Optio Group has announced the acquisition of Custodian Management Ltd, a UK-based managing general agent (MGA) specializing in professional indemnity and management liability. The transaction, for an undisclosed sum, is pending regulatory approval.
Founded in 2013 by Managing Director Zahid Naqvi, Custodian Management has established itself as a focused underwriter in specialist liability lines, known for its long-standing broker relationships and consistent performance for capacity providers. This acquisition is expected to enhance Optio’s capabilities in the specialist liability market.
This move comes shortly after Optio secured regulatory clearance for its acquisition of Norwegian MGA S Insurance AS in April. First announced in March, this deal added the Bergen-headquartered marine hull specialist to Optio’s international network. S Insurance underwrites marine hull business globally, with offices in both Bergen and Oslo. It has been a member of the Nordic Association of Marine Insurers (CEFOR) since 2022. Directors Gary Sangedal and Marianne Engelsen Hals will continue to lead the team within the Optio structure.
Additionally, in November, Optio finalized its acquisition of Den Hartigh Beheer & Exploitatie BV, an MGA with operations in the Netherlands and Brussels. Founded in 1916, Den Hartigh provides a diverse range of property and casualty insurance products, including land-based equipment, marine, and high-net-worth solutions. These products are distributed through brokers via a proprietary digital platform, aligning with Optio’s strategy of expanding its European footprint.
With these recent moves, Optio continues to strengthen its position as a leading international MGA, enhancing its capacity to serve niche insurance markets across Europe.
