Specialty managing general agent (MGA) Optio Group has completed its investment in Italian MGA Heca as part of its European expansion.
Financial terms of the deal remain undisclosed.
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Announced in October this year, the deal closed after receipt of regulatory approval.
Heca, established in 2010 in Ortona, Abruzzo, provides professional liability and surety solutions. The business became a Lloyd’s coverholder in 2018.
Heca’s unique selling proposition is its customer relationship management platform, which is designed for brokers and intermediaries.
In addition to its CRM platform, the company offers a blockchain policy verification service, enhancing transparency and trust in surety transactions.
Optio noted that the synergy between Heca’s technological edge and Optio’s existing capabilities is expected to create new opportunities for both entities.
In recent times, Optio has been solidifying its European market presence through various acquisitions.
Last month, the company acquired Netherlands and Brussels-based MGA Den Hartigh Beheer & Exploitatie.
Den Hartigh provides an array of property and casualty insurance products, with a primary focus on land-based equipment, marine and high-net-worth coverage solutions.
In October, Optio expanded its reach by acquiring Circles Group, a company focusing on special risks and contingency insurance solutions.
Based in Luxembourg, Circles Group is a prominent player in the insurance sector for cinema and live performances, with more than €50m ($55.16m) in premiums generated. The company also provides cover for equine, events, fine art and jewellery.
