Specialty managing general agent platform Optio Group has acquired managing general agent Custodian Management Ltd, which was founded in 2013 by managing director Zahid Naqvi and has a focus on providing professional indemnity and management liability cover. Optio said the deal advanced its ambition to create a diversified platform.

Deepak Soni (pictured), CEO of Optio Group, said: “Custodian’s established underwriting expertise, strong broker relationships and robust capacity support make it a natural strategic fit within Optio’s growing portfolio.

“This transaction builds on the momentum of our ongoing strategy targeting high-quality, niche specialty MGAs globally, underscoring our commitment to strategic growth, underwriting excellence and client-focused solutions.”

Naqvi added: “Joining forces with Optio marks an exciting new chapter for Custodian. Over the past decade, we have built our business on underwriting discipline, adaptability, trusted broker partnerships and consistent performance.

“We are proud of what we have achieved and are confident that, with Optio’s scale and shared values, we can continue to grow our proposition and deliver even greater value to our partners and clients.”