Optio enters specialty marine market with senior hire

London-based MGA Optio Group has entered the specialty marine market with a senior hire who previously led Castel Underwriting Agencies and gained underwriting experience at Barbican Insurance Group. The move is a part of its strategy to accelerate growth and enhance its specialty capability.

Optio's new marine specialty practice will be led and developed by Angus Bailey with an initial focus on marine war and kidnap and ransom risks (K&R).

Bailey previously led Seacurus, a trading name of Castel Underwriting Agencies, where he developed specialised solutions and coverages for the marine market, including a combined facility for hull war & kidnap & ransom as well as cover for Seafarer Abandonment. Prior to that, he served as an underwriter at Barbican, specialising in K&R, hull war and Seafarer Abandonment.

Paul Western, Optio's group chief underwriting officer, said: “I am extremely pleased to welcome Angus to Optio, whose appointment further builds upon our specialty market offering, and is indicative of the wealth of opportunities we see in this area.

"Angus is an established and well-regarded underwriter, with an impressive background in the marine specialty space. His experience in offering innovative solutions to niche risks, coupled with his use of technology to provide clients with fast, efficient and accessible protection, makes him an ideal addition to our ever-expanding team.”

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