Speciality managing general agent platform Optio Group has announced the completion of its acquisition of UK-based Custodian Management Ltd. The deal, first reported in May, has now received the requisite regulatory approvals. Optio said the acquisition would improve its professional indemnity proposition and help diversify its platform.

Optio controls around £300m of gross written premium from more than 20 different products in sectors including: professions and speciality, accident and health, transportation, surety trade credit and political violence and terrorism, and property and energy.

The deal follows others recently announced in territories including Luxembourg, Belgium, the Netherland, Norway and Italy.

Deepak Soni (pictured), CEO of Optio Group, described the acquisition as a strategic fit for Optio’s growing portfolio.