Insurance Business UK: From concerns about talent pipelines, to capacity crunches, to regulatory upheavals, an MGA’s task of navigating the headwinds and tailwinds faced by intermediaries operating in the insurance market is never done. And despite the variable nature of MGAs, there’s a common theme linking those that have done so successfully – their ability to rapidly adapt and evolve in accordance with the expectations of their key stakeholders and the broader market alike.
This same adaptability is at the core of the operational restructuring Burns & Wilcox is undergoing in the UK, according to UK managing director Stuart Kilpatrick (pictured). In conversation with Insurance Business, he outlined how the overhaul – which will see the MGA move from a product-line focus to an industry segment focus – was crystallized during 2023’s BIBA conference and discussions with the regional broking market community.
“In our very genesis, we were much more London market centric than we are now, so our product line focus made sense because the London market tends to structure itself in that way,” he said. “But over the last few years – particularly since we joined the H.W. Kaufman Group in 2020 – that hasn’t played out the same way given our presence in the regional market space. We’ve got offices in London, Birmingham, Manchester and Bristol and our London business is still writing regional business.” READ MORE.
