Oak Reinsurance and Polo Managing Agency Limited have announced that Oak Re Syndicate 2483 has secured Lloyd’s ‘in principle’ approval to begin underwriting from 1st January 2025. PMA is an independent turnkey Lloyd’s managing agency and is a PoloWorks company.

Paul Andrews, chief executive officer of PoloWorks and PMA, said: “We are honoured to have partnered with Oak Re on their Lloyd’s new entrant journey. The executive team, headed by Cathal Carr, brings a wealth of underwriting expertise and experience to the market.”

Carr, chief executive officer and founder of Oak Re, added: “We are proud to work with PMA and look forward to continued partnership with their strong team of industry experts.”