Specialty managing general agent (MGA), Optio Group has announced that it will establish an MGA and reinsurance broker in Dubai.
Both businesses are subject to final approvals from the UAE regulatory authorities.
In a press release, it states that both businesses are expected to be operational by 1 January, 2023 with an initial focus on A&H.
At the same time, Optio plans to make PVT, Marine War, K&R and Financial Lines available in the region in due course.
So fa, Optio has made two senior appointments to lead the new venture.
Dr. Ahmed Ramadan will join as Chief Executive Officer and Moayyad Abu Hayyeh as Chief Underwriting Officer, A&H, and they will both report to David Robinson, managing director.
Both join from Besso Re Middle East where they served as managing director and CUO respectively.
Matthew Fosh, executive chairman, Optio Group, commented: “The launch of Optio Dubai marks a significant step in our geographic expansion. Both Dr. Ahmed and Moayyad are experienced, highly regarded industry figures who will be outstanding additions and I am delighted to welcome them both to Optio. With clients already in the UAE, our physical presence gives us the opportunity to expand our service offering over more products and businesses across the region.”
Meanwhile, back at the start of 2022, Optio Group acquired Brockwell Capital, a Warranty & Indemnity MGA, for an undisclosed sum.
