Can Europe’s MGA model thrive through the cycle?

September 29, 2026

Howden’s latest reinsurance market research points to an environment in which capacity providers and investors will become much more selective, prioritising quality over growth.

Can Europe’s MGA model thrive through the cycle?

Europe’s delegated authority market represents approximately US$23 billion in premium across more than 650 MGAs. The model has proved it can scale. The question now is whether it can deliver sustainable returns and growth across market cycles.

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September 2026

The missing connections in delegated authority

As rates soften across many lines of business, the economics of delegated authority business are increasingly challenged by slow and duplicative processes. The current costs of disconnection are high, but a far better-connected market by 2030 is entirely feasible.