(26 October 2012): Marlborough Trust, a Guernsey based independent Trust company, The Robus Group, a Guernsey based leading provider of insurance management and corporate services and independent consultant, Richard Gale, today announced the launch of their new joint venture, Princeps Ltd.
Princeps Ltd brings the new Guernsey innovation of the Risk Purpose Trust (RPT) to corporations as the only, and original, RPT provider.
The RPT is a mechanism allowing corporates to fund effectively for foreseen and unforeseen expenses as well as business risks.
Chris Le Conte, MD of the Robus Group, explains his excitement at the launch of Princeps, “The RPT as a product can turn its hand to numerous applications. Having worked in the Captive Insurance industry for more than 20 years I believe the RPT could revolutionize the way corporates approach risk management, but the value of the RPT is so much wider reaching. This makes it the perfect captive insurance alternative”
The varied uses of the RPT range from budgeting assistance for gratuity payments, incentive payments for sports bonuses; provision for future repair costs or replacement costs (ie foreseen expenses); rental guarantees for landlords of large property portfolios; pension shortfalls, and the support and provision for unforeseen risks of corporates generally, from the traditionally insurable to the non-insurable.
As Nick Hannah, MD of Marlborough Group explains, the RPT is steeped in innovation, “At its inception, the development of the trust throughout history has been fuelled by a series of problems looking for answers. The great merit of the trust has been its ability to evolve and cope with new and different problems. The RPT is the natural continuation of this evolution.”
Richard Gale, who conceived the concept of the RPT, explains that the combination of the teams from Robus and Marlborough to create Princeps was the ideal choice. “I have worked a great deal with Chris Le Conte over many years and spent a considerable amount of time with Nick Hannah during the two years of the RPT development. Their exceptional creativity and thought leadership moved the conception to reality. The expertise and experience held by both of these individuals and their companies in their respective fields is of invaluable importance when facilitating the use of the RPT. This is a product which will keep evolving to solve the problems that need to be solved.
We wanted to create an advisory company which would embody the innovation and expertise which has produced the RPT. We believe that in Princeps this has been achieved.”
For more information visit http://princeps-rpt.com or telephone +44 1481 742555
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