Specialty MGA Optio Group has acquired Luxembourg-based MGA Circles Group, the largest deal for the company in Europe to date.
The firm says the move represents a strategically critical development in Optio’s ongoing international expansion, with Circles Group set to become Optio’s European headquarters.
The acquisition of Circles will broaden Optio’s product portfolio and provide an important strategic foothold that will continue to drive growth and further acquisitions across Europe. All staff members will remain, and the founder and CEO, Olivier Héger, will continue to lead the business.
Circles Group offers insurance solutions for film, events, equine, event cancellation, jewellery, fine art, assets and financial lines.
Deepak Soni, CEO of Optio Group, comments: “This latest acquisition marks another significant step forward for our European growth strategy of acquiring entrepreneur-led, technologically advanced, innovative MGA businesses, with a strong proven track record of success. We have several acquisitions lined up supporting this strategy with more to follow.”
Olivier Héger, CEO of Circles Group, adds: “This will also significantly strengthen both companies in achieving their strategic objectives; for Optio, expansion into Europe, and for us, a deeper connection with London, the home of insurance.”
