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Frank Crystal & Company launches Art Finance Group

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In response to the increasing recognition of fine art and other collectibles as an ‘alternative’ asset class, US insurance brokerage firm Frank Crystal & Company has launched its Art Finance Group.

Leveraging the combined knowledge and expertise of Frank Crystal’s Financial Institutions and Private Client groups, the Art Finance Group will offer private collectors and institutions access to the global art insurance market, as well as knowledge, advice and customised products and solutions to better manage risks associated with financial transactions where fine art and other collectibles that are the underlying asset.

"More and more, sophisticated collectors, investors, and their advisors are recognising that fine art – as well as collectibles like wine and jewellery – is an asset class, not just a passion," says Jonathan HF Crystal, executive vice president and head of the Private Client Services group. "In just this past year, we have provided risk management and insurance advice on loan transactions totalling in excess of USD500 million, with collateral value exceeding USD1 billion."

Frank Crystal’s financial institutions group works with hundreds of the world’s largest banks, investment advisors, and asset managers, including 25 of the 100 largest hedge funds in the world. The company’s Private Client group addresses the personal risk management needs of affluent individuals and their families, with particular expertise in Fine Arts risks.

"The Art Finance Group is a natural extension of our strength and expertise in serving both the financial services and affluent ultra-high net worth sectors," says James W Crystal, chairman and chief executive officer of Frank Crystal & Company.

 

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