U.S. MGA Premiums Reach $128 Billion as Market Continues to Expand
The U.S. managing general agent (MGA) market saw continued growth in 2025, with total premiums reaching an estimated $128 billion according to Conning's latest analysis. Statutory filings reported direct MGA premium written at $102.6 billion, a 12% increase from the previous year. This expansion is attributed to factors such as AI adoption, data-driven underwriting, and flexible access to insurance capacity. Conning’s study highlights how MGAs are playing an increasingly central role in reshaping the insurance value chain by offering specialized expertise, technology-enabled capabilities, and modular risk solutions. The report also notes that fronting carriers contributed significantly to MGA growth, with $22.6 billion in gross premium written during 2025. The study emphasizes broader trends including increased specialization across underwriting, distribution, capital structures, and emerging operating models. These developments are accelerating innovation within the insurance industry as MGAs become strategic partners for insurers, reinsurers, and alternative capital providers.
Topics: AI in underwriting MGA growth property-casualty insurance specialty markets