Amsterdam-based MGA will offer warranty and indemnity, tax liability and contingent risk cover across the European Economic Area
Optio Group has launched Pinnacle Specialty Insurance, a new MGA focused on specialty and transactional risk business across continental Europe.
Headquartered in Amsterdam, Pinnacle will offer warranty and indemnity, tax liability and contingent risk insurance for transactions and risks across the European Economic Area.
The business is backed by AM Best A- rated capacity, Optio observed.
Pinnacle will provide limits of up to €20m for warranty and indemnity and tax liability insurance, and up to €10m for contingent risk cover.
Optio said the launch expands its existing warranty and indemnity and tax insurance capabilities in Europe, with a dedicated team positioned closer to brokers, deal teams and advisers in the markets it serves.
The business is led by Paul Schouten, Andreas Jevtic and Arthur Molijn.
Together, the three bring more than 30 years of experience across transactional insurance, tax, litigation and mergers and acquisitions, including roles at insurers, global brokers, a Big Four firm and international law firms.
Gary Head, chief underwriting officer of Optio Group, said: “The launch of Pinnacle represents an exciting expansion of our existing capabilities in the transactional risk market, and a natural extension of Optio’s strategy to support market-leading specialist underwriting businesses in attractive niche markets.
“Paul, Andreas and Arthur bring an exceptional combination of insurance, legal, tax and transaction experience, and are ideally placed to build a leading proposition in this sophisticated class of business.
“We look forward to supporting the team as they grow,” he added.
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