A Managing General Underwriter (MGU) is a business entity that acts as an agent for one or multiple insurance companies to transact specialized insurance products. Typically independent from the insurers, an MGU serves as an outsourced provider of sales, underwriting, and often other services, allowing insurers to efficiently offer niche or complex insurance solutions.
From a client’s perspective, partnering with a specialized MGU provides access to dedicated experts who craft tailored solutions that precisely address their unique needs. This approach not only ensures the delivery of state-of-the-art coverage but also leverages the inherent efficiency of the MGU business model, resulting in a competitive offering.
For insurance carriers, MGUs offer significant outsourcing advantages, including streamlined access to niche markets that require a higher degree of technical expertise than standard business. Considering the efficiencies and focus of the MGU model, the overall cost burden for accessing specialized markets is reduced, making this an economically efficient model for all parties - clients receive customized and competitively priced solutions, carriers achieve enhanced profit margins, and MGUs secure adequate returns on their specialized services.
SRS Altitude is the first European MGU dedicated to Alternative Risk Transfer, offering comprehensive services that include solution structuring, risk underwriting, and the binding of finalized insurance contracts on behalf of our strategic carrier partners. We specialize in tailoring risk solutions that meet the unique needs of our clients, leveraging our expertise to deliver efficient and precise outcomes in collaboration with leading insurers.
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