Posted: 27/09/2012
Guernsey today (27 September 2012) announces the launch of the Risk Purpose Trust (RPT),
a new mechanism allowing corporates to fund effectively for foreseen and unforeseen expenses and
business risks.
The Risk Purpose Trust was developed on Guernsey 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 after a 40 year career in the fields
of insurance broking and captive management.
Guernsey was responsible for the Protected Cell Company (PCC) in 1997 and the launching of the RPT
underlines Guernsey's place in the international Finance and Fiduciary marketplace.
The PCC as a product has become standard in the international financial market and it is expected that
the RPT will follow this path.
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 is, 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, MD of Marlborough Trust explains, “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, MD 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.”