Polo Insurance coverage Managers (PIM), the Guernsey primarily based insurance coverage supervisor enterprise throughout the PoloWorks group, introduced the launch of Clockwork Re – a newly established Class 4 Business Normal Reinsurer in Guernsey.
Clockwork Re has been shaped to entry superior insurance coverage returns from Lloyd’s of London and different collateralised reinsurance markets and has secured regulatory approval from the Guernsey Monetary Providers Fee (GFSC).
Dhruv Patel, the founder behind Clockwork Re, is a revered capital supplier at Lloyd’s, a director of the Affiliation of Lloyd’s Members (ALM), and deputy chairman of the Excessive Premium Group.
“I’m thrilled to announce the formation of Clockwork Re. The professionalism and effectivity demonstrated by service suppliers and regulators in Guernsey has been spectacular, enabling us to launch in time for the important 01/01 renewal interval with confidence,” commented Patel.
“Polo Insurance coverage Managers have been instrumental in taking this mission from idea to actuality, and I’m excited to carry my expertise to this dynamic jurisdiction,” he added.
“We’re happy to have supported Dhruv on this distinctive formation, which is testomony to our capacity to construction and handle complicated transactions for our purchasers in brief timeframes,” stated Mark Elliott, CEO Polo Insurance coverage Managers.
“We’re excited that Clockwork Re chosen Polo Insurance coverage Managers in Guernsey as its insurance coverage supervisor, and this additional endorses Guernsey’s standing because the European domicile of alternative for specialist insurance coverage administration options,” Elliott stated.
The institution of Clockwork Re underscores Guernsey’s strategic significance as a worldwide centre for insurance coverage innovation and reaffirms Polo Insurance coverage Managers’ dedication to delivering bespoke options that drive worth for its purchasers.
About PoloWorks
PoloWorks is a number one Lloyd’s and London Market insurance coverage providers companies and is made up of 4 divisions: Polo Business Insurance coverage Providers (PCIS), which supplies specialist, outsourced providers to round 40% of operators inside Lloyd’s and the London Market; Polo Managing Company (PMA), a turnkey Lloyd’s managing company that gives a full suite of providers for all levels of a syndicate’s life cycle; PIM is an impartial insurance coverage supervisor primarily based in Guernsey and energetic in Europe, and PoloPartners, a three way partnership with PwC UK that gives a tech-enabled and end-to-end service.
Supply: PoloWorks
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