Managing General Agent

A Managing General Agent (MGA) is an agency that is contracted to perform various business functions, such as underwriting, binding, policy administration, claims, and distribution, on behalf of (re)insurance companies. Some MGAs specialize in a particular type of insurance or risk. The extent, nature and parameters of the services that the MGA provides on behalf of the insurer are stipulated in the contract between the two parties known variously as a Delegated Authority  or MGA Agreement.

For greater detail, read the article: What is a Managing General Agent?