New specialty MGA Nirvana secures Pro Global backing to expand

Newly launched specialty managing general agent (MGA) with A+ rated Lloyd’s and companies market capacity,  Nirvana Risk Partners, has unveiled an incubation partnership with Pro MGA Global Solutions to fuel its expansion.

The London-based specialty MGA Nirvana is led by CEO Kabir Chanrai (pictured right) and executive chairman Rob Jones (pictured left), together with recently hired head of Europe Thomas Mannsdorfer and experienced sector underwriter Glenn Crickmar.

The business was established in 2017 as part of Castel Underwriting agencies. The new incubation partnership with Pro MGA Global follows Nirvana’s management-led buyout (MBO) from Castel in March 2023.

Nirvana’s insurance portfolio encompasses media liability; film and television liability; technology liability; and cyber liability developed for all sizes of business from SMEs to larger corporates. The company has ambitious plans to grow into a diversified service- and underwriting-first MGA through hires and acquisitions of existing MGAs.

Pro MGA Global Solutions will provide regulatory, operational and technical support to help the team at Nirvana target organic and inorganic growth to fuel its expansion.

Chanrai said: “Nirvana’s goal is to deliver insurance solutions that span the full risk spectrum, and as we move onto the next phase of our growth, we are focused on expanding the innovative global package of media and technology liability products we have developed through both organic and inorganic channels.

“Following the buyout, we are looking for a seamless transition to an independent MGA, and we are very pleased to be partnering with Danny and team, who I’m confident will apply their leading technical expertise to continue to enable the global vision of our business.

"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 focused on pursuing our long-term growth strategy and delivering valuable solutions to our clients.”

Danny Maleary, CEO of Pro MGA Global Solutions, added: “It’s a pleasure to work with the entrepreneurial Nirvana team who have so successfully built out the business focusing on innovative and profitable cyber, media and technology liability products.

"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. 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. This will empower the high caliber 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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