MNK Re Limited, a specialist Lloyd’s Broker headquartered in London, has announced the launch of a dedicated Residual Value Insurance (RVI) Centre of Excellence.
Based in London, Robert Prince has joined MNK Re as Practice Leader to specialize in RVI business exclusively. Robert has over 20 years of experience in Residual Value Insurance and in the past, he has worked with many Lloyd’s brokers.
Manoj Kumar, CEO and Managing Director of MNK Re, 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.”
RVI is used as a powerful asset financing tool for enhancing financing arrangements and can provide leverage to improve overall finance terms. RVI is also used to deliver financial benefits in the form of balance sheet protection.