UAE: Optio Group's Dubai operations fully licensed and trading
Source: Middle East Insurance Review | Mar 2023
Specialty MGA, Optio Group, said that its recently established Dubai-based operation, Optio Re MENA, has begun trading after receiving all necessary approvals from the UAE regulatory authorities.
Optio group executive chairman Matthew Fosh said in a statement, “This marks a significant step in our geographic expansion and will enable us to extend our service offering to new and existing clients across the MENA region.”
The operation, which will focus on accident and health (A&H), comprises an MGA and an A&H reinsurance broker. Drawing on the wider group’s specialty expertise, the MGA will broaden in time to include political violence and terrorism, marine war, kidnap and ransom and financial Lines.
The new venture is led by CEO Ahmed Ramadan and chief underwriting officer, A&H, Moayyad Abu Hayyeh.
Dr Ramadan said, “Demand for medical, PA and related cover is growing in the rapidly maturing MENA A&H market, meaning there is a need for additional high-quality capacity in general and even more so in some niche areas. In establishing a physical presence, Optio, which already has clients across the region, is in an even stronger position to meet that demand.”
Optio Group is a specialty MGA focused on emerging insurance risks bringing together technology and market leading underwriting capabilities. M