At the recent Target Markets Annual Summit in Scottsdale, Arizona, Abbie Taylor, Fortegra’s executive vice president and chief operating officer, shared insights on the growing market of Managing General Agents (MGAs) and Fortegra’s role in the specialty insurance landscape. The event brought together 2,000 industry leaders, including MGAs, program administrators, and carriers.
Taylor highlighted that the MGA market in the U.S. has more than doubled in size over the past five years and recently surpassed $110 billion. This sector is growing faster than the overall property and casualty market. There are now over 1,100 MGAs and program administrators active nationwide, with solid growth also seen in the UK and Europe. The rise of MGAs reflects a mix of experienced professionals leaving big insurers to build their own businesses and advances in technology making agency operations easier and more agile.
Despite the bright outlook, MGAs face some challenges. Taylor pointed out the need to keep up with changing insurance rates, invest heavily in technology, manage increasing regulations, and cope with high submission volumes that don’t always convert into sales. Additionally, MGAs are figuring out how to best use artificial intelligence and automation in their workflows.
Regarding the excess and surplus (E&S) lines market, Taylor said it continues to expand as businesses seek coverage for unusual or hard-to-insure risks. MGAs are creating specialized products for these needs, and companies like Fortegra provide the necessary insurance capacity. She noted that E&S markets are ideal for quick innovation because they allow underwriting flexibility, which is crucial as risks like cyber threats and environmental issues evolve rapidly.
Fortegra is also expanding globally. Taylor discussed recent moves to strengthen their presence in the London market by joining Lloyd’s underwriting room, a key hub for specialty insurance. This complements Fortegra’s existing operations in the UK and Belgium. The company’s new status as an admitted insurer to the NAIC Quarterly Listing also allows UK MGAs to access U.S. surplus lines business, creating stronger ties across the Atlantic.
Another big announcement from Taylor was Fortegra’s agreement to be acquired by DB Insurance, a company from Korea. This partnership is aimed at boosting Fortegra’s resources and helping DB grow in the U.S. and European specialty insurance markets. DB plans to become a major player in the insurance world by 2033, and Fortegra’s experienced team and strong relationships make it an ideal partner.
Taylor emphasized what makes Fortegra stand out in a competitive field. They combine deep data analysis with underwriting expertise, looking at millions of data points to spot trends and risks early. Their approach to claims focuses on keeping smaller claims manageable and carefully handling complex losses through specialized teams. Fortegra offers flexible insurance products across all 50 states, with both admitted and surplus lines options, and supports a range of policy forms including proprietary ones.
The company also works closely with partners on regulatory compliance throughout their insurance programs. For Fortegra, successful partnerships rely on shared values in underwriting skill, technology use, and collaboration on claims. Taylor described this teamwork approach as key to helping MGAs grow efficiently and profitably in today’s evolving insurance market.
As the MGA space grows and changes, Fortegra’s moves signal a commitment to supporting specialty agents and program administrators with the tools and backing they need to succeed. Their global expansion and new partner relationship position them well for what lies ahead.