Optio Re MENA Ltd., the Dubai-based operation of specialty MGA Optio Group, recently celebrated its first year of trading since obtaining all necessary regulatory approvals in early 2023. The venture, which focuses on A&H and comprises an MGA and a reinsurance broker, has been well-received and has been able to meet demand in a rapidly maturing market.

Chief underwriting officer, A&H, Moayyad Abu Hayyeh said:

“We’ve been able to address the need for high-quality capacity and have received great feedback from the market, confirming that our approach to A&H underwriting is the right one. Our turnaround times, with quotations often one working day or sooner and claims approval often much faster than that from our 24/7 claims service, have been praised by clients who appreciate that we are based in their region and on the same time zone.”

While the operation aims to continue its organic growth trajectory, it remains open to strategic acquisitions of teams or whole businesses that align with its goals. In line with these expansion plans, senior appointments in both the claims and client relationship management departments are actively being pursued to continue delivering exceptional service. The team has already expanded from three to 13 members, requiring a move to a larger office. This was originally an aim after three years so in that respect Optio Re MENA has achieved its three-year business plan in less than half the time.

Optio Re MENA Ltd. Chief executive officer Dr Ahmed Ramadan said:

“What a year it’s been, we could not be prouder of what we have built so far. We’ve managed to surpass our expectations, are steadily building our reputation and book of business and have a solid, growing team in place. Inevitably we faced challenges being a new proposition but have worked hard to earn trust and are building a reputation in the market as a serious player that offers excellent service. Some exciting plans are taking shape for the next phase and we look forward to sharing those with the market in due course.”