Optio Group (Optio), the independent specialty MGA, today announces the acquisition of Norwegian specialty MGA SAFE Forsikring (SAFE), for an undisclosed sum. The acquisition strengthens Optio’s presence in the Nordic region and further advances its European footprint, adding a specialised aquaculture underwriting business with a strong track record of profitability and growth. SAFE will become part of Optio’s established Norwegian platform alongside S Insurance and AGS Forsikring.
Founded in 2012 and headquartered in Oslo, SAFE is a founder-led specialty MGA established by Thore Amundsen and Espen Stange with a well-established carrier infrastructure. The business operates delegated binding authorities and places specialty risks with top rated security.
The business has developed deep technical underwriting expertise in aquaculture, supported by its founders’ marine & energy and aquaculture backgrounds and strong industry relationships. SAFE currently underwrites across aquaculture, energy offshore and marine, and has developed a leading position within the aquaculture insurance market serving many of the sector’s largest operators across Norway and internationally.
Deepak Soni, chief executive officer of Optio Group, said: “We are delighted to welcome SAFE Forsikring to Optio. Thore, Espen and their team have built a truly specialist underwriting business with an outstanding reputation in the aquaculture market, underpinned by deep technical expertise, strong client relationships and consistent underwriting performance. We look forward to working with the SAFE team as they continue to develop their market-leading proposition”
Thore Amundsen, managing director and co-founder of SAFE Forsikring, said: “Joining the Optio family marks an exciting new chapter for SAFE. From our first discussions, it was clear that both businesses share a common commitment to specialist underwriting, strong broker and client relationships and a long-term approach to growth. Becoming a part of Optio will provide us with greater resources and broader market access to pursue the many opportunities we see within our markets. We are excited to continue leading the business and work alongside the wider Optio team to build on the strong foundations we have created over the past decade”