Pro Global Holdings swoops for Vibe MGA Management

(Re)insurance consultancy Pro Global Holdings Ltd is acquiring Vibe MGA Management (VibeMM) for an undisclosed amount. VibeMM is the MGA (managing general agent) incubator business of Vibe UK Holdings, which owns Lloyd’s managing agent Vibe Syndicate Management. The snapped-up London-based enterprise will be renamed Pro MGA Solutions Ltd. Subject to regulatory approvals, the UK swoop coincides with the formation of Pro MGA Solutions Inc in US state Pennsylvania. The dual move signifies Pro’s foray into the insurance distribution services sector in the two countries. Commenting on the British transaction, Pro chief executive Artur Niemczewski said: “I am pleased to announce the acquisition of VibeMM. Its highly experienced team brings a wealth of specialist knowledge that will allow us to provide a valuable additional means of supporting our clients. “The MGA sector has developed rapidly in recent years, and VibeMM’s senior team has extensive experience of operating in this entrepreneurial and dynamic market, supported by a network of expert service providers.” Niemczewski added that the simultaneous launch boosts the group’s strategy to broaden the ways in which it can help advance clients’ ambitions.