Specialty managing general agent Nirvana Risk Partners, which completed its management buyout from Castel Underwriting Agencies in March, has now entered into an incubation partnership with Pro MGA Global Solutions.
“Following the buyout, we are looking for a seamless transition to an independent MGA, and we are very pleased to be partnering with Danny [Maleary] and team, who I’m confident will apply their leading technical expertise to continue to enable the global vision of our business,” shared Nirvana chief executive Kabir Chanrai in a release.
“This is a very exciting time to be launching Nirvana independently, and I’m looking forward to driving ahead with our underwriting-first and service-first mindset. With Pro MGA Global Solutions’ expert support, we can stay focussed on pursuing our long-term growth strategy and delivering valuable solutions to our clients.”
Founded in 2017 by executive chairman Rob Jones, Nirvana specialises in media and technology insurance. Chanrai and Jones are supported by Nirvana’s newly hired head of Europe Thomas Mannsdorfer and sector underwriter Glenn Crickmar.
Commenting on the deal, Pro MGA Global Solutions CEO Danny Maleary (pictured) said: “It’s a pleasure to work with the entrepreneurial Nirvana team who have so successfully built out the business focussing on innovative and profitable cyber, media, and technology liability products.
“Here at Pro MGA Global Solutions, we have extensive experience of the Lloyd’s and London company markets across a wide range of disciplines in brokers, service providers, and insurers, as well as highly relevant experience in the MGA arena across the companies market and international platforms.”
Pro MGA Global Solutions is the independent MGA incubation division of Pro Global Holdings.
“I’m looking forward to bringing the full strength of our network to bear to support the strong growth that is on the horizon for Nirvana in a sustainable way by providing a platform with full regulatory oversight and operational support,” added Maleary.
“This will empower the high-calibre Nirvana team to focus on what they do best: developing innovative products that help solve real-world challenges for their clients.”
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