Specialty managing general agent Nirvana has acquired Arena NV from Ryan Specialty, strengthening its presence in continental Europe.

Arena is a sports insurer in Belgium, working with federations and clubs across Flemish and French-speaking regions. The deal follows Nirvana’s recent merger with UK-based Pulse Insurance.

Torquil McLusky, managing director of Pulse, commented: “We are excited about the addition of Arena to our group. We plan to be long term owners and partners, and provide Arena the support and capital it needs to continue its first class client service, as well as provide new products to its client base. Arena and Pulse are strategically very good fits.”

Both businesses confirmed that staffing will remain unchanged and that brokers and clients will continue to deal with their usual underwriters.

Financial terms of the deal were not disclosed.

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