Insurance veteran Fosh returns to market as Optio executive chairman

Optio Group, which comprises MGAs Ascent Underwriting, Cove, and broker Bay Risk, has appointed insurance veteran Matthew Fosh as executive chairman.

The appointment marks Fosh’s return to the insurance market in an executive capacity after stepping down from his executive role at AXIS in December 2019. Fosh was the chief executive officer of Novae Group until its acquisition by AXIS in 2017.

Optio said it had been looking for a prominent market figure to help drive its ambitious growth plans.

The company's current executive chairman David Umbers will remain non-executive director, working closely with Matthew.

Kevin Hastings, chief executive of Optio, said: “I am clearly delighted that Matthew has chosen to join us. We have built a market-leading, technology-driven underwriting business relentlessly focused on delivering profits to our capital providers. We are hugely ambitious for the business and the opportunity for our long-term growth has never been greater.

"Matthew’s involvement is a major step as we develop our growth plans and I look forward to working with him. We are also delighted that David Umbers will be staying on the board. His contribution to the group is hard to overstate, and we are extremely pleased we will continue to benefit from his wise counsel.”

Fosh said: “I am extremely excited to be joining Optio to help address the enormous market opportunity enjoyed by the group. Optio has an exceptionally talented team and I am delighted to part of it.”