Optio Group Strengthens European Presence with S Insurance Acquisition
Optio Group, an independent specialty Managing General Agent (MGA), has announced the acquisition of Norway-based S Insurance, pending regulatory approval.
This acquisition marks a significant step in Optio’s broader strategy to establish a diversified platform through the acquisition of high-quality, niche specialty MGAs across Europe. This move follows the strategic acquisition of Luxembourg-based MGA Circles Group last year.
S Insurance specializes in marine hull insurance, underwriting business globally. It holds a strong market position in Europe and has ambitious plans to expand both its product offerings and geographic reach.
Deepak Soni, CEO of Optio Group, stated, “S Insurance exemplifies the type of MGAs we aim to invest in or acquire. Their entrepreneurial leadership, proven specialty capabilities, and aligned cultures and values are impressive.”
Gary Sangedal, director at S Insurance, commented, “Joining Optio is an exciting opportunity that will support us in executing our underwriting strategy and maintaining our dedicated service to brokers and clients. Optio offers us access to a broader range of expertise and the resources of a larger group, opening significant opportunities to expand our product offerings and geographical footprint.”
