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 aim being to channel insurance-linked returns to traders by means of a car sponsored by various asset supervisor Erithmitic.
Navigate Re is a Guernsey domiciled Class 6 Particular Goal Entity and it has been shaped to ship entry to capital options for ceding shoppers and funding returns to its backers, specifically life and annuity insurance-related returns.
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 stated.
Solomon Garber and Atit Jariwala are the principals behind Navigate Re and likewise its sponsor Erithmitic, which is an alternate asset supervisor that has a track-record in asset courses equivalent to 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 knowledge and AI to execute workflows and funding methods for shoppers.
Now, Erithmitic is branching out into reinsurance within the life and annuity area, whereas delivering funding returns, with the help of Polo Insurance coverage Managers (PIM), an unbiased, licensed insurance coverage supervisor inside the PoloWorks group.
Navigate Re is being designed to offer a versatile and high-performing reinsurance platform that leverages Guernsey’s regulatory and business setting.
It seems the corporate will function a bit of like a life and annuity reinsurance sidecar, whereas additionally leveraging the funding acumen of Erithmitic.
Solomon Garber stated, “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’s robust demand for stylish, clear entry to insurance coverage danger. Navigate Re is constructed to satisfy 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 setting, 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 buildings and Polo Insurance coverage Managers’ dedication to delivering high-value, personalized shopper options.”
