Polo Insurance Managers (PIM), a Guernsey-based insurance manager, has launched Clockwork Re, a new Category 4 Commercial General Reinsurer in Guernsey. The company has received regulatory approval from the Guernsey Financial Services Commission (GFSC) to operate in the market. Clockwork Re aims to access superior insurance returns from Lloyd’s of London and other collateralized reinsurance markets.
The company was founded by Dhruv Patel, a respected capital provider at Lloyd’s and a director of the Association of Lloyd’s Members (ALM). Patel highlighted the professionalism and efficiency of the service providers and regulators in Guernsey, saying that they were able to launch the company in a short timeframe with confidence.
Polo Insurance Managers has played a crucial role in taking the project from concept to reality, and Patel is excited to bring his experience to the Guernsey market. Mark Elliott, CEO of Polo Insurance Managers, expressed his enthusiasm for the partnership, stating that it further endorses Guernsey’s status as a global centre for insurance innovation.
The establishment of Clockwork Re underscores Guernsey’s strategic importance as a leading insurance hub, and reaffirms Polo Insurance Managers’ commitment to delivering bespoke solutions that drive value for its clients. The company is part of the PoloWorks group, which offers a range of insurance services, including Polo Commercial Insurance Services, Polo Managing Agency, PIM, and PoloPartners.
In summary, Clockwork Re is a new Category 4 Commercial General Reinsurer in Guernsey, launched by Polo Insurance Managers to access superior insurance returns from Lloyd’s of London and other collateralized reinsurance markets. The company has received regulatory approval from the GFSC and is expected to operate in the market with confidence.