A brand new Guernsey based mostly life and annuity centered reinsurance firm named Navigate Re has been launched with Polo Insurance coverage Managers (PIM) help, the objective being to channel insurance-linked returns to buyers via a automobile sponsored by various asset supervisor Erithmitic.
The reinsurance firm will provide bespoke capital and funding administration options for annuity and life cedants, reinsuring annuities and different insurance coverage merchandise that match with Erithmitic’s asset administration experience, the corporate mentioned.
Solomon Garber and Atit Jariwala are the principals behind Navigate Re and in addition its sponsor Erithmitic, which is another asset supervisor that has a track-record in asset courses resembling actual property, mortgage backed securities, direct lending and different structured finance niches.
Erithmitic was launched in 2021 as a next-gen various asset supervisor, aiming to utilise information and AI to execute workflows and funding methods for shoppers.
Now, Erithmitic is branching out into reinsurance within the life and annuity house, whereas delivering funding returns, with the help of Polo Insurance coverage Managers (PIM), an impartial, licensed insurance coverage supervisor throughout the PoloWorks group.
Navigate Re is being designed to offer a versatile and high-performing reinsurance platform that leverages Guernsey’s regulatory and industrial atmosphere.
It seems the corporate will function just a little like a life and annuity reinsurance sidecar, whereas additionally leveraging the funding acumen of Erithmitic.
Solomon Garber mentioned, “The launch of Navigate Re represents an thrilling step ahead in our mission to construct a nimble, investor-focused reinsurer. Guernsey provides an distinctive basis for innovation in reinsurance, and we’re proud to be a part of that ecosystem.”
Atit Jariwala added, “We imagine there may be sturdy demand for classy, clear entry to insurance coverage threat. Navigate Re is constructed to fulfill that demand, and we’re thrilled to be working with the staff at Polo Insurance coverage Managers to make this imaginative and prescient a actuality.”
Mark Elliott, CEO of Polo Insurance coverage Managers, additionally commented, “We’re delighted to have supported Solomon and Atit on the formation and on-going administration of Navigate Re. The mixture of their forward-thinking strategy with our expertise and understanding of the insurance coverage and regulatory atmosphere, enabled us to finish this setup effectively and in a brief timeframe.
“This launch additional reinforces Guernsey’s place because the premier European domicile for revolutionary reinsurance constructions and Polo Insurance coverage Managers’ dedication to delivering high-value, custom-made shopper options.”
