MGA (Managing General Agent)
A managing general agent is a specialised insurance intermediary that has been granted underwriting authority by a carrier, allowing it to bind coverage, price risk, and often handle claims on that carrier's behalf within an agreed appetite.
Also known as: Managing General Agent, Program administrator
MGAs sit between retail or wholesale brokers and the carriers that ultimately hold the risk. Because they hold delegated authority, they perform functions that would otherwise sit with the carrier: clearing submissions, underwriting, rating, issuing quotes and binding.
The economics matter for how MGAs think about operations. An MGA earns commission on the premium it places, so profitability depends on the volume it can process against the cost of the team processing it. Intake capacity is therefore a direct constraint on revenue, and headcount is the traditional lever for increasing it.
A program administrator is a closely related role, typically managing a specific program for a defined class of business, and facing the same intake constraints.
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