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Managing agent

Capital requirements

A managing agent must have, at all times minimum qualifying capital of £400,000, however the managing agent must also keep to a minimum net asset requirement.

This is based on the volume of business written by the syndicate(s) the managing agent manages, and a multiple of the normal operating expenses.

The managing agent will need to show – with the help of appropriate financial forecasts – that it will be able to maintain these requirements at all times.

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