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Nirvana renews core Media, Technology and Cyber Binder with increased 10m Media line authority and expanded capacity Panel



London, UK, 06 June, 2024 - Nirvana, the leading Managing General Agent (MGA), has announced the renewal, effective 1st June, of its Media/Technology Errors & Omissions and Cyber (MTC) binding authority with an increased £/$/€10m Media Liability line. The renewal also adds expanded authority in Technology and Cyber lines, including new coverage for the  financial software industry.


Nirvana MTC added two more leading Lloyd’s syndicates to the panel SCOR and Argenta, taking the total number of capacity panellists to seven. “This is a great result for our portfolio, which is now entering its 8th year,” said Executive Chairman and Head of Media, Tech & Cyber, Rob Jones. “We are particularly excited about the continued support we receive from our excellent capacity partners as well as the two new Lloyd’s market relationships we are adding, which reflects our strong performance over the years as well as supporting our exciting plans for continued growth into differentiated, niche lines into 2025.”


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.


In September 2023, Nirvana announced it had launched a Warranty and Indemnity (W&I) insurance portfolio for SMEs in Europe industry under the leadership of industry veteran Thomas M. Mannsdorfer as part of its leadership team to build out a European underwriting business.


In February 2024, Nirvana also announced the appointment of Andrea Garcia Beltran to the newly-created post of Head of Cyber Europe.


“The renewal is the best possible outcome for the business as it facilitates our continued growth strategy into our leading Media E&O product, as well as serving our plans to write more micro/SME media accounts in particular in the entertainment and production sectors with a broader territorial footprint,” continued Mr. Jones.


“Combined with the distribution and product synergies we will experience alongside the launch of the European Cyber binder, which we are very keen to leverage, this is a very exciting time for the business as a whole.”


Ends

Media Contact: Stephen Breen, Rein4ce

+44 (0)7843 076556

 

General Enquiries:


+44 (0)20 4583 2676


About Nirvana Enjoying long standing partnerships with some of the most recognisable global media and technology organizations, Nirvana are leading experts in media and tech insurance in London and internationally. Nirvana was founded by Rob Jones in 2017 as a trading division within the Castel Underwriting Agencies platform.


Nirvana MTC is backed by a total of seven leading Lloyd’s syndicates.


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