The Managing General Agents’ Association (MGAA), the representative body for managing general agents across the UK and Ireland, has appointed Padda Consulting as its new UK compliance and regulatory partner.
The partnership will take effect on September 1, 2026, following a competitive selection process in which Padda Consulting’s proposal was considered the strongest fit with the MGAA’s long-term strategic objectives. Through the agreement, the firm will provide regulatory expertise, practical compliance guidance, and enhanced member support services to help MGAs respond to an increasingly complex regulatory environment.
Padda Consulting succeeds Implement Compliance Solutions & Resources Limited (ICSR), which served as the MGAA’s compliance partner from September 2024. ICSR was later rebranded as Artex UK Advisory after its acquisition during the same year.
The new partnership is designed to strengthen the practical regulatory support available to MGAA members as compliance requirements continue to evolve. Working alongside the association and supporting its established relationship with the Financial Conduct Authority (FCA), Padda Consulting will help members stay informed of regulatory developments and better prepare for future changes.
UK MGA sector continues to expand under greater regulatory oversight
The appointment comes as the UK’s managing general agent sector continues to experience significant growth. Since its launch in 2011, the MGAA has expanded from 40 members writing £1.2 billion in gross written premium to more than 249 MGA members, collectively representing approximately £18 billion in gross written premium, according to the association’s latest published figures.
Growth has also continued within the Lloyd’s market, where delegated authority business—the operating model used by most MGAs—now accounts for just under 40% of all business written. That share is expected to exceed 45% by 2027, with delegated authority business growing more rapidly than traditional open-market placements, particularly across property binder portfolios.
The sector’s expansion has been accompanied by increased regulatory scrutiny. In November 2025, AM Best revised its outlook for the global delegated underwriting authority enterprise segment from positive to stable, citing tighter renewal conditions and greater oversight of delegated underwriting partners, despite continued premium growth.
In the UK, the FCA’s Regulatory Priorities for Insurance 2026 report, published in February, broadened its supervisory focus to include delegated authority models, remuneration practices, and the use of artificial intelligence in underwriting and claims. The regulator is also expected to publish findings from its review of MGA and coverholder governance in early 2027.
Meanwhile, the FCA’s Policy Statement PS26/6 is introducing phased reforms to the Senior Managers and Certification Regime throughout the second half of 2026. Conduct-related changes are scheduled to take effect on September 1, coinciding with the start of Padda Consulting’s partnership with the MGAA.
