Based in London new team will handle RVI business exclusively
Aon Re Global Fac 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.
Martin Welsh commented: ‘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 / or their financiers with certainty of an asset value for a pre determined time in future, an invaluable means of balancing exposures in volatile markets’.
Aon said: ‘RVI can be used as a powerful financing tool to help with securing finance and / 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.’
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