At the recent Target Markets Annual Summit in Scottsdale, Arizona, Abbie Taylor, executive vice president and chief operating officer of Fortegra, shared insights about the growing world of managing general agents (MGAs) and the broader specialty insurance market. The event drew around 2,000 industry professionals, including MGAs, program administrators, and insurance carriers.
Taylor revealed that the U.S. MGA market today tops $110 billion, having doubled in size over the past five years. This growth is faster than the overall property and casualty insurance market. With more than 1,100 MGAs and program administrators active, the market is expanding not only in the U.S. but also in the UK and Europe. Taylor credits this growth to talented professionals leaving big insurers to start their own agencies, backed by available capacity and new technology that allows them to move quickly and serve niche markets.
Despite this success, MGAs face challenges such as shifting pricing conditions, ongoing technology upgrades, rising regulatory demands, and high workloads with fewer conversions. Many are also exploring how to best use AI and automation to improve their businesses.
The excess and surplus (E&S) lines market is another area showing strong growth. It serves risks that are harder to place with traditional insurance, and MGAs are creating specific products for those unique needs. Taylor pointed out that risks in areas like cyber and environmental insurance have changed a lot over the last decade, and the E&S market offers the flexibility insurers need to keep up. Fortegra sees itself as a key partner to MGAs, helping them grow effectively and meet new demands.
Fortegra is also expanding its footprint internationally. It has strengthened its presence in the UK and Belgium and recently gained a spot on the NAIC Quarterly Listing of Alien Insurers. This move enables UK MGAs to access U.S. surplus lines, combining regional relationships with capacity to handle risks across the Atlantic. Being part of the Lloyd’s market in London further enhances Fortegra’s reach and ability to support partners worldwide.
The company is set to be acquired by South Korea’s DB Insurance, a deal that Taylor describes as a big step forward. The partnership will blend Fortegra’s specialty insurance know-how with DB Insurance’s financial strength and growth plans. DB aims to build its presence in the U.S. and Europe and sees Fortegra as a strong partner with a solid performance record and established industry ties.
Taylor highlighted what sets Fortegra apart in a crowded field. Besides providing insurance capacity, the company offers deep expertise, smart use of data science, and a proactive approach to claims. Their focus on solid underwriting, careful claims handling, financial discipline, and technology helps them stay consistent and reliable. For example, Fortegra closely monitors claims and pricing data to catch trends early and keep smaller claims from growing larger problems. They work in all 50 states on both admitted and surplus lines policies and support standard and custom forms alongside reinsurance options. Fortegra also values strong partnerships, looking for MGAs who bring expertise, use technology wisely, and collaborate on claims insights.
Looking to the future, Fortegra is serious about building talent. With the insurance industry facing a wave of retirements—half the workforce may retire by 2039—the company is investing in new and existing employees. Fortegra runs a two-year leadership development program where young professionals rotate through key departments to learn the business. They also plan to launch this program in London soon. Alongside this, the Fortegra Institute offers ongoing training led by senior leaders to help employees grow their specialized skills and leadership abilities.
Taylor emphasized that the insurance world is changing fast, with technology and new generations reshaping how companies work. Fortegra aims to attract people who want meaningful careers in a dynamic setting. By encouraging innovation and teamwork, the company hopes to create a place where professionals can build their futures and shape specialty insurance in years to come.