December 14, 2023

Greek MGA Nos hires Stonybrook Capital to roadshow European expansion plan

Privately owned Greek motor MGA Nos Insurance Services has hired New York-based investment bank Stonybrook Capital to raise up to $30mn to finance an ambitious European growth plan, The Insurer can reveal.

Nos co-founder Alex Liagkas is currently roadshowing the company’s plans to prospective investors in New York and is in London next week, according to sources with knowledge of the initiative.

Nos – acknowledged as a leading independent Greek motor MGA with a consistently superior loss ratio – is looking to raise capital to go “full stack” through the acquisition or formation of a European insurance company. This would enable the MGA to retain a share of its predominantly rural motor book while continuing to cede the majority to its reinsurance backers.

An acquisition would also provide an underwriting platform to expand into other southern European nations. Under EU rules, insurers licensed in one member state can “passport” to operate in other EU nations.

Please see a link with the entire release here

Corporate Contact:
Kendel Bell
[email protected]

Stonybrook Capital