Reinsurance managing general agents are a rare breed as opposed to their more prevalent insurance-focused counterparts. The successful reinsurance MGAs have a niche, a focus. What they have in common is they are not commodity players. They aim to bring something unique to their ceding company clients—whether it be in the form of geography, data analytics or product specialty.
Carrier Management has interviewed three reinsurance MGAs, which are companies that have been granted delegated reinsurance underwriting authority. Each MGA has its own specialty—one is focused on treaty and facultative reinsurance (Tempo Underwriting); another reinsures cyber risks (Envelop Risk); and a third offers parametric reinsurance in addition to parametric insurance (New Paradigm).