Guernsey: Guernsey Innovation Produces The Risk Purpose Trust
Last Updated: 30 October 2012

A new and innovative Guernsey product will allow corporates to fund effectively for foreseen and unforeseen expenses and business risks.

The Risk Purpose Trust (RPT) has been developed by the Robus Group, a Guernsey based leading provider of insurance management and corporate services, Marlborough Trust, a Guernsey based independent trust company and Richard Gale, an independent consultant with a 40 year career in the fields of insurance broking and captive management. Their new joint venture, Princeps Ltd, will bring the innovation of the RPT to corporations as the only, and original, RPT provider.

Guernsey was responsible for creation of the Protected Cell Company (PCC) in 1997 and the launch of the RPT underlines Guernsey's place in the international finance and fiduciary marketplace.

Richard Gale explains how the Risk Purpose Trust concept developed: "I developed the RPT model after my 20 years in captive management. My aim was to solve the imperfections inherent with a captive insurer which had become so apparent over the years. What resulted was a product which, while I feel is successful in my initial goal, has morphed into a much broader solution to the budgeting for expenses of corporates. What's surprising is how simple the model of the RPT, while what's exciting is how well it can solve so many issues."

The varied uses of the RPT range from budgeting assistance for gratuity payments, incentive payments or sports bonuses; provision for the 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.

Nick Hannah, Managing Director of Marlborough Trust explains, said: "The Risk Purpose Trust is borne out of a first class fiduciary and financial industry here in Guernsey. The development of this innovation is a testament to the expertise and experience that can be found on this Island."

Chris Le Conte, Managing Director of the Robus Group, added: "We are excited about this new innovation for Guernsey, this could potentially change the way corporates view their budget and risk management. We have no doubt that this latest move for Guernsey will only help to cement us as a financial domicile of choice throughout the world."

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