Specialist Lloyd’s of London brokerage, MNK Re Limited, has launched a new dedicated Residual Value Insurance (RVI) Centre of Excellence.
MNK Re has a specialist focus on Financial Risks, Casualty, Terrorism, Cyber risks and Marine liabilities, with clients in more than 50 countries across the world.
It’s been announced that Robert Prince has joined MNK Re as a Practice Leader to specialise in RVI business exclusively. He will be based in London, and brings more than two decades of experience in RVI and previously, has worked with numerous Lloyd’s brokers.
RVI is leveraged as an asset financing tool for enhancing financing arrangements and can also provide leverage to improve overall finance terms. It is also utilised to deliver financial benefits in the form of balance sheet protection, explains MNK Re.
MNK Re’s Chief Executive Officer (CEO) and Managing Director, Manoj Kumar, said: “Due to excellent global underwriting capacity and consistently high demand, RVI is a growing class of business supporting asset-based finance for the aviation, marine, energy, rail rolling stock, commercial equipment and commercial real estate sectors.
“RVI provides the client and asset financiers with certainty of an asset value for a pre-determined time in future, an invaluable means of providing guaranteed future asset values.”
