A new Guernsey based life and annuity focused reinsurance company named Navigate Re has been launched with Polo Insurance Managers (PIM) assistance, the goal being to channel insurance-linked returns to investors through a vehicle sponsored by alternative asset manager Erithmitic.
The reinsurance company will offer bespoke capital and investment management solutions for annuity and life cedants, reinsuring annuities and other insurance products that match with Erithmitic’s asset management expertise, the company said.
Solomon Garber and Atit Jariwala are the principals behind Navigate Re and also its sponsor Erithmitic, which is an alternative asset manager that has a track-record in asset classes such as real estate, mortgage backed securities, direct lending and other structured finance niches.
Erithmitic was launched in 2021 as a next-gen alternative asset manager, aiming to utilise data and AI to execute workflows and investment strategies for clients.
Now, Erithmitic is branching out into reinsurance in the life and annuity space, while delivering investment returns, with the assistance of Polo Insurance Managers (PIM), an independent, licensed insurance manager within the PoloWorks group.
Navigate Re is being designed to provide a flexible and high-performing reinsurance platform that leverages Guernsey’s regulatory and commercial environment.
It appears the company will operate a little like a life and annuity reinsurance sidecar, while also leveraging the investment acumen of Erithmitic.
Solomon Garber said, “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’re proud to be part of that ecosystem.”
Atit Jariwala added, “We believe there is strong demand for sophisticated, transparent access to insurance risk. Navigate Re is built to meet that demand, and we’re thrilled to be working with the team at Polo Insurance Managers to make this vision a reality.”
Mark Elliott, CEO of Polo Insurance Managers, also commented, “We are delighted to have supported Solomon and Atit on the formation and on-going management of Navigate Re. The combination of their forward-thinking approach with our experience and understanding of the insurance and regulatory environment, enabled us to complete this setup efficiently and in a short timeframe.
“This launch further reinforces Guernsey’s position as the premier European domicile for innovative reinsurance structures and Polo Insurance Managers’ dedication to delivering high-value, customized client solutions.”
