Reinsurance broker form new team to handle RVI
Aon Re Global has announced the launch of a dedicated residual value insurance (RVI) centre of excellence.
Based in London, Martin Welsh and Robert Prince will form the new team to handle RVI business exclusively.
RVI can be used as a powerful financing tool to help with securing finance or enhancing financial arrangements. By being included in financing deals RVI can provide leverage to improve overall finance terms. It is also used to deliver financial benefits in the form of balance sheet protection.
Martin Welsh said: “Due to added underwriting capacity and increased demand, RVI is a growing class of business, taking in areas of asset based finance including aviation, marine, energy, plant & equipment, power plants, factories, commercial real estate, rolling stock and the automotive industry.
“RVI provides the client and their financiers with certainty of an asset value for a pre determined time in future, an invaluable means of balancing exposures in volatile markets”.
The RVI centre of excellence will sit within Aon Re Global Fac, a division of the world’s largest reinsurance broker, Aon Re Global.
