OPTIO GROUP LIMITED

Company number

11032254

Status

Active

Incorporation

2017-10-25

Last accounts made up

2024-12-31

Account category

GROUP

Primary SIC

66190

Hubs

UK Fintech

Accounting basis

FRS 102

Reporting scope

Consolidated (group)

Auditor

PKF Littlejohn LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“The Directors of the Group confirm that they have a reasonable expectation that Optio has adequate resources to continue in operational existence for at least 12 months from the date of signing the FY24 financial statements and beyond this horizon. This confirmation is made after having reviewed assumptions about future trading performance, cashflow, and debt servicing requirements, as well as areas of risk and exposure that management believes can be mitigated and managed.”

Subsidiaries

• Ascent Underwriting LLP · 99.07% held · UK · Insurance Underwriting
• Optio Group Services Limited · 100% held · UK · Service Company
• Optio Europe Holding Ltd · 100% held · Malta · Holding Company
• Badger Bidco Limited · 100% held · UK · Holding Company
• Anchor Bidco Limited · 100% held · UK · Holding Company
• Optio Europe S.à r.l. · 100% held · Luxembourg · Holding Company
• Optio Italy S.R.L. · 100% held · Italy · Holding Company
• Den Hartigh Beheer & Exploitatie B.V. · 100% held · Netherlands · Holding Company
• Optio Underwriting Limited · 100% held · UK · Managing Geberal Agent
• Optio Risk Services Limited · 100% held · UK · Lloyd's Insurance Broker
• Cove Program Insurance Services LLC · 100% held · USA · Broker Insurance Services
• Brockwell Capital Limited · 100% held · UK · Warranty & Indemnity MGA
• GPS Malta Limited · 100% held · Malta · Holding Company
• Northcourt Limited · 100% held · Malta · Nuclear Risk Underwriters
• Optio Re MENA Limited · 100% held · UAE · Broker Insurance Services
• Optio Europe Brokers Ltd · 100% held · Malta · Insurance Intermediary
• Optio Group Holdings (Nederlands) B.V. · 100% held · Netherlands · Holding Company
• Den Hartigh Holding N.V. · 100% held · Belgium · Holding Company
• Den Hartigh International Insurance B.V. · 100% held · Netherlands · Land based Equipment MGA
• Den Hartigh Adviesgroep B.V. · 100% held · Netherlands · Land Based Equipment MGA Advisory
• Den Hartigh Serviceproviding B.V. · 100% held · Netherlands · Service Company
• Industrial Insurance Group Belgium N.V. · 100% held · Belgium · Land based Equipment MGA

Significant events

• “The ongoing geopolitical instability and challenging macro economic environment has created a significant impact on global insurance markets. This has both adversely effected some Optio business lines (SDI and W&I predominantly) due to slow down in global financial activity and favourably on others (Marine - War) as the Group has been able to focus on the risks that are in demand during these times. The actions taken by group continue to keep it in a strong position for future growth and to be able to capitalise as the market improves.”
• “On 3rd March 2023, Star Newco Limited was sold to AJH Newco Limited for £14,900,000, plus ascertainable deferred consideration - during the year this amounted to £7,608,087. Under the terms of the sale agreement, the Group retains it entitlement to receive commission income on business placed by Star Newco Limited.”
• “During 2024, there was a purchase of a 25% holding in the ordinary shares of Heca S.r.l. (Via Roma 42, Ortona (CH), Italy).”
• “Optio Europe S.à r.l., Optio Italy S.R.L. and Optio Group Holdings (Nederlands) B.V. were new company formations during the year.”
• “Den Hartigh Holding N.V., Den Hartigh International Insurance B.V., Den Hartigh Adviesgroep B.V., Den Hartigh Serviceproviding B.V. and Industrial Insurance Group Belgium N.V. were acquired through the acquisition of Den Hartigh Beheer & Exploitatie B.V. ("DHB") on 19 November 2024. Further details of the acquisition are detailed in note 23.”
• “On 3rd March 2023, Star Newco Limited was sold to AJH Newco Limited. Under the terms of the sale agreement, the Company is liable to repay a proportion of the sales proceeds if the performance of Star Newco Limited does not meet expectations. The provision as at 31 December 2023 represented the best estimate of the potential repayment. The provision has been utilised in full during the year ending 31 December 2024.”
• “On 19 November 2024, Optio Group Limited acquired 100% shareholding of Den Hartigh Beheer & Exploitatie B.V. ("DHB") and its subsidiaries.”
• “During February 25 and March 25, the Group issued £500,000 worth of staff loans to several employees.”
• “On 6 February 2025, the Group issued 1,916,176 ordinary shares to its Parent, Leo Intermediateco Limited to settle the equity consideration for the Den Hartigh Beheer & Exploitatie BV acquisition.”
• “On 19 February 2025, Group incorporated Optio Norway AS, an intermediate holding company in Norway as a wholly owned subsidiary of Optio Europe S.a.r. I.”
• “On 28 February 2025, the Group announced its acquisition of S Insurance, a Norwegian MGA specialising in marine hull insurance.”
• “On 14 April 2025, the Group drew down on the debt facility in preparation to fund the acquisition of S Insurance, a Norwegian MGA specialising in marine hull insurance.”

Auditor / going-concern / subsidiary information is extracted from the PDF version of the latest annual accounts and is not tagged in iXBRL. About these numbers