BPL Global – the leading specialist credit and political risk insurance broker – recently announced the opening of a new branch in Geneva. Philippine de Villèle (left) re-joins from UBS to head the office.
With a focus on developing new relationships with Swiss-based banks, traders, NGOs and other potential clients, the branch will also act as a local point of contact for the broker’s existing clients. It takes the number of BPL Global offices to six, joining London, Paris, Hong Kong, Singapore and Dubai.
Following outreach from Moorgate, news of the Geneva branch was published by TXF, Intelligent Insurer, IJ Global, Trade Finance, GTR, Sigorta Gündem, Credit Insurance News and Schweizer Versicherung.
Speaking to Reactions magazine, James Esdaile, Managing Director, BPL Global, provides a candid overview of the past and future of the credit and political risk insurance (CPRI) market.
According to Esdaile, the CPRI market has come a long way since he entered the business in 1997 – what was once a small market niche with approximately 10 players has become an attractive sector that boasts 50-60 primary insurers drawn by the market’s relatively high margin and the opportunity for diversification. As a result, the CPRI market now has a potential maximum line in the billions of dollar range and tenors of up to 20 years. Certainly, compared to other insurance business lines, the CPRI market still remains a niche market but growing awareness of the benefits and success in claims delivery renders it a valuable risk mitigation in its own right for both banks and corporate buyers.
The article also features excerpts from BPL Global’s inaugural Market Insight report, released earlier this year, which details the strides in claims and capacity within the CPRI sector since 1983 as based on market data and statistics from BPL Global’s own portfolio.
To access the magazine, please click here. The article is on pp. 26-27, but please note that a subscription is required to read it.
To read the full version of BPL Global’s Market Insight report, please click here.
Market capacity for credit and political risk insurance (CPRI) has grown by 30% since 2015 according to the first ever Market Insight report released by BPL Global, marking its 35th year as the leading CPRI broker.
Based on market statistics and BPL Global’s own portfolio, the report provides an analysis of the CPRI market’s capabilities, current worldwide risk exposures and a claims update, focusing in particular on claims activity since the global financial crisis.
“Our report shines a spotlight on the fact that appetite for the CPRI class is on an upwards trajectory – both in terms of capacity and tenors” says Sian Aspinall, Managing Director, BPL Global. “Furthermore, analysis of market data clearly shows that it is adapting its capabilities to match natural return on investment for areas such as project finance structures, providing coverage for up to 25 years. Also notable is the jump in capacity for non-trade related credit insurance to over US$1.5bn per risk – an area previously constrained by Lloyd’s regulatory requirements.”
Following outreach from Moorgate, the report was covered by: TXF, Insurance Insider, Asia Insurance Post, Insurance Shark, Strategic Risk Europe, Business Insurance, Insurance Insider (2), Luther Pendragon, Commercial Risk Europe, Corporate Risk & Insurance, Global Trade, Credit Insurance News and The Treasurer.
To download a copy of the full report, please click here.
Leading specialist financier Falcon Group has announced Ross Anderson, former Westpac Director, as National Business Development Manager, Institutional Clients.
Responsible for spearheading Falcon’s growth in Australia, with a specific focus on mid-cap and large corporate ASX-listed companies, Anderson brings over 12 years of experience in financial services to the role.
“Since launching in 2015, Falcon Group Australia has gone from strength to strength,” said Will Nagle, CEO of Falcon Group. “Attracting someone of Ross’s calibre into the business is a great endorsement of our strategy and ambition and we are confident that his knowledge and experience will be vital as we continue our plans to grow and develop in Australia.”
Following Moorgate’s outreach, the news was covered by: GTR, BCR, Global Banking & Finance Review, FTSE Global Markets, Trade Finance and TXF.
In an interview with Trade Finance Global, Steve Box, former International Bibby Financial Services CEO and Falcon Group’s newly-appointed Head of Business Development UK & Europe, discusses the future for the company – specifically its plans for the UK and European market.
While Falcon has had a UK presence for many years, the company’s newly increased product portfolio means that it now has the capability to extend their offering in these markets. Certainly, the UK and Europe are hugely important to global trade flows – perhaps even more so now given rising inflation, interest rates and the devaluation of sterling. In fact, according to recent ONS figures, the narrowing of the trade-in-goods deficit in the three months to November 2017 was due to an increase in exports to non-EU countries.
The full interview can be read here.
Leading specialist financier Falcon Group has announced Steve Box, former Bibby Financial Services’ CEO, and HSBC Veteran, as Head of Business Development for the UK and Europe.
Responsible for spearheading Falcon’s expansion in the UK and European markets., Box brings more than 38 years of experience in financial services – in particular, receivables, asset-based lending, supply chain finance and trade finance.
“Having established ourselves as a leading global player in trade finance, we are always looking for new ways to evolve our business and support our clients in new markets,” said Will Nagle, CEO of Falcon Group. “Steve’s track record of developing teams, growing top-line revenue and boosting company profitability, combined with his knowledge of the corporate landscape – in the UK and beyond – along with his unparalleled experience in both banking and non-bank institutions will help us achieve this goal. We’re thrilled to have him onboard.”
Following Moorgate’s outreach, the news was covered by: BCR, Bridging & Commercial, TXF, Trade Finance, Asset Finance International, Business Money, Leasing Finance, FinExtra and FTSE Global Markets.
Despite credit growth returning to Australia since the global financial crisis, long-term factors, such as the consolidation of banks and Basel III’s risk-weighted capital framework, continue to pose barriers for businesses looking to access funding.
Certainly, Australia’s oligopoly of banks has been well-documented. According to EY, almost 90 percent of corporate funding in the country is provided by just four major banks, compared with 54 percent in Europe and 16 percent in the US.
Writing for Financier Worldwide, Emma Clark, Falcon’s Global Head of Marketing & Corporate Affairs, explains how changing regulatory and economic conditions are paving the way for a number of non-bank lenders to enter the market, each offering competitive and flexible alternatives to traditional funding sources.
Read the full article here.
Besides being a passion and a lifestyle for many collectors, art is also increasingly being seen as a safe investment at a time of great economic uncertainty. Having shown longevity and substance, many investors view art as an alternative asset class – and an ideal way to diversify their portfolios.
Meanwhile, the emergence of great wealth, especially in Asia, is further bolstering liquidity in the art market. With prices – particularly for high-quality works in established market sectors – rocketing since the early 2000s, many collectors find they have a great deal of capital tied up in their collections.
Writing for ePrivate Client, FFA’s Guy Vassiere argues that it is developments like these that continue to drive demand for a variety of specialised art and finance services among the financial community – as well as a greater focus on the role of art in overall wealth management. Of course, this also extends to art-backed lending.To read more, click here.
In an article for the Banker Middle East, Emma Clark, Falcon Group’s Head of Business Development, explores the ways in which slower growth and stagnating oil prices are weighing on the region’s corporates – particularly when it comes to business liquidity. Furthermore, the squeeze on working capital, while initially felt by smaller businesses, has since spread to mid-market and larger companies.
There are, however, several steps that corporates can take to improve cash management and boost liquidity, including turning to specialist financiers for short-term financial solutions. The full article can be read here.