Optio Group, the specialty MGA, today announces it has promoted Mark Kelsey to UK head of political violence and terrorism (PVT) and tripled its line size for single risks to USD150m.
As part of a range of developments to meet heightened PVT demand in Western Europe and North America, Optio has also increased its single-risk line size for active assailant and workplace violence to USD15m, following a significant increase in civil disturbance, riots and active shooter events.
Kelsey, who joined Optio as senior underwriter in 2020, will report to Chris Kirby, global head of political violence and terrorism, who relocated in September to establish Optio’s PVT underwriting capabilities in the US. Optio’s portfolio has since experienced significant growth and with that its appetite for PVT risks has expanded to include excess of loss cover, with multi-year coverage now also available to clients worldwide.
Kirby said: “I’m extremely pleased to welcome Mark to his new role where he will be an even greater asset as Optio pursues its strategic growth ambitions. After establishing a physical presence for PVT underwriting in the US last year, the combined effect of that plus the general increase in civil unrest has created a surge in demand. The developments announced today are part of range of measures designed to meet that demand and to support brokers and insureds facing considerable challenges posed by the dynamic and fast-changing PVT risk environment.”
Matthew Fosh, executive chairman, Optio Group said: “The material enlargement of our PVT book, together with the recent acquisitions of Northcourt and Brockwell Capital, have advanced Optio’s growth strategy across a suite of core specialty lines. We are delighted at the team’s success in re-engineering our PVT proposition, having recently expanded our PVT presence into the US specifically to meet growing market demand.”