Optio Group Expands Liability Offering Through Custodian Management Acquisition
Optio Group has announced its acquisition of Custodian Management Ltd, a UK-based managing general agent (MGA) specialising in professional indemnity and management liability insurance. The deal, for an undisclosed sum, remains subject to regulatory approval.
Custodian Management, founded in 2013 by managing director Zahid Naqvi, has established itself as a focused underwriter in specialist liability lines. The firm maintains long-standing broker relationships and consistent performance for capacity providers. Optio stated that the acquisition will strengthen its existing professional indemnity offering and aligns with its broader objective to build a diversified specialty MGA platform.
Deepak Soni, CEO of Optio Group, said Custodian brings established underwriting capability, solid broker ties, and dependable capacity backing. He described the acquisition as part of Optio’s global strategy to expand into high-quality niche MGAs.
The Custodian acquisition follows regulatory clearance for other European MGAs. In April, Optio finalised its acquisition of Norwegian MGA S Insurance AS, a marine hull specialist. The transaction, first announced in March, added S Insurance to Optio’s international network. S Insurance, which underwrites marine hull business globally, operates offices in Bergen and Oslo and became a member of the Nordic Association of Marine Insurers (CEFOR) in 2022.
Optio’s recent acquisition spree also includes Den Hartigh Beheer & Exploitatie BV, an MGA with operations in the Netherlands and Brussels, which was completed in November. The transaction supports Optio’s broader strategy of expanding its European presence. Founded in 1916, Den Hartigh provides a range of property and casualty insurance products through brokers via a proprietary digital platform.
The acquisition of Custodian Management is the latest step in Optio Group’s strategy to build a diversified specialty MGA platform through targeted acquisitions of high-quality niche MGAs.
