MANAGING DIRECTOR’S REPORT
As we rapidly approach the end of 2015 it is interesting to look back over the past 12 months to see some of our achievements.
As the association continues to grow, with nearly 20 new MGAs joining in 2015, we need to accept that as with many successful professions there is always consolidation. That has had the effect of amending the actual number of MGA members being 105. The good news is that the total gross written premium of these 105 members is building and we should see the association’s members writing in excess of £ 4 billion in 2016.
Much of our work is co-ordinated via the Board of the MGAA and also the standing committees. To this extent I wish to thank the Board, all Committee and Forum members of the Association for all their hard work and support over the past 12 months.
At this juncture I would remind members that the association will hold it board elections in 2016 and we encourage all members, both MGAs and market practitioners, to vote for your preferred candidate who will represent your views over the next term of office.
Over the past 12 months we have actively engaged with
- The All Party Parliamentary Group on General Insurance
- The Department of Transport
- The HMRC/Treasury IPT and VAT liaison group
- Lloyd’s of London
- The London Market Group on new market initiatives
And the list goes on
Our relationship with the regulator continues where we engaged with the FCA in their scoping of thematic reviews on Claims [TR15/6] and coverholders [TR15/7]. We have also engaged on both consultation and discussion paper, seeking member’s thoughts and concerns in these areas. And in early December we are meeting FCA to discuss Professional indemnity insurance both as buyers and also as MGAs selling Brokers and intermediaries PI cover. We would not have been able to achieve that without the engagement of the membership, so for that and on behalf of the MGAA board I wish to pass on our sincere thanks.
In July we hit another milestone and held our first annual conference. Although this was on the hottest day of 2015 it did not dampen the atmosphere as we had in excess of 400 members attend. This was supported by a number of key sponsors and again our thanks and gratitude to them for making this day such a success. We have started to plan our 2016 conference which will be held in the Tower Grange, in Prescott Street in early July. Further details will follow in the New Year but if you wish to consider sponsorship then please contact either Jane or myself.
On the 14th December we will be moving to new offices just across the courtyard here in Minster Court. Please note out new address, but the telephone numbers will stay the same
8th Floor, 1 Minster Court, Mincing Lane, London EC3R 7AA
Finally Jane, Teresa and I would like to wish you a Happy Christmas and a prosperous 2016.