New captive manager launched in Guernsey
Insurance outsourced services business PoloWorks has launched a captive management firm based in Guernsey. Polo Insurance Managers has been granted ‘approval in principle’ by the Guernsey Financial Services Commission.
Polo Insurance Managers will serve captive, commercial and ILS clients. Initially based in Guernsey, its core executive team will be supported by Polo Commercial Insurance Services, which employs 350 UK-based insurance specialists.
Mark Elliott has been appointed as chief executive officer of Polo Insurance Managers. Elliott said: “We see a tremendous opportunity as a truly independent insurance manager to offer our existing and future clients with a comprehensive and bespoke insurance management service.”
Paul Andrews, chief executive officer, PoloWorks, added: “As part of the PoloWorks business, PIM will be able to leverage substantial in-group expertise and modern technology to offer a market-beating insurance manager proposition.”
PoloWorks includes Polo Commercial Insurance Services and Polo Managing Agency and is a subsidiary of Marco Capital, a European P&C legacy solutions firm headquartered in Malta.
