BPL Global has been named as a finalist in the “Broking Firm of the Year” category in this year’s Insurance Day London Market Awards.
As one of only four brokers shortlisted for the award, the nomination reflects a standout year of growth and innovation for BPL Global in the credit and political risk insurance space.
Winners will be announced on 21st November.
A full roundup of the 2019 award finalists can be read here.
As demand from clients for portfolio-based risk-weighted asset (RWA) solutions increases and the pool of reinsurers comfortable with providing this type of protection grows, “the focus on synthetic securitisation will be much more acute over the coming years”, says Gregory King-Underwood, BPL Global’s recently-hired Director and Global Head of Reinsurance and Portfolio Solutions.
Indeed, James Esdaile, Managing Director, BPL Global, commented that King-Underwood’s hire comes at a time of increasing overlap with the reinsurance market.
According to King-Underwood, there is currently a low level of awareness around how financial institution clients can leverage the insurance and reinsurance markets to better manage risk – something that he hopes to help remedy by encouraging dialogue with regulators and other market participants.
To read the full interview, please click here.
BPL Global’s Chairman, Charles Berry, has been appointed as President of the Insurance Institute of London (IIL). Berry, who succeeds Nicolas Aubert, CEO, Willis Towers Watson GB, will serve in office for the 2019-20 term alongside new Deputy President Anthony Baldwin, CEO and Board Director, AIG UK.
Delivering his first presidential address at the IIL’s AGM on 30th September, Berry said: “It is a great honour to serve the Institute as President, but somewhat daunting as I have big shoes to fill.”
He continued: “My theme for the year – ‘Who do you act for?’ – stems from my belief that trust in financial markets depends on market professionals being transparent as to who they act for: buyer or seller; client or capital provider. I look forward to developing this theme during a year full of challenges, but also one promising opportunity for all.”
Following outreach by Moorgate, Berry’s appointment was covered by The Insurer, Insurance Business, Insurance Insider, Reinsurance News, Insurance Age, Credit Insurance News Digest, Intelligent Insurer and TXF.
In an exclusive interview with Into Africa, BPL Global Directors George Bellord and Sam Evans explore the impact that the global political and economic climate is having on demand for trade credit insurance to cover African risk, as well as the challenges and opportunities for the wider credit and political risk insurance (CPRI) market.
“Africa is one of the regions with the largest exposure for our clients. The high growth rates of many countries across Africa, such as Ethiopia and Cote D’Ivoire, have meant increased levels of trade, as well as infrastructure projects, ranging from energy to roadway construction,” said Evans.
To read the full interview, please click here (page 49).
BPL Global has brought reinsurance expertise in-house with the appointment of Gregory King-Underwood as Director and Head of Global Reinsurance and Portfolio Solutions.
Commenting on the appointment, James Esdaile, Managing Director, BPL Global said: “We are delighted to welcome Gregory to the BPL Global team, where he will be invaluable in informing our strategy at a time of rising synthetic securitisation and growing synergies between the CPRI and reinsurance markets.”
Following outreach by Moorgate, news of the appointment was covered by: Reinsurance News, Intelligent Insurer, Global Trade Review, Captive International, Captive Review, Structured Credit Investor, Finanznachrichten, Credit Insurance News Digest and TXF.
Speaking to Insurance Day for its “Big Interview” feature, BPL Global’s Managing Directors Sian Aspinall and James Esdaile explain how the credit and political risk insurance broker’s independence and specialist focus is a competitive advantage in one of the insurance market’s most niche areas.
“We think the market has the potential to grow exponentially,” said Sian Aspinall. “We are in a very strong position to grow by having the right people present in the right hubs.”
You can find the full interview here (behind paywall), or on page six of Insurance Day’s latest issue here.
In an interview with Reactions magazine, Sian Aspinall, Managing Director of BPL Global, discusses how the political risk insurance market performed in 2018 and the current state of play across the wider credit and political risk insurance (CPRI) market.
Aspinall explained, “This year, maximum per-risk capacity available for political risk rose to US$3.2bn, representing a US$200m increase from 2018 and indicating healthy appetite within the market to write political risk insurance business.”
To read the full article, please see page 44 of the latest edition of Reactions (behind paywall).
In a commentary for Commercial Risk Europe, James Esdaile, Managing Director of BPL Global, explains the need for risk managers of European corporates that operate in overseas markets to closely assess their need for credit and political risk insurance (CPRI), before an insurable event occurs.
A lack of awareness and interest in CPRI among corporate risk managers, argues Esdaile, leaves corporates potentially exposed in areas such as non-payment by overseas customers; failure of suppliers; terrorism; and equity investments.
Read the full commentary here (requires subscription).
Jonny Carruthers, Assistant Director at BPL Global, explains the way in which Excess of Loss (XoL) credit insurance can help banks grow their trade receivables portfolios for TXF magazine.
Carruthers examines the history of XoL – which offers up to 100% cover – and explains the main benefits for banks, as well as outlining his prediction for future growth.
To read the full article, please click here.
Speaking to global trade and investment insurance forum, ExCred, James Esdaile, Managing Director, BPL Global, discusses the findings of the credit and political risk insurance broker’s latest Market Insight report.
Despite challenges facing the industry in 2018, such as uncertainty over Brexit and the UK Prudential Regulation Authority (PRA)’s consultation paper on credit risk mitigation (CP6/18), the market has shown resilience and even growth in key business lines. This, says Esdaile, speaks to “an agility within the market to adjust to both shifting risk patterns and evolving client demand.”
The full commentary can be found here.