European Regulatory Map for MGAs

European Regulatory Map for MGAs

How the map works

The regulatory map sets out the rules that govern MGA business in 21 European countries. For each country, a law firm with in-depth local regulatory expertise answers the same ten questions in its own words, with the names of the lawyers who wrote them.

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European Regulatory Map for MGAs

Countries

Lydian

  • Belgium

CMS

  • Bosnia and Herzegovina
  • Czechia
  • Hungary
  • Luxembourg
  • Norway
  • Portugal
  • Slovakia
  • Slovenia
  • Sweden
  • Switzerland
  • Türkiye
  • Ukraine

Clyde & Co

  • France
  • Germany
  • Ireland
  • Italy
  • Netherlands
  • Poland
  • Spain
  • United Kingdom

The ten questions

  1. What license do I need for MGA business (underwriting and claims handling on the basis of a binder/underwriting authority from an insurer)?
  2. What requirements does the license have?
  3. Who is my regulatory authority?
  4. Do I need capital and if so, how much?
  5. Can I just register a branch of an EU MGA?
  6. Can I just register a branch of a non-EU MGA?
  7. What are my main regulatory obligations?
  8. Can I do business from the United Kingdom into EU and EEA states, and if so, what are the requirements?
  9. The binder – what is different in the United Kingdom?
  10. Which other legal requirements do I need to be aware of to start with?