OPTIO GROUP LIMITED

1. OPTIO GROUP LIMITED 2019-09-18 → present
2. LEO BIDCO LIMITED 2017-10-25 → 2019-09-18

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.”

Group structure

1. OPTIO GROUP LIMITED · parent
   1. Ascent Underwriting LLP 99.07% · UK · Insurance Underwriting
   2. Optio Group Services Limited 100% · UK · Service Company
   3. Optio Europe Holding Ltd 100% · Malta · Holding Company
   4. Badger Bidco Limited 100% · UK · Holding Company
   5. Anchor Bidco Limited 100% · UK · Holding Company
   6. Optio Europe S.à r.l. 100% · Luxembourg · Holding Company
   7. Optio Italy S.R.L. 100% · Italy · Holding Company
   8. Den Hartigh Beheer & Exploitatie B.V. 100% · Netherlands · Holding Company
   9. Optio Underwriting Limited 100% · UK · Managing Geberal Agent
   10. Optio Risk Services Limited 100% · UK · Lloyd's Insurance Broker
   11. Cove Program Insurance Services LLC 100% · USA · Broker Insurance Services
   12. Brockwell Capital Limited 100% · UK · Warranty & Indemnity MGA
   13. GPS Malta Limited 100% · Malta · Holding Company
   14. Northcourt Limited 100% · Malta · Nuclear Risk Underwriters
   15. Optio Re MENA Limited 100% · UAE · Broker Insurance Services
   16. Optio Europe Brokers Ltd 100% · Malta · Insurance Intermediary
   17. Optio Group Holdings (Nederlands) B.V. 100% · Netherlands · Holding Company
   18. Den Hartigh Holding N.V. 100% · Belgium · Holding Company
   19. Den Hartigh International Insurance B.V. 100% · Netherlands · Land based Equipment MGA
   20. Den Hartigh Adviesgroep B.V. 100% · Netherlands · Land Based Equipment MGA Advisory
   21. Den Hartigh Serviceproviding B.V. 100% · Netherlands · Service Company
   22. Industrial Insurance Group Belgium N.V. 100% · 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 and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

14

last 12 months

Capital events

5

last 24 months

Officers appointed

0

last 12 months

Officers resigned

0

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.