Optio Group has hired Paul Tominey to be its new lead warranty and indemnity underwriter.
Specialist firm MGA said that alongside the hiring of Tominey, it was increasing the size of its W&I line for single risks from £12m to £20.5m.
The company said the two developments will strengthen its W&I proposition by meeting the growing demand for transactional liability insurance for SMEs, where M&A activity remains frenetic.
Alex Smith, Head of SME Transaction Responsibility Business for Optio, said: “Despite the Covid-related M&A crisis, the SME market has been resilient, maintaining a high level of seller and investor confidence so far. in 2020 and 2021. As a result, our offering in the SME space has gone from strength to strength and, in addition to Paul’s appointment and the increase in our queue size, other hires are expected to help meet demand. »
Previously, Tominey served as a senior partner at global law firm DLA Piper, where he primarily advised on buyout, equity-backed transactions.
Tominey’s hiring comes just over a week after the company announced it was appointing Mark Kelsey as Britain’s new chief political violence and terrorism officer. Similar to that announcement, the company said it is increasing the size of its line in this area. In this case, it was a tripling of single exposures to $150 million.