The specialty MGA is now open for business in MENA through its Dubai-based operation
Optio Group has announced that its recently established Dubai-based operation, Optio Re MENA Ltd, has begun trading after receiving all necessary approvals from UAE regulatory authorities.
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 terrorism and political violence, Marine War, K&R and Financial Lines.
The new venture will be led by chief executive officer Dr Ahmed Ramadan and chief underwriting officer, A&H, Moayyad Abu Hayyeh.
Matthew Fosh, executive chairman, Optio group said: “I am delighted to announce that our Dubai operations are now fully licensed and trading. 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.”
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.”