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Is the MGA start-up boom here to stay? -
The MGA will be trying to replace the transactional liability capacity in the coming weeks.
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The group joined Velocity in December and includes James Robertson.
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The distribution firm has accused the MGA platform of illegally recruiting staff.
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The niche auto underwriting cell was the first to launch on the MGA platform.
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Last month, MGA Acquinex’s 20+ transactional risk team resigned for roles at Howden-owned MGA Dual.
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The MGA launched last October with a B.P. Marsh investment.
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The MGA will have a broad casualty-focused appetite with Lloyd’s capacity backing.
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This was Ryan’s second-largest 2024 deal, after its $1.4bn Assure purchase.
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The broker is understood to be seeking a consideration of £3.75bn+.
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