Optio Group (Optio), an independent specialty MGA, today announces the completion of its acquisition of Norwegian-based MGA S Insurance AS (S Insurance), first announced in March, having received all necessary regulatory approvals.

The transaction is a further strategically significant step for Optio in creating a diversified buy-and-build platform through the acquisition of high-quality, niche speciality MGAs across Europe.

Headquartered in Bergen and with offices in Oslo, S Insurance specialises in marine hull, underwriting business globally with a strong presence in Europe. Optio Group will support its plans to expand both its product and geographical reach.

The acquisition, Optio’s first in Scandinavia, follows previous purchases of Netherlands and-Brussels based MGA Den Hartigh and Luxembourg-based Circles Group, and its strategic investment in Italian MGA, Heca S.r.l.