Lloyd’s and London Market insurance services provider, PoloWorks, has unveiled captive manager, Polo Insurance Managers (PIM) after the Guernsey Financial Services Commission granted ‘approval in principle’.
According to the announcement, PIM will be one of the few independent insurance managers active in Europe.
PoloWorks also confirmed that PIM will serve captive, commercial and insurance-linked-securities (ILS) clients using best in class technology, data insights and client service.
Initially based in Guernsey, PIM’s core executive team will be supported by Polo Commercial Insurance Services which employs 350 UK based insurance specialists.
At the same time, PoloWorks also stated that Mark Elliott, has been announced as Chief Executive Officer of PIM.
Elliott, commented: “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, said: “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.”
In September 2023, PoloWorks launched Polo Digital, a digital market offering designed to support Blueprint 2 and the digitisation of the London market.
The service provides brokers and insurers across the London insurance space with access to a comprehensive AI-supported digital toolkit, which helps to support and facilitate market reforms.
