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Polo Insurance Managers launched Clockwork Re in Guernsey

Polo Insurance Managers launched Clockwork Re in Guernsey

Polo Insurance Managers (PIM), the Guernsey based insurance manager business within the PoloWorks group, announces the launch of its client Clockwork Re – a newly established Category 4 Commercial General Reinsurer in Guernsey.

Clockwork Re has been formed to provide its investors with access to superior insurance returns from Lloyd’s of London and other collateralised reinsurance markets and has secured regulatory approval from the Guernsey Financial Services Commission (GFSC).

Clockwork Re aims to secure superior insurance returns from Lloyd’s and collateralized reinsurance markets, according to PIM, part of the PoloWorks group. The Guernsey Financial Services Commission has approved the reinsurer.

Dhruv Patel OBE, the founder behind Clockwork Re, is 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.

Dhruv Patel, Clockwork Re’s founder, praised the efficiency of Guernsey’s service providers and regulators, stating it allowed a timely launch for the critical 1/1 reinsurance renewal period. Patel credited PIM for transforming the project into reality and expressed enthusiasm about contributing to Guernsey’s dynamic market.

PIM, which supports captive, commercial, and insurance-linked securities clients in Europe, highlighted Guernsey’s reputation as a preferred European hub for specialist insurance management.

CEO Mark Elliott emphasized this status in light of Clockwork Re’s launch. “We are pleased to have supported Dhruv on this unique formation, which is 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,” Mark Elliott said.

PoloWorks, part of Marco Capital, also operates Polo Managing Agency, a Lloyd’s turnkey managing agency; Polo Commercial Insurance Services, which supports about 40% of Lloyd’s and London market operators; and PoloPartners, a joint venture with PwC UK.

The establishment of Clockwork Re underscores Guernsey’s strategic importance as a global centre for insurance innovation and reaffirms Polo Insurance Managers’ commitment to delivering bespoke solutions that drive value for its clients.