Optio Group, a leading independent specialty MGA platform, today announces the completion of its acquisition of UK-based MGA Custodian Management Ltd., first announced in May, having received all necessary regulatory approvals.

The transaction further enhances Optio’s existing PI proposition and is a significant step in its ambition to create a diversified platform.

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.

The acquisition follows previous purchases of Netherlands and-Brussels based MGA Den Hartigh, Luxembourg-based Circles Group and Norwegian-based S Insurance, and a strategic investment in Italian MGA, Heca S.r.l.