MNK Re Limited has tapped an industry expert as it launches a dedicated centre of excellence for residual value insurance (RVI).
Joining the specialist Lloyd’s broker as practice leader is Robert Prince, who brings in excess of two decades of RVI experience. At MNK Re – which specialises in financial risks, casualty, terrorism, cyber, and marine liabilities – Prince will focus on RVI exclusively while based in the London headquarters.
Worldwide, the company has a client base in more than 50 countries.
“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,” said MNK Rechief executive and managing director Manoj Kumar (pictured).
“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.”
