The Managing General Agents' Association (MGAA), the representative body for managing general agents in the UK and Ireland, has appointed Padda Consulting as its new UK compliance and regulatory partner, with the partnership commencing on 1 September 2026, the same date that FCA Senior Managers and Certification Regime conduct-related reforms come into effect across the insurance sector.

As reported by Insurance Business Magazine, Padda Consulting was selected following a competitive process, with its proposal judged to align closely with the MGAA's strategic objectives. The partnership will cover broad regulatory issues, dedicated compliance advice, and additional member support services, designed to help members navigate a rapidly evolving compliance landscape.

The appointment coincides with a period of significant regulatory attention on the MGA sector. The MGAA has grown from 40 members writing £1.2 billion in gross written premium at its launch in 2011 to more than 249 MGA members today, collectively representing approximately £18 billion in gross written premium. At Lloyd's, delegated authority business now accounts for just under 40% of all business written and is forecast to exceed 45% by 2027, growth that has drawn closer scrutiny from the FCA.

The FCA's Regulatory Priorities for Insurance 2026 report extends oversight to delegated authority models, remuneration arrangements, and the use of AI in underwriting and claims, with a separate FCA review of MGA and coverholder governance expected to report findings in early 2027.

Mike Keating, chief executive of the MGAA, said: "I'm pleased to announce this partnership with Suneeta and the Padda team. Together with our excellent relationship with the FCA, Padda and the MGAA will ensure that through consistent reviews, collaborative engagement and ongoing monitoring of the MGA regulatory environment, our members' interests remain a key priority."

Suneeta Padda, founding director of Padda Consulting, said: "We are absolutely delighted to be appointed as the MGAA's UK Compliance Partner. Padda Consulting has worked across the insurance market for over 14 years, and we have been involved with the MGAA since its early days, so this really does mean a lot to us. MGAs are such an important and entrepreneurial part of the market. We are looking forward to supporting members with clear, practical, and commercial compliance advice that helps make regulation feel manageable."