MGAs perspective for navigating the hybrid fronting landscape
With the hybrid fronting model poised to transform the reinsurance industry, our CEO Hugh O’Donnell, Chief Broker Neil Hitchcock, and Business Development Consultant Kurt Bounds recently shared their insights in an interview with Mia Wallace of Insurance Business.
Discussing the implications for Managing General Agents (MGAs), Neil Hitchcock explained that they benefit from robust insurance partnerships, enabling them to underwrite desired products without additional intermediaries. The model also provides MGAs with enhanced capacity and broader options by accessing the reinsurance market directly.
Key Benefits of Hybrid Fronting
A significant advantage of hybrid fronting lies in the meticulous risk assessment conducted by those directly involved, ensuring thorough vetting by participating carriers. Hugh emphasised this point, underscoring the increased accountability and legitimacy it brings. He also highlighted the crucial role of personal connections in the industry, which can profoundly impact the success of partnerships between MGAs and fronting companies.
