Optio Expands European Footprint with Acquisition of Circles Group

Optio Expands European Footprint with Acquisition of Circles Group

Optio Group, a UK-based specialty managing general agent (MGA), has finalized its acquisition of Circles Group, a well-established MGA headquartered in Luxembourg. This marks Optio’s most significant move in Europe to date, strengthening its presence across the continent.

Originally announced in October 2024, the deal has now been officially completed. With this strategic acquisition, Optio continues its momentum in building a portfolio of niche, tech-enabled insurance platforms in key European markets.

A Strong Player in Specialty Risks

Circles Group, founded in 2001, brings over two decades of expertise in contingency and special risks insurance. Its portfolio includes cover for film productions, live events, fine art, jewellery, and equine assets. Over the years, the group has insured more than 100,000 films and events and manages over €50 million in gross written premiums.

The company’s established broker relationships and proprietary digital platform were key attractions for Optio, aligning well with its own commitment to innovation and distribution efficiency.

Leadership Continuity and Integration

Circles Group will retain its brand identity and current leadership, including CEO Olivier Héger, who will continue to steer the business post-acquisition. All employees will remain in place, ensuring continuity for clients and partners.

According to Héger, the cultural and operational fit between the two firms is strong, offering long-term value to clients. Optio CEO Deepak Soni echoed this sentiment, describing the acquisition as a strategic step toward creating a truly pan-European MGA platform focused on high-growth specialty segments.

Part of a Broader Growth Strategy

This deal is the latest in a string of European investments by Optio, including recent acquisitions in the Netherlands, Norway, Belgium, and a stake in an Italian MGA. The addition of Circles Group positions Luxembourg as a central hub for Optio’s EU operations and provides a launchpad for further expansion in regulated markets.

With this acquisition, Optio aims to scale its specialty underwriting capabilities while reinforcing its commitment to digital transformation in insurance.

Source: reinsurancene.ws/optio-completes-acquisition-of-luxembourg-based-mga-circles-group

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