PoloWorks has launched Polo Insurance Managers (PIM), a captive manager. The company is a provider of support services to the UK insurance market. After receiving ‘approval in principle’ from the Guernsey Financial Services Commission, PIM is set to transform the insurance landscape as one of the few independent insurance managers in Europe, says PoloWorks. Based in Guernsey, Mark Elliott, CEO of Marco Re, will serve as the CEO of PIM. The captive manager’s core executive team will be supported by Polo Commercial Insurance Services which employs 350 UK based insurance specialists. Elliott comments: “We see an opportunity as an independent insurance manager to offer our existing and future clients with a comprehensive and bespoke insurance management service.” Paul Andrews, CEO of PoloWorks, adds: “As part of the PoloWorks business, PIM will be able to leverage in-group expertise and modern technology to offer a market-beating insurance manager proposition.”
