‘This transaction builds on the momentum of our ongoing strategy targeting high-quality, niche specialty MGAs globally,’ says chief executive
Optio Group has acquired professional indemnity and management liability specialist Custodian Management.
Custodian Management is an MGA that was founded in 2013 by managing director Zahid Naqvi.
Naqvi will continue to lead the business under the Optio Group umbrella and said the move represented “an exciting new chapter” for the MGA.
He added: “Over the past decade, we have built our business on underwriting discipline, adaptability, trusted broker partnerships and consistent performance.
“We are proud of what we have achieved and are confident that, with Optio Group’s scale and shared values, we can continue to grow our proposition and deliver even greater value to our partners and clients.”
Strategy
Meanwhile, Optio Group said the acquisition would enhance its professional indemnity proposition and support its wider diversification strategy.
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Deepak Soni, chief executive at Optio Group, said Custodian Management’s attributes made it a “natural strategic fit” within the growing portfolio.
“This transaction builds on the momentum of our ongoing strategy targeting high-quality, niche specialty MGAs globally, underscoring our commitment to strategic growth, underwriting excellence and client-focused propositions,” he added.
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