Optio Group, a leading independent specialty MGA platform, today announces it has acquired UK-based MGA Custodian Management Ltd. for an undisclosed sum, subject to regulatory approval.
Founded in 2013 by managing director Zahid Naqvi, Custodian Management Ltd. has grown to become a respected and successful professional indemnity (PI) and management liability specialist. With a clear focus on underwriting profitability, the company has navigated market cycles with confidence and resilience, consistently delivering strong results for its capacity providers.
The transaction will enhance Optio’s existing PI proposition and is a further significant step in its ambition to create a diversified platform.
Deepak Soni, CEO of Optio Group, commented: "Custodian’s established underwriting expertise, strong broker relationships and robust capacity support make it a natural strategic fit within Optio’s 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 solutions.”
Gary Head, CUO of Optio Group, said: “Zahid and the team are an outstanding fit for Optio, having consistently delivered sustainable profits for their insurer partners in a specialised area of the market. They combine first class broker service with responsive, flexible and profitable underwriting. We very much look forward to welcoming them onboard.”
Zahid Naqvi added: “Joining forces with Optio marks an exciting new chapter for Custodian. 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’s scale and shared values, we can continue to grow our proposition and deliver even greater value to our partners and clients.”
In addition to its strategic investment in Italian MGA, Heca S.r.l., previous Optio acquisitions include: Norwegian-based MGA S Insurance AS, Netherlands and-Brussels based MGA Den Hartigh and Luxembourg-based Circles Group (pending regulatory approval).
Insurance Advisory Partners (IAP) acted as the exclusive financial advisor for Optio on this transaction.