Optio sets up Dubai MGA and reinsurance broker with Besso hires

Specialty managing general agent (MGA)  Optio Group plans to establish a new MGA and reinsurance broker in Dubai as part of its international expansion, subject to final approvals from the UAE regulatory authorities.

Both businesses are expected to be operational by January 2023, with an initial focus on accident and health (A&H).

Drawing on the wider Group’s specialty expertise, Optio also intends to launch political violence and terrorism (PVT), marine war, kidnap and ransom (K&R) and financial lines in the region in due course.

Optio has made two senior appointments to lead the new venture: Ahmed Ramadan will join as chief executive officer and Moayyad Abu Hayyeh as chief underwriting officer, A&H, and they will report to David Robinson, managing director.

Both executives join from Besso Re Middle East where they served as managing director and CUO, respectively.

Matthew Fosh, executive chairman, Optio group said: “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. 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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