Optio Group, the independent specialty MGA, has acquired Norwegian specialty MGA SAFE Forsikring (SAFE) for an undisclosed sum.
SAFE joins Optio's Norwegian platform alongside S Insurance and AGS Forsikring. According to Optio, the deal strengthens its presence in the Nordic region and advances its European footprint.
Founded in 2012 by Thore Amundsen and Espen Stange and headquartered in Oslo, SAFE operates delegated binding authorities and places specialty risks with top rated security. It underwrites across aquaculture, energy offshore, and marine, and has a leading position in aquaculture insurance, serving many of the sector's largest operators across Norway and internationally, according to the release. Optio described SAFE as having a strong track record of profitability and growth.
"We are delighted to welcome SAFE Forsikring to Optio. Thore, Espen and their team have built a truly specialist underwriting business with an outstanding reputation in the aquaculture market, underpinned by deep technical expertise, strong client relationships and consistent underwriting performance. We look forward to working with the SAFE team as they continue to develop their market-leading proposition," said Deepak Soni, chief executive officer of Optio Group.
"Joining the Optio family marks an exciting new chapter for SAFE. From our first discussions, it was clear that both businesses share a common commitment to specialist underwriting, strong broker and client relationships and a long-term approach to growth. Becoming a part of Optio will provide us with greater resources and broader market access to pursue the many opportunities we see within our markets. We are excited to continue leading the business and work alongside the wider Optio team to build on the strong foundations we have created over the past decade," said Thore Amundsen, managing director and co-founder of SAFE Forsikring.
Optio Group is an independent specialty MGA based in London. The financial terms of the acquisition were not disclosed, and no figures for SAFE's premium were given.
