Nirvana, the leading Media, Tech and Cyber Managing General Agent (MGA), has launched its new European SME W&I binder. The team has a total available line size of €20m, in partnership with a handful of top Lloyd’s syndicates, and aims to meet the needs of an underserved local market.
The team is led by Thomas Mannsdorfer in Barcelona, focussing on local products in local languages as well as English, built upon strong relationships and first class service to regional and global brokers. He is supported by two underwriters with corporate legal and insurance experience, Eloi Nuñez-Romero and Isaure Maltonti, who have joined to help build the business.
With a highly personalised service, the team will be providing specific solutions to the European SME sector that includes well-established companies and family enterprises as well as innovative new undertakings.
Thomas has more than 20 years’ experience as a mergers and acquisitions (M&A) underwriter across European markets, and as one of the first practitioners in this area, is a leader in his field. Prior to joining Nirvana, Mr. Mannsdorfer, a qualified lawyer, headed up European Specialty underwriting at Sompo International. He also led Sompo’s Barcelona branch and underwriting hub. He previously served as Director of M&A Insurance and Chief Underwriting Officer (International) with ANV in Barcelona.
“I am delighted to be launching our product with our Lloyd’s partners,” said Thomas. “The market is expected to return to normal levels of deal activity over the coming months, and we are poised to grow a profitable book of business providing protection for entrepreneurs and investors involved in European M&A deals.”
Eloi Nuñez-Romero joins from Eversheds Sutherland, where he specialised in M&A, and Isaure Maltonti from Tokio Marine Europe, where she was a Financial Lines underwriter.
Kabir Chanrai, CEO of Nirvana, added: “We are delighted to be launching our European W&I business with Thomas, and see a significant opportunity to provide a great product to our brokers and clients from our hub in Barcelona.”
Rob Jones, who has 25 years of underwriting expertise in the London and global markets, formed Nirvana Risk Partners in 2017 as a division of the Castel Underwriting Agencies MGA formation platform. In March 2023, he and Kabir Chanrai - an insurance-focussed private equity entrepreneur – purchased Nirvana from Castel in a management buyout and launched the platform.
Nirvana was advised by Acrisure Re, who put together the panel of insurers for the new W&I binder.