By Rebecca Delaney
April 3 - (The Insurer) - Specialty MGA Nirvana is set to merge with Pulse, an MGA specialising in non-standard accident, health and life insurance.
Nirvana underwrites a global book of business across media E&O, tech E&O, cyber, and warranty and indemnity insurance.
It completed its management buy-out from formation platform Castel Underwriting Agencies in March 2023, having since obtained a Lloyd’s coverholder licence in addition to other licences that enable it to trade as an independent MGA.
The merger with Pulse marks the next phase of its strategic plan, Nirvana said.
It was confirmed that neither business has planned any changes to their teams as a result of the transaction. Brokers and clients will continue to interact with their usual underwriter contacts.
Financial terms of the transaction were not disclosed. It is subject to standard change of control processes with both the Financial Conduct Authority and the Financial Services and Markets Authority in Belgium.
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