Active Re COO Says Barbados Can Rival Bermuda as MGA Hub
BRIDGETOWN, Barbados — Barbados is positioning itself as a primary domicile for managing general agents, with Active Re’s chief operating officer saying the island can compete with Bermuda, Guernsey and the Cayman Islands for a share of a rapidly growing MGA market.
Robert Ali, speaking at the Barbados Risk & Insurance Management Conference, said the MGA channel has moved from niche to core. "The MGA model responds to a real market need: specialization, agility, and the ability to scale intelligently," he said.
Industry data underscores the pitch. Conning valued the US MGA market at $115 billion in premium in 2025. AM Best reported that 19 MGAs wrote more than $500 million in direct premium in 2024, up from 12 a year earlier. The global MGA channel has been cited as worth more than $104 billion in broader market estimates.
Ali highlighted three pillars behind Barbados’s bid: a risk‑based capital framework, efficient licensing timelines and a competitive tax environment. He argued those features can attract MGAs that need both speed and regulatory rigor to scale specialty lines such as cyber, parametric products and digital‑asset coverage.
The timing is notable. Bermuda introduced a 15% corporate income tax in 2025, removing a long‑standing fiscal advantage. Guernsey continues to regulate MGAs under a dedicated Insurance Managers framework. The Cayman Islands Monetary Authority publishes guidance targeting licensing decisions within about six weeks. Ali said Barbados can differentiate on both processing speed and oversight.
Active Re has practical stakes in the debate. The Barbados‑domiciled reinsurer, rated A‑ (Excellent) by AM Best since 2018, disclosed $223.8 million in gross written premium for 2024. Its seven MGA partnerships accounted for roughly 46% of that total through delegated authority programs.
Ali acknowledged MGAs bring compliance and regulatory challenges. He described delegated authority as an efficient route into new markets when paired with disciplined oversight and technology. "The future of the market lies in smarter structures, where technology and specialization enable growth without losing technical discipline," he said.
Industry observers say quicker licensing and clear capital rules are critical to attracting international MGAs. Compliance and governance advisers in the region note that jurisdictions seeking to grow MGA flows must balance expedited approvals with demonstrable regulatory controls to satisfy reinsurers and global capacity providers.
For Barbados, the opportunity is to convert regulatory and operational reforms into tangible market share. Ali urged market participants to "align capabilities, lean into specialization, and choose jurisdictions that combine efficiency with regulatory rigor." He said Barbados can be central to that evolution.
The pitch will test how quickly Barbados can translate policy advantages into registrations and how global MGAs respond to shifting cost and regulatory profiles across offshore domiciles.