Princeps Ltd brings the new Guernsey innovation of the Risk Purpose Trust (http://riskpurposetrust.com/)
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 a great captive insurance alternative (http://princeps-
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 (http://princeps-
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.”