UK insurance firm Optio Group has announced the acquisition of Brockwell Capital, a warranty and indemnity managing general agent (MGA).

The acquisition of MGA, an approved Lloyd’s cover holder, enhances Optio’s transactional liability capabilities and complements its existing warranty and indemnity offerings.

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Additionally, Brockwell brings expertise in aspects of tax liability and contingent liability and financial lines.

Established in 2017, Brockwell writes $40m in gross written premiums.

Brockwell has built its clients base in the UK, Nordic regions and Australasia with an expanding presence in Continental Europe.

Brockwell is backed by several markets at Lloyd’s.

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Optio will retain all eight Brockwell employees who are led by M&A underwriter Andrew Graham.

Optio Group executive chairman Matthew Fosh said: “I am delighted to welcome Andrew and the Brockwell team to our expanding business. Combining their experience and expertise with our established W&I capabilities within the Group confirms financial lines as a core underwriting pillar for Optio.”

Graham said: “From the outset, Brockwell focused on creating an unmatched, speciality MGA, built around sophisticated M&A, tax and transactional risk professionals. Optio’s support and technological capabilities will be enormously beneficial to the implementation of our ambitious growth plans, and we look forward to working with our new colleagues to develop innovative solutions for new and existing clients.”

The financial details of the deal were not disclosed.

In April 2021, Optio Group took over nuclear risk specialist Northcourt for an undisclosed sum.