Canada has over 80 MGAs. Of those, 65 manage over $3 billion in premium transactions. Despite the stabilisation of the commercial markets, many believe MGAs will continue to thrive, having established themselves as a legitimate and efficient distribution channel in recent years.
For this year’s list of 5-star MGAs in Canada, Insurance Business Canada (IBC) surveyed hundreds of brokers across the country, rating the quality of service they have received from their MGAs over the last 12 months.
The survey respondents rated their MGAs on a scale of one (poor) to five (excellent) in 10 criteria, including pricing, overall responsiveness, product range, and technical expertise product knowledge. They also rated the importance of each criterion when choosing an MGA partner.
The MGAs that earned an average score of four or higher in at least one criterion were awarded a 5-star rating. Among IBC’s 5-star MGAs this year, only one achieved All-Star status by earning 5-star ratings across all criteria.
Some of the 25 Canadian MGAs that earned a 5-star rating this year included:
See the rest of this year’s IBC 5-star MGAs and what makes them outstanding by reading the IBC 5-Star MGAs 2022 report.
