IgE is an antibody, designed to protect us from foreign, potentially dangerous substances by patrolling the blood stream and by functioning as probing "masts" on mast cells.
It is also the main antibody involved in allergies. You might even say that allergy is IgE mediated.
In an allergic person, IgE is continuously produced by blood cells called plasma cells.
Why do I have IgE?
IgE is specific. That means IgE to cat can only trigger an allergic reaction on exposure to cat and IgE to grass pollen can only trigger an allergic reaction on exposure to grass pollen. (Well almost only).
Thus, when an allergy prone person is exposed to an allergen for the first time, they may start to produce IgE antibodies that are specific to that particular allergen.
Once such a person has specific to IgE patrolling the blood stream, he or she may in the future have an allergic reaction to that allergen.