London, 22 November 2019: Optio Group, comprising MGAs Ascent Underwriting, Cove Programs and broker Bay Risk Services, triumphed at this year’s Insurance Day London Market Awards, winning the coveted MGA initiative of the year award.

The prestigious ceremony took place at the Royal Lancaster Hotel and, following a rigorous judging process, Optio was found to be the clear winner among all London-market MGAs and service providers that entered. Judges were impressed by the value created by the merger of Ascent Underwriting with Cove Programs and Bay Risk Services, which formed one of the largest independently-owned specialty MGA groups.

Kevin Hastings, CEO, Optio, said:

“I am extremely proud of this achievement, which recognises the vision of the management teams of Ascent, Cove and Bay in forming Optio, and is further recognition of the considerable talent at an individual level within the group. Optio therefore boasts huge potential, with non-existent overlap, abundant cross-selling opportunities and the use complementary markets. With smart technology and a mandate to innovate, Optio possesses the combined resources to achieve significant future growth.”