Optio
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New Nuclear is currently raising capacity, with an eye to launch in 2026. -
Neil Ross was also appointed CUO for the broker’s MGA.
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Small modular reactors are increasingly viewed as a means of meeting surging energy demand.
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It said the loss did not reflect the underlying economic performance of the business.
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The specialty MGA has been pursuing an M&A strategy in recent months.
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The specialty MGA is being watched closely by PE houses for signs of movement on a sale.
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The executive said that the fragmentation of the European market has proved a barrier to entry in the past.
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The underwriter will manage and develop the MGA’s professional indemnity portfolio.
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He will be responsible for originating European acquisitions as part of the MGA’s global expansion plans.
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The political violence market has seen a flurry of new entrants in recent months.
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The MGA aims to capitalise on the growth and maturation of the continental MGA sector.
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The MGA was without backing since March 2023, after Markel and Chaucer pulled their PVT paper.
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The incoming A&H head brings over 22 years' underwriting experience.
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The underwriter will be reunited with former colleague and current head of terrorism, political violence and war, Andy Bauckham.
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The specialty MGA cited the recent contraction in the reinsurance treaty market as a reason for its loss of capacity but said it was in advanced discussions with other providers.
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The appointment comes one year after David Robinson joined the firm in March 2022 as managing director.
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Victoria Barrett will be responsible for building Optio’s financial lines proposition.
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Tom Kennett was previously senior political violence underwriter at Munich Re and before that a political violence broker for several years.
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Mark Butler will help Northcourt, Optio’s nuclear risk subsidiary, to raise its profile within government and the nuclear sector.
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The group has hired two senior executives from Besso Re Middle East to run the operation.
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The moves build out the MGA's W&I capabilities following the acquisition of W&I-focused MGA Brockwell Capital earlier this month.
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Paul Western joined the business when the MGA group was in the early stages of formation in 2019.
