Insurance company Iris establishes a Centre of Excellence for Reverse Validation Integrity
In the realm of asset-based financing, two significant developments have taken place recently. Iris Insurance Brokers, a specialist Lloyd's Broker based in London, and MNK Re have both established dedicated Residual Value Insurance (RVI) Centres of Excellence.
Iris Insurance Brokers, with a global client base in over 18 countries, has expanded its services with the launch of its RVI Centre of Excellence. The new centre will focus on providing Binders and Reinsurance Solutions for RVI business, marking a strategic move to support asset-based financing across various sectors. Robert Prince, with over 20 years of experience in RVI, has joined Iris Insurance Brokers as Divisional Director to spearhead this new venture.
Meanwhile, MNK Re Limited has also launched its RVI Centre of Excellence, based in London. Robert Prince, previously associated with other Lloyd's brokers, has joined MNK Re as Practice Leader to specialize in RVI business exclusively.
Superscript, an insurance broker operating across the European Economic Area (EEA) after gaining accreditation from Dutch regulator AFM, has also entered the RVI market. Superscript's advisory service, SuperscriptQ, has been granted authorisation to operate in Europe as a Lloyd's broker. They opened their European operations earlier this year, with an office in the Netherlands.
Residual Value Insurance (RVI) is a powerful asset financing tool that offers balance sheet protection, enhanced accounting treatment, and capital charges relief. It can provide assurance by guaranteeing a specific asset value at a future date, an essential tool for securing future asset values with confidence.
RVI can be used to mitigate residual value risk, enabling larger and more flexible financing, facilitating growth across sectors, promoting innovation and market development, and supporting economic development. By transferring residual risk to the insurer, banks and lenders may approve higher financing amounts or longer terms, as their downside risk is reduced.
These new RVI Centres of Excellence are poised to make a significant impact on the asset-based financing landscape, offering expert advice, new products, and improved risk management solutions for clients and financiers alike. For more detailed, specific insights about Iris Insurance Brokers’ RVI Centre of Excellence, please refer to their website at www.irisib.com.
- The establishment of Iris Insurance Brokers' RVI Centre of Excellence signifies a strategic move in the finance industry, providing underwriting solutions for Residual Value Insurance (RVI) business that support asset-based financing.
- MNK Re's launch of its RVI Centre of Excellence in London, led by Robert Prince, a seasoned professional in RVI, marks another significant development in the events of the insurance industry.
- The presence of RVI, with its benefits like balance sheet protection and capital charges relief, is expected to make a substantial impact on asset-based financing businesses across various sectors, due to its potential to mitigate residual value risk and facilitate growth.
