BIBA and MGAA to work closer together

The British Insurance Brokers’ Association (BIBA) and the Managing General Agents’ Association (MGAA) have formalised their working relationship by becoming affiliates. This formal association between the two organisations is a move to create even closer working ties in recognition that they are tackling similar market challenges.

Upon taking the helm at BIBA last year, CEO Graeme Trudgill outlined his vision of allyship across the industry by working closer with the industry, the regulator and the Government on behalf of BIBA’s members. Both BIBA and the MGAA believe that collaborating on market issues is the best way to solve challenges for the benefit of members.

Trudgill commented: “We have a productive working relationship with the MGAA, working closer together for the good of all our members can only be a positive step forward. 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.”

Mike Keating, CEO at the MGAA, added: “I’m delighted that the MGAA is now an official affiliate of BIBA. 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.”

The MGAA is the first and only UK insurance association to become a BIBA affiliate. BIBA’s affiliate membership is offered to organisations where representation with regulators, government and other industry stakeholders would be of mutual benefit, or to overseas organisations who wish to access BIBA’s services. Other BIBA affiliates include The British Property Federation, The Property Institute, CGPA Europe and the Nigerian Council of Registered Insurance Brokers and the Insurance Brokers’ Association of Ghana.

ENDS –

Notes to editors

For further information please contact:

BIBA press office:
Pam Quinn, Head of Communications
07562 616686
quinnp@biba.org.uk

Leighann Forsyth, Deputy Head of Communications
07917 738727
forsythl@biba.org.uk

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About the British Insurance Brokers’ Association

The British Insurance Brokers’ Association (BIBA) is the UK’s leading general insurance intermediary organisation representing the interests of insurance brokers, intermediaries and their customers.

BIBA membership includes around 1800 regulated firms, employing more than 100,000 people. General insurance brokers contribute 1% of GDP to the UK economy; they arrange 77% of all general insurance with a premium totalling £105.5bn and 94% of all commercial insurance business. Insurance brokers put their customers’ interests first, providing advice, access to suitable insurance protection and risk management.

BIBA receives hundreds of thousands of enquiries per year to its Find Insurance Services, online and via the telephone, which are directed to insurance broking firms.

BIBA is the voice of the sector advising members, Government, regulators, consumer bodies and other stakeholders on key insurance issues.

About the MGAA

Founded in 2011, the MGAA has a deep understanding of the crucial role MGAs play within the insurance distribution chain, providing significant value to capacity providers, brokers, and consumers.

We are dedicated to fostering innovation and maintaining the highest professional standards within our community, aiming to enhance the sustainability, effectiveness, profitability, and authority of our MGA members.

As a not-for-profit organisation, we focus on the needs and aspirations of our members. Our Board comprises a balanced and diverse group of elected directors from the MGA community, supported by four dedicated committees and a full-time executive team.