In this episode of MGAA Conversations, host Mike Keating sits down with Chris Davies, Group Chief Executive Officer at DRS Bond, to explore the highly specialised world of surety bonds and the niche MGA market. Chris provides a candid and in-depth look at how DRS is responding to a capacity gap in the UK construction and real estate sectors, how macroeconomic and political uncertainties impact the industry, and why attracting mid-career talent is becoming an urgent issue across insurance.

From the post-COVID and Ukraine-war bond capacity squeeze to the regulatory challenges facing MGAs, Chris delivers both strategic insight and actionable commentary. The conversation also touches on the importance of innovation, diversity, and stability as critical ingredients for shaping a bright future for the MGA and surety communities.

Key Quotes

“Surety is a bit of an oddball in insurance — which suits me fine, because I am too.”

— Chris Davies

“We're only going to deal with investment-grade providers — that's now the bare minimum in surety.”

— Chris Davies

“The biggest burning issue at C-suite level right now is the shrinking talent pool between 30 and 49. We’re all fishing in the same, small pond.”

— Chris Davies

“Innovation doesn’t always mean reinventing the wheel — sometimes, it’s about doing things differently and better than anyone else.”

— Chris Davies

Resources & Mentions

• DRS Bond - www.drsbonds.co.uk


• MGAA – www.mgaa.co.uk

About the Guest: Chris Davies

Chris Davies is the Group CEO of DRS Bond Management, a specialist surety bond MGA focused on construction and real estate SMEs in the UK. With decades of experience in financial services, insurance, and governance, Chris brings a strategic and disciplined approach to underwriting, regulation, and leadership. His career spans executive roles in compliance, corporate governance, and MGA formation.

https://www.linkedin.com/in/drschrisdavies/

About the Host:

Mike's extensive expertise in the insurance sector has allowed him to witness and adapt to the dynamic shifts within the industry. Throughout his 40 year career, he has navigated the traditional realms of insurers, brokers, and MGAs (Managing General Agents) across both Commercial and Personal Lines markets.

He has held Executive positions at AXA, Midas, UK General and most recently Insurtech start up Qlaims before becoming Chief Executive Officer at the MGAA in September 2020. 

Mike is excited about the new MGAA podcast series, which aims to showcase key figures in the UK insurance industry and beyond, providing insight into the challenges and opportunities that the MGA industry encounters.

Mike's LinkedIn Profile: https://www.linkedin.com/in/michael-keating-230b8424/