Optio acquires warranty & indemnity specialty MGA Brockwell
Optio Group has acquired Brockwell Capital, a warranty & indemnity MGA, for an undisclosed sum.
Optio Group is a specialty MGA focused on emerging insurance risks bringing together technology and market leading underwriting capabilities.
Brockwell, an approved Lloyd’s coverholder, adds to the group’s transactional liability capabilities and complements Optio’s existing W&I proposition. In addition, the acquisition brings expertise in the fields of tax liability and contingent liability and financial lines.
Brockwell writes c. $40 million gross written premiums and is expected to continue its strong growth. All eight Brockwell staff, headed by leading M&A underwriter Andrew Graham, will join Optio. Brockwell is supported by a number of markets at Lloyd’s and in the company market, several of which are new to Optio.
Matthew Fosh (pictured), executive chairman, Optio Group said: “I am delighted to welcome Andrew and the Brockwell team to our expanding business. Combining their experience and expertise with our established W&I capabilities within the Group confirms financial lines as a core underwriting pillar for Optio.”
Andrew Graham said: “From the outset, Brockwell focused on creating an unmatched, specialty MGA, built around sophisticated M&A, tax and transactional risk professionals. Optio’s support and technological capabilities will be enormously beneficial to the implementation of our ambitious growth plans, and we look forward to working with our new colleagues to develop innovative solutions for new and existing clients.”
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