The new JV brings the new Guernsey innovation of the Risk Purpose Trust (RPT) to corporations as the only, and original, RPT provider, which will enable companies to fund effectively for foreseen and unforeseen expenses as well as business risks.
Robus Group managing director Chris Le Conte said, "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."
The RPT can be used to offer budgeting assistance for gratuity payments, incentive payments for sports bonuses, provision for future repair costs or replacement costs and rental guarantees for landlords of large property portfolios.
Additionally, it can be used to manage pension shortfalls and the support and provision for unforeseen risks of corporates generally, from the traditionally insurable to the non-insurable.
Richard Gale, who visualized the concept of the RPT commented, this is a product which will keep evolving to solve the problems that need to be solved and he believes that in Princeps this has been achieved.
