Navigate Re, a newly formed Category 6 special purpose entity in Guernsey, has officially launched following regulatory approval from the Guernsey Financial Services Commission (GFSC).
The reinsurer, backed by Polo Insurance Managers, aims to provide investors with access to insurance-linked returns, leveraging Guernsey's regulatory framework and commercial environment.
Navigate Re is sponsored by Erithmitic and led by principals Solomon Garber and Atit Jariwala, who bring extensive experience in insurance and alternative investment strategies.?
Garber states: "The launch of Navigate Re represents an exciting step forward in our mission to build a nimble, investor-focused reinsurer.
“Guernsey offers an exceptional foundation for innovation in reinsurance, and we are proud to be part of that ecosystem".
Jariwala adds: "We believe there is strong demand for sophisticated, transparent access to insurance risk. Navigate Re is built to meet that demand, and we are thrilled to be working with the team at Polo Insurance Managers to make this vision a reality".
The company's strategy focuses on the reinsurance of annuities and other insurance products, aiming to deliver consistent risk-adjusted returns, capital efficiency, and effective asset liability matching for clients.
Mark Elliott, CEO of Polo Insurance Managers, highlights that the firm is “delighted to have supported Solomon and Atit on the formation and ongoing management of Navigate Re.”
He adds that the launch “further reinforces Guernsey’s position as the premier European domicile for innovative reinsurance structures.”
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