What will it take to restructure an MGA re/insurance company?

That was one of the questions Ian Anson (pictured) had to answer shortly after he was promoted to managing director after 18 months as CEO of Aventum-owned Rokstone.

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Last year, the business was split into three broad underwriting divisions, with three lead directors leading 23 different business units. He said that as Managing Director, he works closely with Rokstone CEO Potter to support the underwriting side of the company; From transformation programmes, to capabilities renewal, to people management, to partnerships while also supporting the day to day operations of the company.

“Ultimately, the two core principles for us as an MGA platform are talent and ability,” he said. “If you can do a really good job of aligning those two things, then you’ve got the foundation of a winning formula. So, that’s where I try to focus a lot — attracting the right talent, attracting the right capabilities, and then aligning the two.”

Talent in Reinsurance – How to Attract the Best

On the issue of talent, Anson noted that many of those who come from a corporate environment have found themselves “declining over time,” whether as a result of internal cultural elements or compensation structures. There was a need to change this perception.

“For me, it’s all about hiring the right mix of personalities,” he said. “I’m a firm believer that you get out of life doing what you put into it, and you find your level in practice. I love working with passionate people.”

The ownership model is a natural extension of that talent drive, he said. MGA offers specialist underwriters ownership of their profits and losses. As a result, each underwriter must be part of the overall winning team but align with their own performance. Anson believes this has brought the team closer together by allowing them to be part of the same growth journey, but only responsible for their own results.

What is the agenda for 2024?

Looking at what is at the top of the business agenda this year, he noted its focus on talent acquisition and creating and retaining long-term capable partners across multiple business lines.

“We have some intellectually interesting reinsurance proposals at the moment, where we have reached critical mass and scale which means we can’t just look at building a business line and attaching capacity to it,” he said. “We have a whole new plethora of opportunities open to us to allow us to start structuring full account capacity deals and cross-category deals that give us more diversification.

“That’s always the key for us, no matter how good a job we do in our underwriting business — ultimately, as an MGA, you’re writing based on someone else’s ability. So, there are elements you can control on the underwriting side — your strategy, “And your controls, your guidelines, your talent, your pricing and so on – but there are some things you can’t control and I never want us to be in a position where changing the appetite or vision of a company could hurt us.”

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