Specialty Managing General Agent (MGA) Nirvana has signed a definitive agreement to acquire certain assets of Ryan C&S, whose ultimate parent company is Ryan Specialty, LLC.
Ryan C&S is a division of Ryan Specialty Nordics, part of Ryan Specialty Europe GmbH, a subsidiary of Ryan Specialty, LLC.
The financial terms of the acquisition were not disclosed, and it is expected to close during the second half of 2026, subject to regulatory approvals and customary closing conditions.
C&S has been providing coverage to public entities across Sweden for decades and consists of a five-person team of experts led by Jan Hallberg as Managing Director.
The ongoing business will transfer to Nirvana, as C&S will be acquired by its Belgian subsidiary, Arena, and will trade under the Arena name.
Neither business plans any changes to their teams as a result of the transaction, and brokers and clients will therefore continue to interact with their usual underwriter contacts without disruption to service.
Hallberg commented, “I am extremely proud of what our team has built over the years and of the reputation we have earned in the Swedish public entity market. Nirvana and Arena share our entrepreneurial spirit and long-term commitment to specialist underwriting.
“This transaction creates exciting opportunities for our employees, brokers and clients, while ensuring the continuity of service and expertise that has always been our priority. We are grateful to Ryan Specialty for their support in our journey over the last few years.”
Kabir Chanrai, Chief Executive Officer, Nirvana, added, “We are delighted to be partnering with Jan and adding this leading portfolio to our group. This expansion also gives us a first foothold in Sweden and the potential to expand across the Nordics.”
Howden Capital Markets & Advisory was the exclusive financial advisor to Ryan Specialty.
