An insurance broker specialising in aircraft financial risk transfer solutions has opened its offices in Bermuda.

Risk Intermediation Structured Capital (Bermuda) Ltd. (RISC Bermuda), which was incorporated in June this year, specialises in developing effective insurance solutions for the aircraft risk management and financing markets.

RISC Bermuda combines sophisticated modelling capabilities with insurance and capital markets expertise to provide a unique market resource for the complex risk transfer and financing challenges of the aircraft industry. RISC Bermuda?s currently covers client portfolios with aggregate risk approaching $10 billion.

Its activities include modelling and arranging capacity for a $2 billion pool to write ?BB/Ba? tranches of aircraft portfolio risks.

In conjunction with its affiliate AircraftRisk.com and a leading investment bank, it is developing a unique capital markets ?derivative? residual value cover ? the ?Reference Aircraft Protection? (RAP). The company is also developing traditional insurance market capacity for indemnity residual value covers and acting as a general broker of complex risks on behalf of its clients.

Derrell Hendrix, CEO of RISC Bermuda, said: ?RISC Bermuda is being positioned to become the world?s leading broker and advisor on risk transfer in connection with aircraft and other large operating asset finance risks.

?By basing its services on stochastic modelling techniques and on industry partnerships for asset and re- marketing management, we aim to improve the transparency and ultimately the liquidity of the aircraft risk transfer and financing market.?