Chief Executive – MGA (Insurer-Backed) | £45m → £130m GWP | Substantial Equity Participation
Location: London (flexible on candidate base)
Reporting to: Group CEO
Salary: Circa £140,000 – £150,000 + £8,000 car allowance + 30% bonus
Equity: Very substantial, seven-figure equity participation
Search Status: This role is retained with me exclusively
The Business
Our client is an £80 million revenue, £22.5 million profit, 740-person insurance group with a genuine challenger positioning and a clear mission: to change the insurance marketplace for the better.
Building out the group’s MGA business is the number one strategic priority for the next three-year period, and the Group CEO is now seeking a Chief Executive to lead that transformation.
The MGA Today
- £45 million GWP
- Core lines: financial lines, non-standard commercial risks, and specialist private client products
- Strong, long-standing capacity relationships including AXA, Hiscox and Liberty
- Currently profitable and well-run, with a solid platform to build from
The Opportunity
This is a build-and-scale mandate. The successful candidate will lead the MGA through an ambitious three-year growth plan, targeting an increase from £45 million to £130 million GWP.
Key elements of the strategy include:
- Merging two recently acquired businesses (currently trading separately) under a single new brand
- Designing and implementing a new technology platform to support scale
- Driving growth organically through existing and new product lines, and new underwriting teams
- Pursuing further bolt-on acquisitions
- Rebalancing distribution so that 75% of business is sourced through third-party brokers
- Leading a period of significant organisational and cultural change
The Role
This is a senior, board-level appointment. The successful candidate will:
- Report directly to the Group CEO
- Sit as a member of the Group Executive
- Take full P&L and operational ownership of the MGA business
- Be responsible for setting and executing strategy, not underwriting personally
- Build and lead a high-performing senior team through a period of rapid growth and integration
- Represent the MGA externally with brokers, capacity providers and the wider market
Candidate Profile
We are looking for a commercially-minded business leader, not an underwriter looking to step up. The ideal candidate will bring:
- A strong entrepreneurial track record, with the ability to build and scale a business, not just manage an existing book
- Genuine insight into underwriting and risk, with credible insurer-side (capacity) experience — this is not a role for a broker “masquerading” as an MGA leader
- Experience gained within an MGA, insurer, or composite provider is all of interest, provided the mindset is right — composite backgrounds are welcome
- A demonstrable track record of leading change and transformation, ideally including M&A integration, rebrand, or technology-led business transformation
- Strong stakeholder management skills, credible at Group Executive and Board level
- The gravitas and commercial acumen to build relationships with third-party brokers and capacity partners at a senior level
Compensation & Package
- Base salary: circa £140,000 – £150,000
- Car allowance: £8,000
- Bonus: up to 30%
- Equity: a very substantial, seven-figure equity opportunity forming a core part of the overall package
- Full benefits package in line with a group of this size
Location & Process
The business’s operational epicentre is Whitechapel, London, though the Group CEO is flexible on where the successful candidate is based day-to-day.
The process will begin with either an initial Teams call or a face-to-face meeting in London, at the candidate’s preference.
How to Apply
This search is being handled on a retained and confidential basis. For a confidential discussion about this opportunity, please contact Ian at IDEX directly.
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