Nirvana, a newly launched Media, Tech and Cyber MGA, has launched its new European SME Warranty & Indemnity (W&I) binder, led by mergers & acquisitions (M&A) underwriting expert, Thomas Mannsdorfer.
According to the announcement, the team has a total available line size of €20 million, in partnership with a select number of top Lloyd’s syndicates.
The binder also aims to meet the needs of an under-served local market.
The team is led by Thomas Mannsdorfer in Barcelona, focusing on local products in local languages as well as English, built upon strong relationships and first class service to regional and global brokers.
Earlier this year, Mannsdorfer joined Nirvana as part of the MGAs leadership team.
It has also been confirmed that Mannsdorfer will be supported by two underwriters with corporate legal and insurance experience, Eloi Nuñez-Romero and Isaure Maltonti, who have both joined to help build out the business.
The team will also be providing specific solutions to the European SME sector that includes well-established companies and family enterprises as well as innovative new undertakings.
Mannsdorfer brings more than two decades of experience towards the role. Prior to joining Nirvana, Mannsdorfer, a qualified lawyer, headed up European Specialty underwriting at Sompo International.
In addition, he also led Sompo’s Barcelona branch and underwriting hub. He also 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. 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,” said Mannsdorfer.
Meanwhile, Eloi Nuñez-Romero joins Nirvana from Eversheds Sutherland, where he specialised in M&A, and Isaure Maltonti joins from Tokio Marine Europe, where she previously served as 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.”
Nirvana was advised by Acrisure Re, who put together the panel of insurers for the new W&I binder.
