Optio Group, the London-based specialty managing general agent (MGA), announced it will launch an MGA and reinsurance broker in Dubai, subject to final approvals from the UAE regulatory authorities.
Both businesses are expected to be operational by Jan. 1, 2023, with an initial focus on accident and health. Drawing on the wider group’s specialty expertise, Optio also intends to expand into other lines such as political violence & terrorism (PVT), marine war, kidnap & ransom and financial lines available in the region in due course.
Optio has so far made two senior appointments to lead the new venture: Dr. Ahmed Ramadan will join as chief executive officer and Moayyad Abu Hayyeh as chief underwriting officer, A&H. Both join from Besso Re Middle East where they served as managing director and CUO, respectively. They will both report to David Robinson, managing director.
“The launch of Optio Dubai marks a significant step in our geographic expansion. Both Dr. Ahmed and Moayyad are experienced, highly regarded industry figures who will be outstanding additions to our business,” commented Matthew Fosh, executive chairman, Optio Group. “With clients already in the UAE, our physical presence gives us the opportunity to expand our service offering over more products and businesses across the region.”
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