Optio to Acquire Luxembourg-Based Film and Events MGA, Circles Group
Article 0 Comments Optio Group, the London-based specialty managing general agent, announced it has acquired the Luxembourg-based MGA, Circles Group for an undisclosed sum, subject to regulatory approval. The acquisition of Circles, Optio’s largest in Europe to date, represents a strategically critical development in Optio’s ongoing international expansion, with the Circles Group set to become Optio’s European headquarters. Founded in 2001, Circles specializes in contingency and special risks insurance. With over €50 million in premium, it is one of the largest insurers of cinema and live performances in Europe, insuring over 100,000 films and events to date. Circles provides a variety of solutions for TV and film production as well events, fine art, jewellery and equine insurance. Its proprietary distribution technology, used to connect and maintain relationships with its network of brokers worldwide, has helped Circles to grow organically into new markets, establishing a presence in Hong Kong, Singapore and Brazil. The acquisition of Circles will broaden Optio’s product portfolio and provides an important strategic foothold that will continue to drive growth and further acquisitions across Europe, as part of Optio’s hub and spoke expansion model, Optio said, noting that all staff will remain and the founder and CEO Olivier...