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Optio acquires Newbridge Risk Partners

Optio acquired specialist political violence and terrorism managing general agent Newbridge Risk Partners.

Financial terms of the deal were not disclosed. Chris Kirby and Henry Buchanan from the Newbridge team will join Optio with immediate effect.

Optio is a managing general agent comprising Ascent Underwriting LLP, Cove Programs Insurance Services LLC and broker Bay Risk Services Ltd., which merged in September 2018.

Newbridge launched on Castel Underwriting Agencies Ltd.'s MGA formation platform in 2015.