Private investment firm GI Partners has announced the formation of a new managing general agency (MGA) platform in collaboration with experienced insurance executives Brad Emmons and Brian Hanuschak. The new platform aims to acquire and expand a diversified portfolio of MGAs across various insurance lines, leveraging GI Partners’ previous insurance investments, including Insurity and Patriot Growth Insurance Services.
Key Players and Their Experience
Emmons and Hanuschak bring over five decades of combined industry experience to the venture. Emmons co-founded Orchid Underwriters in 1998 and led it through growth initiatives and private equity transactions until its sale to Brown & Brown in 2022. He most recently served as CEO of property reciprocal Forza Insurance Holdings.
Hanuschak previously served as CEO of Victor Insurance Managers, a subsidiary of Marsh & McLennan, where he oversaw over $3 billion in annual premium. The duo’s expertise will be crucial in driving the platform’s strategy, focusing on underwriting, technology-based operations, and service delivery to carriers, brokers, and policyholders.
Growth Strategy and Market Outlook
The platform will aim for national reach and focus on scalable operations through technology and analytics. Steve Johnson, director at GI Partners, noted that the MGA market presents significant opportunities where technology and specialty underwriting can provide competitive advantages.
In 2023, MGAs in the US generated $77 billion in direct premiums written (DPW), marking an 8.6% year-over-year increase. While the growth rate is expected to moderate in 2025 due to increased competition from new entrants leveraging advanced technologies, the sector is still projected to maintain its growth trajectory.
Implications for the Insurance Industry
The new MGA platform’s focus on technology and data analytics is expected to drive innovation in the insurance underwriting space. By supporting MGA founders through business expansion, capability enhancement, and delivery of differentiated insurance offerings, the platform aims to capitalize on the growing demand for specialized insurance products.
