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Optio Group is comprised of Ascent Underwriting (the cyber and specialty lines MGA), Cove Programs (a US construction-focused MGA) and broker Bay Risk Services. Initially known as Ascent-Cove, it rebranded under Optio in September 2019. It is one of the largest independently-owned specialty MGA groups, and creates new products, services and solutions.
Optio has a range of specialty-focused products, including but not limited to Cyber, Construction, Healthcare and Professional Indemnity. It covers numerous territories, including the US, Europe and Australia. The company also has a broad range of partners, including Hiscox and CyberScout.
In November 2019 Optio launched a political risk proposition for foreign direct investors in high-risk markets. The product also provides crisis management and support services in partnership with Control Risks. The service aims to contain losses by actively preventing situations, such as blockades or illegal occupations, from becoming an unstoppable event. The product is powered by Hiscox, with other syndicates also taking part.
In January 2020 Optio Group acquired Newbridge Risk Partners from Castel Underwriting Agencies for an undisclosed amount. Newbridge Risk Partners specialism lies in terrorism cover and writing political violence in emerging markets.
In July 2020 Optio launched a personal accident and health division.
Optio is based in London, UK, and has a team of around 80.