Nirvana and Pulse announce plans to merge

Managing general agents Nirvana Underwriting and Pulse have announced plans to merge their businesses.

Pulse is a specialist in non-standard Accident, Health and Life insurance, while Nirvana underwrites a global book of business across Media Errors & Omissions, Tech E&O, Cyber, and Warranty and Indemnity lines of insurance.

Nirvana is growing its business through a combination of organic growth, team hires, and acquisitions – and the Pulse merger represents the next phase of Nirvana’s strategic plan.

The transaction is subject to standard change of control processes with both the FCA and FSMA in Belgium.

“We are delighted to be joining forces with Pulse. The Pulse team have built a fantastic business over the past three decades, with a great culture, highly specialised underwriting expertise, and a client-centred approach, helping to provide insurance to individuals who can’t find a solution with mainstream insurers. Our long-term, committed capital from our deep-pocketed investors enables us to provide liquidity to the original shareholders and retired founders of Pulse, while bringing the Pulse management team into our partnership model as co-leaders of the business.” – Kabir Chanrai, Chief Executive Officer of Nirvana.

“We are excited about the next phase of development for Pulse in partnership with Nirvana. The additional financial firepower that Nirvana provides will allow us to grow and evolve much more quickly than would have been possible on our own. Right from the start, we felt that the chemistry was right with Kabir, Rob and their team. We are delighted to be coming together with such a like-minded business and can’t wait to take things forward.” – Torquil McLusky, Managing Director of Pulse.