Oak Re Syndicate 2843 gets Lloyd’s approval to commence underwriting

Oak Reinsurance and Polo Managing Agency Limited (PMA), a PoloWorks company, have announced that Oak Re Syndicate 2843 has received Lloyd’s ‘in principle’ approval to commence underwriting from 1 January 2025.

Paul Andrews, Chief Executive Officer of PoloWorks and PMA, commented on the news, “We are honoured to have partnered with Oak Re on their Lloyd’s New Entrant journey.

“The executive team, headed by Cathal Carr, brings a wealth of underwriting expertise and experience to the market.”

Cathal Carr, Chief Executive Officer and Founder of Oak Re added, “We are proud to work with PMA and look forward to continued partnership with their strong team of industry experts.”

PoloWorks a Marco Capital business, is a Lloyd’s and London Market insurance services business and comprises four divisions, PMA, Polo Commercial Insurance Services (PCIS), Polo Insurance Managers (PIM), and PoloPartners.

For those unaware, Marco Capital is a P&C Legacy solutions consolidator supported by $550m committed equity capital.

Back in May, PoloWorks announced the launch of Polo MGA, a new Managing General Agent incubator. The new offering was created to provide services to both start-up and established MGAs ranging from support with their formation to help with their growth.

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