101: our video series unpacking\u00a0all things risk capacity<\/span> \u2014 in particular,\u00a0<\/span>the <\/span>how and what<\/span><\/i> of <\/span>having c<\/span>hallenging\u00a0capacity conversations.<\/span>\u00a0<\/span><\/p>\n
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