BPL Global has been named a “Leader in Trade for Resilience” at Global Trade Review’s (GTR) 2021 Awards in the Insurance category.
While the full direct impact of the coronavirus pandemic on the credit and political risk insurance (CPRI) market remains to be seen, for the private insurance market overall, industry losses are forecast to exceed US$100bn – surpassing even those that arose from the 9/11 attacks. The pandemic, however, was not the only challenge for the CPRI industry in 2020 – the continuing hardening of the market accelerated by the pandemic, alongside low commodity prices in early 2020, worked to further impact CPRI demand and supply.
While the year undoubtedly took its toll, GTR’s judging panel highlighted how BPL Global had “shown strength in current operations” while “finding ways to grow and innovate to the benefit of clients” in 2020.
Sian Aspinall, Managing Director, BPL Global said: “We are honoured to have been recognised by GTR for our efforts to ensure resilience for our business and our clients over the past year. Driven by this commitment, we were able to successfully adapt to the changing headwinds of 2020, while providing close guidance for our clients through regular, detailed update papers to help them use CPRI to navigate the uncertainty and pinpoint new avenues of growth.”
She continued: “We were also able to grow our global footprint through strategic partnerships with leading specialist brokers in Israel and Canada, as well as responding to client demand for coverage in new areas– notably in the renewables space – which we hope to continue in 2021 and beyond.”
A full writeup of GTR’s Leader in Trade awards can be found here.