Optio Group (“Optio”), the independent specialty MGA, today announces that it has entered into an agreement to acquire Names Europe Agencia de Suscripción, S.L. (“Names Europe”), a Madrid-based specialist marine underwriting agency, for an undisclosed sum. Completion of the transaction remains subject to applicable regulatory approvals and other closing conditions.
Names Europe is one of Spain’s established marine and transportation underwriting agencies, specialising in technically complex risks. Founded in 2008 by Manuel Ferrández, the business has developed a strong reputation in the maritime sector, supported by a highly experienced management team whose expertise includes shipping operations and specialist maritime law.
The proposed acquisition represents an important step in Optio’s continued European expansion, strengthening its marine capabilities and establishing a specialist platform in Spain. It follows the Group’s recent acquisitions, including Construction Guarantee Underwriters Limited (CGU), Gardian Marine, S Insurance and AGS Forsikring AS.
Subject to completion, Names Europe will become part of the Optio Group, with its existing management team expected to continue leading the business. The combination will provide opportunities to build on Names Europe’s established market relationships and specialist expertise, while benefiting from Optio’s broader resources, capacity relationships and international platform.
Deepak Soni, CEO of Optio Group, said:
“We are delighted to have reached this agreement and look forward to welcoming Manuel and the Names Europe team to Optio once the transaction completes.
“Names Europe has built an excellent reputation in the marine market, with deep technical expertise, strong client relationships and a highly experienced team. These are exactly the qualities we value at Optio.
“This is an important step in our European expansion and will further strengthen our marine offering. We see significant opportunities to build on what Manuel and his team have achieved, supporting their continued growth while bringing additional capabilities and value to our clients and partners.”
Manuel Ferrández, founder of Names Europe, added:
“We are very pleased to have reached this agreement with Optio. We have spent many years building Names Europe into a specialist marine underwriting business, supported by a team with extensive experience and strong relationships across the maritime sector."
“Joining Optio, subject to completion, represents an exciting opportunity for the next stage of our development. Access to greater scale, resources and support will allow us to build on our existing strengths, expand our offering and continue delivering the specialist service our clients and partners expect. We look forward to working closely with the Optio team.”