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 and part of Ryan Specialty Europe GmbH, a subsidiary of Ryan Specialty, LLC.
Financial terms of the acquisition were not disclosed and are expected to close in the second half of 2026, subject to regulatory approvals and customary closing conditions.
C&S has been providing coverage services to public entities across Sweden for decades and consists of a team of five experts led by Managing Director Jan Hallberg.
Ongoing operations will be transferred to Nirvana as C&S will be acquired by its Belgian subsidiary Arena and trade as Arena.
Neither firm plans any changes to its teams as a result of the transaction, so brokers and clients will continue to interact with their usual underwriter contacts without any disruption to service.
Hallberg commented: “I am extremely proud of what our team has achieved over the years and of the reputation we have earned in the Swedish public entities market. Nirvana and Arena share our entrepreneurial spirit and long-term commitment to professional underwriting.
“This transaction creates exciting opportunities for our employees, brokers and clients, while ensuring continuity of service and expertise has always been our top priority. We are grateful to Ryan Specialty for supporting our journey over the past few years.”
Kabir Chanrai, CEO of Nirvana, added: “We are delighted to partner with Jan and add this leading product portfolio to our group. This expansion also gives us our first foothold in Sweden, with the potential to expand throughout the Nordic region.”
Howden Capital Markets & Advisory serves as Ryan Specialty’s exclusive financial advisor.
