OAC, an actuarial consultant under the Broadstone group, has announced that it has officially joined the Managing General Agents’ Association (MGAA).
The association, since its inception 2011, has grown to encompass a membership that controls over £7.3 billion of gross written premiums. It has over 200 MGA members, 56 market practitioners, and 122 suppliers.
OAC, meanwhile, offers a range of services to MGAs, ranging from actuarial services like pricing, portfolio analysis, modelling, and optimisation to compliance services. The firm also provides data analytics, data quality, and calculation and modelling services with actuarial assurance on top.
OAC non-life consulting head Graeme Charters (pictured) shared his thoughts on becoming a member of the MGAA at a time of rapid growth in this part of the insurance sector.
“Becoming a member will allow us to connect with MGAs and support them with their actuarial needs through our high-quality offering. We look forward to our collaboration with the MGAA and the opportunities it will bring,” Charters said.
Recently, the association also welcomed its 200th member, Signature Underwriting, a firm specialising in taxi, courier, haulage, and commercial own goods insurance.
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