Managing general agents (MGAs) Nirvana and Pulse have completed their planned merger following regulatory approval from the Financial Conduct Authority (FCA).
Financial terms of the deal were not disclosed.
The merger creates a specialty MGA platform operating across media, technology and cyber, accident and health, non-standard life, and sports lines of business.
The combined group employs around 40 staff across offices in London, Norwich, Brackley in the UK, and Barcelona, Brussels, and Zug in Switzerland.
The firms also confirmed that neither business plans any changes to its teams as a result of the transaction, and said brokers and clients will continue to work with their usual underwriter contacts without any disruption to service.
In 2024 Pulse launched a cancer protection product featuring a lump sum payment and support services, backed by Rokstone and Reframe Cancer.
Then this September it began offering policyholders a combined screening and cancer navigation insurance product, again through Reframe Cancer.
Kabir Chanrai, chief executive officer of Nirvana, (pictured) said: “We are thrilled to have completed our merger and to be joining forces with Pulse.
“This deal makes us an even stronger home for ambitious and experienced underwriters and enhances our ability to execute on both team hires and select acquisitions.”
Torquil McLusky, managing director of Pulse, added: “We are delighted to be coming together with Nirvana and look forward to building the business. Kabir and Rob are great partners with whom we can achieve even more.”
Rob Jones, executive chairman of Nirvana, added: “This is an important step forward for Nirvana and we are delighted to be joining forces with Pulse and their talented team to create this underwriting-first specialty MGA platform in the UK and Europe.”
