Aon Re forms new RVI team

by Richard Kilner

Story link: Aon Re forms new RVI team

A dedicated residual value insurance (RVI) centre of excellence will be established by Aon Re Global, the firm announced this week.

The RVI will be based in London and run by Martin Welsh and Robert Prince, who will focus exclusively on the RVI business.

RVI is a tool that has a number of uses. It can be used to contribute to financial benefits through balance sheet protection or, by being included in financing deals, it can offer leverage allowing for stronger finance terms. RVI can secure finance or strengthen financial arrangements.

Welsh stated that greater demand and underwriting capability made RVI an increasing area of business. Areas of finance that are rooted in assets, such as viation, marine, energy, plant & equipment, power plants, factories and more are all prime areas for RVI.

He went on to say that RVI provision includes an excellent means to lessen exposure in volatile markets by offering both clients and financiers guaranteed asset value, for a pre-determined future time.