Insurance
Home›Insurance›Industry & Deals›US MGA market premiums near $128 billion in 2025, Conn…
US MGA market premiums near $128 billion in 2025, Conning estimates
Conning said MGA direct premium written in statutory filings rose to $102.6 billion in 2025, up 12% from 2024.
Conning estimated that total premiums in the US managing general agent, or MGA, market reached approximately $128 billion in 2025, as the segment continued to expand on the back of favorable conditions.
The investment management firm attributed growth to demand for specialized underwriting expertise and niche insurance solutions, along with increased adoption of AI and data-driven underwriting. Conning also pointed to investment in technology-enabled efficiency and product innovation across the MGA value chain.
Statutory filings reported $102.6 billion in MGA direct premium written, a 12% increase versus 2024. Conning said its broader estimate includes Lloyd's business and other premium not fully captured in statutory reporting.
Conning further estimated that estimated $22.6 billion in gross premium came through fronting carrier relationships, representing about 20% of total US MGA premium. In addition, Conning said reported MGA direct premium written through statutory Note 19 filings increased 12% in 2025, more than double the broader property-casualty market growth rate of about 5%.