Robert Ali, chief operating officer of Active Re, said Barbados is emerging as an excellent opportunity for the development of managing general agents (MGAs), mainly due to its dedicated regulatory framework and efficient business environment.
Speaking at the Barbados Risk and Insurance Management Conference (BRIM), Ali noted that the island’s risk-based capital framework, efficient licensing timelines and favorable tax environment make it a competitive jurisdiction compared with other traditional domiciles.
He explained that the MGA industry has developed into a structural pillar of the industry, with the current global market size exceeding US$104 billion.
The MGA model maintains continued double-digit growth, prioritizing expertise, agility and the ability to scale intelligently.
Furthermore, the development of the MGA ecosystem is closely tied to trends such as digitization, the use of artificial intelligence, and specialization in emerging areas ranging from cyber to parametric risk and digital assets.
“For us at Active Re, the development of the MGA model represents not only a business opportunity but also a way to strengthen the link between capacity, distribution and technical expertise in an increasingly segmented market,” Ali commented.
He continued: “I strongly believe that the future of the market lies in smarter structures where technology and specialization enable growth without losing technical discipline.
“For market participants, the priority is now clear: adapt capabilities, embrace professionalization and operate within a jurisdiction that combines efficiency with regulatory strength. Barbados has the potential to be a central part of this evolution.”