Polo Insurance Managers launches new Guernsey reinsurer Clockwork Re

PoloWorks group expands its insurance offerings with the launch of Clockwork Re, a Category 4 Commercial General Reinsurer established in Guernsey by its subsidiary, Polo Insurance Managers (PIM).

Founded by Dhruv Patel, Clockwork Re has now been granted regulatory approval from the Guernsey Financial Services Commission (GFSC).

The company aims to capitalise on the superior insurance returns available through Lloyd’s of London and other collateralised reinsurance markets, PoloWorks stated.

Patel, a respected capital provider at Lloyd’s, a Director of the Association of Lloyd’s Members (ALM), and Deputy Chairman of the High Premium Group, commented: “I am thrilled to announce the formation of Clockwork Re.

“The professionalism and efficiency demonstrated by service providers and regulators in Guernsey has been impressive, enabling us to launch in time for the critical 01/01 renewal period with confidence. Polo Insurance Managers have been instrumental in taking this project from concept to reality, and I am excited to bring my experience to this dynamic jurisdiction.”

Mark Elliott, CEO Polo Insurance Managers, added: ‘We are pleased to have supported Dhruv on this unique formation, which is a testament to our ability to structure and manage complex transactions for our clients in short timeframes.

“We are excited that Clockwork Re selected Polo Insurance Managers in Guernsey as its insurance manager, and this further endorses Guernsey’s status as the European domicile of choice for specialist insurance management solutions.”

Clockwork Re’s launch in Guernsey highlights both the island’s role as a global insurance innovation hub and Polo Insurance Managers’ dedication to delivering high-value, customized client solutions, PoloWorks highlighted.

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