In light of recent geopolitical events, Anna Morgan, Legal Director at BPL Global, addresses some of the questions that have arisen around sanctions clauses in non-payment policies, specifically the market standard ‘LSW 1865’, and sets out some key points to consider. Is non-payment due to sanctions covered under a standard non-payment policy wording? The short […]
Financial Institutions
We count among our clients many of the world’s leading banks and financial institutions, assisting them in all aspects of their lending activities. We have led the way in developing specialty credit insurance products that provide financial institutions with protection against obligor default while also qualifying for regulatory capital relief.
Our Products: Financial Institutions
Comprehensive Non-Payment Insurance:
Excess of Loss Insurance:
Political Risk Insurance:
Our expertise and experience
At BPL Global, we pride ourselves on our technical knowledge and expertise developed over 35 years in the industry, enabling us to provide high-quality advice and tailored insurance solutions for financial institutions.
We have led the way in developing policies which qualify for regulatory capital relief by meeting the stringent requirements of credit risk mitigation.
We have extensive global experience, providing cover for financial institutions’ lending and investment activities in both OECD and developing economies, and encompassing everything from short term trade finance and asset-backed finance through to clean corporate loans.
We deal with over 50 insurers around the world that specialise in credit and political risk insurance (CPRI) with an aggregated capacity per risk of approximately US$3 billion and tenor capability of up to 20 years.
World Leading Expertise
We have unrivalled expertise in providing credit insurance products for financial institutions that also qualify for regulatory capital relief, and our claims record is testament to our leading position in the CPRI market.
Our business portfolio’s aggregated exposure as at January 2020 was US$45.8bn, of which 75% relates to Medium-Long Term (MLT) non payment risk. We have collected over US$880m of claims for Financial Institutions.
Our Products
Our comprehensive non-payment insurance provides cover against default by public and private obligors without prescribing causation, thereby protecting financial institutions from both commercial and political risks.
We can also provide protection against the non-honouring of guarantees or letters of credit, whether issued by public or private sector banks. Similarly, our policies can be designed for financial institutions participating in structured trade transactions.
We have developed excess of loss insurance products that can provide up to 100% cover for financial institutions purchasing pools of receivables, enabling them to achieve regulatory capital relief under Basel III / CRD IV.
While the majority of our clients require comprehensive non-payment coverage, we can also provide bespoke political risk insurance that provides protection against political perils only – particularly relevant for project finance. This principally covers expropriation, currency and political security risks.
Why work with us
We pride ourselves on providing the highest levels of service to financial institutions across the entire insurance placing process, and have some of the most experienced brokers in the CPRI market.
Drawing on our strong technical expertise and access to a wide network of insurers, we are in a position to exploit the competitive dynamics of the insurance market to secure the right coverage at the best price for our clients.
Our products are validated by ensuring that claims are paid in full and on time, and this underpins every aspect of our client servicing to financial institutions. Since BPL Global’s establishment in 1983, we have settled over US$2.8 billion of claims for our clients, of which over US$880 million has been for financial institutions.
We structure our broking teams, which are each lead by an experienced director, to meet clients’ specific needs.
Find out what sets us apart:
In the news
BPL Global’s Gregory King-Underwood speaks to Uwe Haug, Head of Underwriting Strategy and Business Development – Financial Risks Reinsurance at Liberty Mutual Reinsurance, delving into the January 1st renewal season and how recent Covid-19 variants have impacted reinsurers. They also discuss the difference in performance between Lloyd’s and Company markets, and Private carriers versus ECAs, […]
BPL Global has joined a City-wide effort to support the East End Community Foundation (EECF) in the charity’s Covid relief fund – the Life Chances campaign – as a founding campaign partner. The EECF has launched the Life Chances campaign to support vulnerable and underrepresented communities in the East End of London that have been […]
We are proud to announce that Geraldine Gan and James Lord have been recognised in the Political Risk and Credit category at the prestigious 2021 Lloyd’s Asia Broker Awards. Broker Geraldine Gan and Assistant Director James Lord have made a notable impact on Lloyd’s platform in Singapore this year, with the award reaffirming the professionalism, […]
Sian Aspinall, Joint Managing Director at BPL Global, sits down with Markel’s Trade Credit Head of Business Development, Simon Philpin for the latest instalment of the ‘Class Conversation’ podcast, discussing key issues and developments in the credit and political risk insurance market Sian and Simon take an in-depth look at the latest trends in credit […]
In this episode of BPL Pulse’s podcast, Tim Hughes, Director at BPL Global, speaks to Andrew Beechey, Managing Director at Tierra Underwriting, about renewable energy in the Credit and Political Risk Insurance market. “Oil and gas have been the backbone of the CPRI market for many years, but we now know there is going to […]
