Optio Group, the specialty MGA, today announces that its recently established Dubai-based operation, Optio Re MENA Ltd., has begun trading after receiving all necessary approvals from UAE regulatory authorities.
The operation, which will focus on A&H, comprises an MGA and an A&H reinsurance broker. Drawing on the wider group’s specialty expertise, the MGA will broaden in time to include PVT, Marine War, K&R and Financial Lines. The new venture will be led by chief executive officer Dr Ahmed Ramadan and chief underwriting officer, A&H, Moayyad Abu Hayyeh.
Matthew Fosh, executive chairman, Optio group said:
“I am delighted to announce that our Dubai operations are now fully licensed and trading. This marks a significant step in our geographic expansion and will enable us to extend our service offering to new and existing clients across the MENA region.”
Ramadan said:
“Demand for medical, PA and related cover is growing in the rapidly maturing MENA A&H market, meaning there is a need for additional high-quality capacity in general and even more so in some niche areas. In establishing a physical presence, Optio, which already has clients across the region, is in an even stronger position to meet that demand.”