Optio enters Ireland with CGU acquisition

Optio Group has acquired Dublin-based Construction Guarantee Underwriters for an undisclosed sum, marking its entry into the Irish market and continuing its European expansion strategy.

Founded in 1984, CGU specializes in construction surety and performance bonds and brings over four decades of underwriting experience. The business has long-standing capacity support from Hiscox and is led by directors Kevin O’Brien and Mark Hogan, who have built a presence in Ireland’s construction sector through consistent underwriting across market cycles.

The deal adds to a string of recent acquisitions by Optio, including Gardian Marine, S Insurance, and AGS Forsikring, as the MGA expands its footprint across Europe.

Hiscox, which has supported CGU since 2000, will continue providing capacity following the transaction.

“We are thrilled to welcome Kevin, Mark and the CGU team to Optio. CGU brings deep expertise and a strong reputation within the Irish insurance market, making it a compelling addition to Optio. Their specialist focus and disciplined underwriting approach align closely with our own values, and we are excited to support the next phase of their growth as part of our platform. This acquisition strengthens Optio’s growing capabilities and demonstrates our commitment to providing exceptional service to key European markets.” – Deepak Soni, CEO, Optio Group.