PoloWorks launches MGA incubator

PoloWorks, a service provider for the UK insurance market, announced the launch of Polo MGA, a new managing general agent incubator.

The new offering provides services to both startups and established MGAs and PoloWorks may also invest in the business if it fits its investment appetite.

Polo MGA offers the full range of services needed to incubate an MGA including credit control, finance support and regulatory reporting, along with internal broker support and transaction management.

“This is an exciting addition to the PoloWorks suite of services. The launch of Polo MGA broadens our offering to underwriters taking the MGA route seeking enhanced performance-based remuneration, as well as setting the stage for a potential future transition into their own Polo-managed syndicate or syndicate-in-a-box. Our new MGA incubator aims to support the establishment of MGA-based underwriting cells, allowing underwriters to focus on their core tasks of underwriting and business development. I look forward to working alongside the wider PoloWorks team in the MGA space.” – Adam Tanner, Head of Polo MGA.

“This launch marks a significant milestone for PoloWorks. The launch of Polo MGA enables PoloWorks to provide a user-friendly underwriting vehicle in the UK market alongside international underwriting capability via our Lloyd’s turnkey division Polo Managing Agency. Our aim is to not stop there – from June 2024, we will also be able to offer an offshore platform in Guernsey through Polo Insurance Managers. The launches of Polo MGA now and of PIM in June are further extensions to the full-service, multi-platform turnkey offering that PoloWorks provides.” – Paul Andrews, CEO of PoloWorks and Polo Managing Agency.