Polo Insurance Managers announces launch of Clockwork Re

It serves as a Category 4 commercial general reinsurer in Guernsey

Polo Insurance Managers announces launch of Clockwork Re

Reinsurance

By Abigail Adriatico

Guernsey-based insurance manager Polo Insurance Managers (PIM) has announced the launch of a Category 4 commercial general reinsurer, Clockwork Re.

Clockwork Re was founded by Dhruv Patel, who is also a capital provider at Lloyd’s, Association of Lloyd’s Members director, and High Premium Group deputy chairman.

“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,” said Patel.

“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.”

Clockwork Re was formed in order to access superior insurance returns from Lloyd’s of London as well as other collateralized reinsurance markets. It has also secured regulatory approval from the Guernsey Financial Services Commission (GFSC).

Polo Insurance Managers CEO Mark Elliott said he was pleased to support Patel in the launch of Clockwork Re, which he said was a testament to the insurance manager’s ability to structure and manage complex transactions for clients within 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,” said Elliott.

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