Optio Acquires S Insurance to Boost European Specialty Platform
Deal News | Mar 03, 2025 | Re-Insurance News
Optio Group has acquired Norwegian-based MGA S Insurance, a firm specializing in marine hull underwriting. This acquisition is part of Optio's strategy to develop a diverse and specialized MGA platform throughout Europe, complementing earlier expansions such as acquiring MGA Den Hartigh and Circles Group, and investing in Heca S.r.l. S Insurance, with offices in Bergen and Oslo and specializing in global marine markets, will continue to operate under the leadership of Gary Sangedal and Marianne Engelsen Hals. The acquisition adds depth to Optio's marine sector offerings, benefiting from the well-established marine industry in Scandinavia. Optio CEO Deepak Soni highlights the deal's strategic importance to European growth, while S Insurance Director Sangedal expresses enthusiasm for leveraging Optio's broader resources. Regulatory approval is pending.
Sectors
- Insurance
- Marine
- Financial Services
Geography
- Norway – S Insurance is based in Norway, with offices in Bergen and Oslo, making it a key geography in the acquisition.
- Europe – The expansion and strategic focus of Optio Group is centered around building a broader European MGA platform.
Industry
- Insurance – The article is centered around the acquisition of an MGA, a key player in the insurance sector, specifically in marine hull underwriting.
- Marine – S Insurance specializes in marine hull underwriting, indicating significant relevance to the marine industry.
- Financial Services – The acquisition involves strategic investment practices common in the financial services industry.
Financials
- Undisclosed – The financial terms of the acquisition of S Insurance by Optio Group have not been disclosed.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Optio Group | Bidding Company | Company | An independent specialty MGA acquiring S Insurance as part of its European expansion strategy. |
| S Insurance | Target Company | Company | A Norwegian MGA specializing in marine hull underwriting. |
| Gary Sangedal | Director of S Insurance | Person | Founder and Director of S Insurance, continuing to lead after acquisition. |
| Marianne Engelsen Hals | Managing Director of S Insurance | Person | Managing Director at S Insurance, continuing post-acquisition. |
| Deepak Soni | CEO of Optio Group | Person | CEO of Optio Group, overseeing the acquisition of S Insurance. |