Polo backs launch of Cat 6 Guernsey reinsurer Navigate Re

By Ryan Hewlett

April 22 - (The Insurer) - Guernsey-based Polo Insurance Managers (PIM), the independent insurance manager of PoloWorks, has launched the Category 6 reinsurer Navigate Re.

Navigate Re operates as a Category 6 Special Purpose Entity and has been formed to offer its investors access to insurance-linked returns.

The company received regulatory approval from the Guernsey Financial Services Commission (GFSC) and officially launched during the first quarter of 2025.

Led by principles Solomon Garber and Atit Jariwala and sponsored by New York-headquartered asset manager Erithmitic, Navigate Re is designed to be a “flexible and high-performing” reinsurance platform that uses Guernsey’s regulatory and commercial environment to generate returns.

Commenting on the launch, Garber said: “The launch of Navigate Re represents an exciting step forward in our mission to build a nimble, investor-focused reinsurer. Guernsey offers an exceptional foundation for innovation in reinsurance, and we’re proud to be part of that ecosystem.”

Jariwala added: “We believe there is strong demand for sophisticated, transparent access to insurance risk. Navigate Re is built to meet that demand, and we’re thrilled to be working with the team at Polo Insurance Managers to make this vision a reality.”

Polo said in a statement that the launch “further reinforces” Guernsey’s position as the “premier European domicile” for innovative reinsurance structures and Polo Insurance Managers’ dedication to delivering high-value, customised client solutions.

Polo Insurance Managers unveiled the launch of a Category 4 commercial general reinsurer, Clockwork Re, in January. Clockwork Re is led by Dhruv Patel, currently director of the Association of Lloyd's Members and deputy chairman of the market's high premium group.

PIM was formed in February last year as a Guernsey-based manager serving captive, commercial and ILS clients.

The core executive team is supported by Polo Commercial Insurance Services (PCIS), which is based in the UK and provides onshore outsourced services including underwriting support, management accounting, claims management and compliance.

Polo is the trading name of Polo Managing Agency, which provides third-party management services to businesses looking to enter the Lloyd’s market, as well as the outsourced services of PCIS.