Risk Management & Governance
Risk Management & Governance
Risk Management & Governance
Our team has deep experience - both in terms of global breadth, as well as the depth of services, which has been acquired by virtue of working with several families. This experience helps with your diverse needs in the field of insurance, family governance, wealth structuring and succession planning.
Our team has deep experience - both in terms of global breadth, as well as the depth of services, which has been acquired by virtue of working with several families. This experience helps with your diverse needs in the field of insurance, family governance, wealth structuring and succession planning.
"LET US TELL YOU THE STORY
OF THE ONE-EYED STAG."
"LET US TELL YOU THE STORY
OF THE ONE-EYED STAG."
"LET US TELL YOU THE STORY OF THE ONE-EYED STAG."
Insurance Services
Insurance Services
There was once a one-eyed stag who grazed in a forest abutting the sea. Well aware of the risk of missing one eye, it chose to graze along the beach, with his healthy eye to the forest. Predators he knew, after all, came from the forest. One fine day, the stag was shot. It was killed by a hunter who came from the sea.
Simple Lesson: You cannot protect yourself from risks you are not even aware of. We have come across several instances, where our clients are not fully aware of the risks to their businesses and personal wealth. The reason for this is simple. Their wealth, personal assets, and business interests are spread over multiple jurisdictions. Secondly, risks to their business and personal wealth also change with time. This is due to changes in legislation in the jurisdictions they operate in, and also changes in their personal situations. Only an entity that watches over all these aspects is well equipped to ring-fence your businesses, and de-risk them.
THE PRIVATUS OFFERING:
After the initial assessment of the business and your personal situation, we are able to assess the risks that the family must be protected against. A review of existing policies is then undertaken to see if they are still effective in terms of their purpose and costs. Our insurance experts advise on a full suite of insurance products and services for risk management. We need to reinforce that our relationship is not restricted to a one-off transaction. We are a constant presence in our clients’ families, proactively watching out for changes in the environment or personal situations and protecting the family against the risks that may arise therefrom.
COVERING A BROAD RANGE OF RISKS:
In terms of risk management, we go far beyond Life Insurance and Key Man Insurance. We ensure that the family is covered for medical emergencies, no matter which part of the world they are in. We cover movable and immovable assets, whether business or personal - covering assets like your yacht and your private jet too. Lastly, we also help cover business risks including , for example, your trade receivables.
There was once a one-eyed stag who grazed in a forest abutting the sea. Well aware of the risk of missing one eye, it chose to graze along the beach, with his healthy eye to the forest. Predators he knew, after all, came from the forest. One fine day, the stag was shot. It was killed by a hunter who came from the sea.
Simple Lesson: You cannot protect yourself from risks you are not even aware of. We have come across several instances, where our clients are not fully aware of the risks to their businesses and personal wealth. The reason for this is simple. Their wealth, personal assets, and business interests are spread over multiple jurisdictions. Secondly, risks to their business and personal wealth also change with time. This is due to changes in legislation in the jurisdictions they operate in, and also changes in their personal situations. Only an entity that watches over all these aspects is well equipped to ring-fence your businesses, and de-risk them.
THE PRIVATUS OFFERING:
After the initial assessment of the business and your personal situation, we are able to assess the risks that the family must be protected against. A review of existing policies is then undertaken to see if they are still effective in terms of their purpose and costs. Our insurance experts advise on a full suite of insurance products and services for risk management. We need to reinforce that our relationship is not restricted to a one-off transaction. We are a constant presence in our clients’ families, proactively watching out for changes in the environment or personal situations and protecting the family against the risks that may arise therefrom.
COVERING A BROAD RANGE OF RISKS:
In terms of risk management, we go far beyond Life Insurance and Key Man Insurance. We ensure that the family is covered for medical emergencies, no matter which part of the world they are in. We cover movable and immovable assets, whether business or personal - covering assets like your yacht and your private jet too. Lastly, we help also cover business risks including , for example, your trade receivables.
"AND YOU THOUGHT CREATING WEALTH
IS THE TOUGH PART."
"AND YOU THOUGHT CREATING WEALTH
IS THE TOUGH PART."
"AND YOU THOUGHT CREATING WEALTH IS THE TOUGH PART."
Family Governance & Wealth Structuring
Family Governance & Wealth Structuring
The journey of wealth is exhilarating while it’s being made. The challenges begin when it has to be made available to the whole family. And when families grow beyond a single generation, you may feel the need for a more defined approach to wealth structuring and family governance, especially with multi-generational families, where family members retain a common beneficial interest in a family business or a family trust. There are often only a handful of family members responsible for managing the family wealth, which can lead to disengagement and a dilution of family values across the wider family. There is a need for someone who knows the family well, has a neutral perspective, and who has experience in handling similar situations.
At Privatus we act as an independent partner to the family. By virtue of having similar governance mandates for families across the world, we bring valuable experience in terms of how your affairs should be structured. We also bring to the table processes that make family governance easier.
THE PRIVATUS APPROACH:
As part of our processes, we usually recommend implementing a family memorandum - a structured exercise wherein we orchestrate conversations about wealth, distribution, and control. Wherever required, we help with implementing mechanisms like a family holding company, as also advising on which jurisdictions such holding companies must be based in. Our experience in handling multi-generational family wealth across geographies helps us get to the table multiple perspectives on governance.
The journey of wealth is exhilarating while it’s being made. The challenges begin when it has to be made available to the whole family. And when families grow beyond a single generation, you may feel the need for a more defined approach to wealth structuring and family governance, especially with multi-generational families, where family members retain a common beneficial interest in a family business or a family trust. There are often only a handful of family members responsible for managing the family wealth, which can lead to disengagement and a dilution of family values across the wider family. There is a need for someone who knows the family well, has a neutral perspective, and who has experience in handling similar situations.
At Privatus we act as an independent partner to the family. By virtue of having similar governance mandates for families across the world, we bring valuable experience in terms of how your affairs should be structured. We also bring to the table processes that make family governance easier.
THE PRIVATUS APPROACH:
As part of our processes, we usually recommend implementing a family memorandum - a structured exercise wherein we orchestrate conversations about wealth, distribution, and control. Wherever required, we help with implementing mechanisms like a family holding company, as also advising on which jurisdictions such holding companies must be based in. Our experience in handling multi-generational family wealth across geographies helps us get to the table multiple perspectives on governance.
"FINDING THE RIGHT FIT
FOR THOSE ‘BIG SHOES’."
"FINDING THE RIGHT FIT
FOR THOSE ‘BIG SHOES’."
"FINDING THE RIGHT FIT FOR THOSE ‘BIG SHOES’."
Succession Planning
Succession Planning
Often our clients have derived their wealth from their family businesses. The appointment of a successor is relatively straightforward if it’s a case of simply passing the baton from a single founder to her child. However, in most cases, family dynamics are more complex than that. Sometimes, there are multiple founders or more than one generation involved in running the business. In some instances, the person earmarked as the ‘natural successor’ may not be the best candidate to steer the business for future generations. In other situations, the subsequent generations may not be willing to take an active role in controlling the company because they wish to pursue their own careers or interests.
It is, therefore, essential to have a well-formulated succession plan to ensure the longevity of the business. This will often involve making difficult decisions over the ownership, management and leadership of a company, especially if there are ‘outsiders’ brought in. It is here that Quadrigae Privatus provides an independent platform for sharing ideas to ensure fair decision making and mutual respect amongst stakeholders.
BALANCING THE INTERESTS OF FAMILY AND BUSINESS:
We work with you to understand not just your family goals, but also your business goals. The Family Memorandum discussions play a key role here. We put together a plan to transition the business to the next generation, with clear steps in place to affect the operational change.
THE PRIVATUS DIFFERENCE:
Our Family First Approach ensures that we have a relationship with all key family members, which allows us to manage any conflict that may arise, and help you to establish the most suitable way forward for your family. Our experience of working with family businesses, coupled with our network of partners in a wide variety of industries means that we can bring in specialists as and when required, to provide objective guidance on the best way forward.
Often our clients have derived their wealth from their family businesses. The appointment of a successor is relatively straightforward if it’s a case of simply passing the baton from a single founder to her child. However, in most cases, family dynamics are more complex than that. Sometimes, there are multiple founders or more than one generation involved in running the business. In some instances, the person earmarked as the ‘natural successor’ may not be the best candidate to steer the business for future generations. In other situations, the subsequent generations may not be willing to take an active role in controlling the company because they wish to pursue their own careers or interests.
It is, therefore, essential to have a well-formulated succession plan to ensure the longevity of the business. This will often involve making difficult decisions over the ownership, management and leadership of a company, especially if there are ‘outsiders’ brought in. It is here that Quadrigae Privatus provides an independent platform for sharing ideas to ensure fair decision making and mutual respect amongst stakeholders.
BALANCING THE INTERESTS OF FAMILY AND BUSINESS:
We work with you to understand not just your family goals, but also your business goals. The Family Memorandum discussions play a key role here. We put together a plan to transition the business to the next generation, with clear steps in place to affect the operational change.
THE PRIVATUS DIFFERENCE:
Our Family First Approach ensures that we have a relationship with all key family members, which allows us to manage any conflict that may arise, and help you to establish the most suitable way forward for your family. Our experience of working with family businesses, coupled with our network of partners in a wide variety of industries means that we can bring in specialists as and when required, to provide objective guidance on the best way forward.
PRIVATUS SAIML PTE. LTD.
6 TEMASEK BOULEVARD
SUNTEC TOWER 4
UNIT #23-02
SINGAPORE - 038986
Created by Think WhyNot
© 2020
PRIVATUS is a brand of SAIML Pte Ltd, a CMS licenced company regulated by MAS.