Independent broker BPL has announced the launch of a funded solutions team, offering capital management strategies to a range of institutions from trade finance banks to institutional investors.
London-headquartered BPL, which specialises in credit and political risk insurance, said the growth of the credit insurance market over the last decade has resulted in a build-up of capital allocated to insured assets.
In response, its funded solutions team will offer a platform for cash collateralised and insured risk participation transactions, improving capital management for risk sellers while enhancing buyers’ access to low-risk assets, BPL said.
The product is targeted at existing credit insurance customers as well as new market entrants, and will also be expanded to institutional investors, which BPL described as a “relatively untapped credit insurance client base”.
Charlie Radcliffe, who was named as BPL’s chief commercial officer in August, said the company believes its offering is “unique on the broking side in terms of the level of expertise we now have”.
“It positions both existing and prospective clients to capitalise on the type of innovation in our market that has led to its impressive growth in recent years,” he said.
George Biddulph and Harriet Rowland Clark have been named as directors of the funded solutions team. Biddulph is tasked with establishing the platform for banking clients, while Rowland Clark is responsible for tailoring repackaging solutions for BPL clients.
Riz Sheikh is the team’s significant risk transfer lead, and Gregory King-Underwood leads its reinsurance and portfolio solutions offering.
Biddulph told GTR the move comes as trade finance banks look to build on the “proven and successful relationships with the credit insurance market” developed over several years.
“They are now looking for innovative and transparent capital management strategies in order to continue to grow and further service their client needs,” he said.
“Our new funded solutions platform is absolutely aimed at these banks and will also be an attractive fit for other areas of their business, including medium-term export finance books.”
