Polo Insurance Managers (PIM), the independent insurance management arm of PoloWorks, has launched Navigate Re, a new Category 6 Special Purpose Entity focused on delivering insurance-linked investment returns.
The entity, based in Guernsey, received regulatory approval from the Guernsey Financial Services Commission and officially began operations in the first quarter of 2025.
Navigate Re is led by Solomon Garber (pictured above) and Atit Jariwala, and is sponsored by Erithmitic, an asset manager headquartered in New York. The reinsurer is structured to offer investors exposure to insurance risk through a flexible platform that utilizes Guernsey’s regulatory infrastructure.
Garber said the formation of Navigate Re aligns with the company’s mission to develop a reinsurer that is agile and investor-centered.
Jariwala also noted that the platform responds to demand for greater transparency and sophistication in insurance-linked investments, and acknowledged the role of Polo Insurance Managers in enabling the launch.
Polo Insurance Managers described the launch as part of a broader effort to position Guernsey as a leading domicile for reinsurance structures. The company also cited the development as consistent with its aim to deliver tailored services to clients seeking alternative reinsurance solutions.
The launch of Navigate Re follows the January 2025 formation of Clockwork Re, a Category 4 commercial general reinsurer also managed by PIM. Clockwork Re is led by Dhruv Patel, director of the Association of Lloyd's Members and deputy chairman of the Lloyd’s market high premium group.
PIM was established in February 2024 to serve captive, commercial, and insurance-linked securities (ILS) clients from its Guernsey base. Its core team is supported by Polo Commercial Insurance Services (PCIS), a UK-based provider of outsourced functions including underwriting, accounting, claims management, and compliance.
As part of the broader PoloWorks group, PIM benefits from the support of over 350 UK-based insurance specialists.
Earlier this year, Polo Managing Agency also managed a reinsurance to close (RITC) transaction between Marco Capital and Coverys Syndicate 1975.
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