Managing general agents (MGA) Nirvana and Pulse have finalised their merger after receiving regulatory approval from the Financial Conduct Authority (FCA).
The transaction brings together the two MGAs to form a specialty platform with capabilities in media, technology & cyber, accident & health, non-standard life, and sports lines.
The merger unites two complementary underwriting portfolios. Pulse is known for non-standard accident, health, and life insurance, serving clients who do not fit conventional underwriting criteria.
Nirvana, on the other hand, has established itself in media, technology errors & omissions (E&O), cyber, and warranty and indemnity (W&I) insurance, with a significant presence in the London market and across Europe. The combined group now employs around 40 staff across offices in London, Norwich, Brackley, Barcelona, Brussels, and Zug.
The merger follows recent developments at both firms. Pulse has expanded its product suite with the launch of “County Medical” under its Pulse Clarity unit, a policy designed to cover specific surgical procedures scheduled within the NHS. This product includes diagnostics, hospitalisation, consultations, and post-operative care.
Nirvana has also been investing in its European operations, recently appointing Francesco Giovanni Spoto as cyber & technology underwriting manager for Europe. Based in Barcelona, Spoto is responsible for leading the firm’s expansion into European cyber and technology markets.
Kabir Chanrai (pictured above, left), chief executive officer of Nirvana, commented, “We are thrilled to have completed our merger and to be joining forces with Pulse.” He said the deal enhances the group’s ability to attract experienced underwriters and pursue further team hires and acquisitions.
Pulse managing director Torquil McLusky (pictured above, right) said, “We are delighted to be coming together with Nirvana and look forward to building the business.” He added that working with Kabir and Rob would enable the group to achieve more.
The companies confirmed that there are no planned changes to their teams as a result of the merger. Brokers and clients will continue to interact with their existing underwriter contacts, with no disruption to service. Financial details of the transaction have not been disclosed.
