Insurance broker calls new Tokyo office a “signal of intent”

BPL, the world’s leading independent credit and political risk insurance (CPRI) broker, has opened a new office in Japan, marking a significant step in the firm’s continued global expansion.

The move reflects growing demand from Japanese financial institutions, trading houses, multinational corporates and investors for specialist credit and political risk insurance solutions. This is particularly the case for Japanese banks seeking credit insurance to help secure regulatory capital relief and support portfolio and risk management.

The Japan office, located in Tokyo, will focus on delivering tailored CPRI solutions across non-payment insurance, political risk cover and structured portfolio transactions, drawing on BPL’s four decades of market leadership and operations in the world’s major CPRI hubs – London, Paris, New York, Singapore, Hong Kong and Geneva. The company office is in the process of an application for registration as an insurance broker with the regulatory authority in Japan. It is anticipated that the company will have been registered as an insurance broker later this year.

The office will be led by Kenichi “Ken” Iwakura, who joins from MUFG Bank, where he held senior leadership roles across the Global Corporate and Investment Banking division, leading structured finance and corporate banking teams in Tokyo, Hong Kong, Singapore and London. He brings over 25 years of experience in corporate coverage for global financial institutions and corporates in Japan, including origination of cross-border specialised lending, such as non-recourse cash-flow financing and asset-based financing.

James Reynolds, Group Chief Executive Officer, BPL, said: “The opening of our Japan office is a signal of intent – we mean to be proactive in enhancing our service for our clients in Japan and APAC, while using the firepower from our recent minority investment from Preservation Capital Partners for considered but confident growth.”

Ken Iwakura, Chief Executive Officer, BPL Japan, said: “I am excited to join the BPL team and lead the group’s efforts to enter the Japanese credit and political risk insurance market, at a time of growing demand. I look forward to working with some of BPL’s largest financial institutions, delivering value and solutions tailored for Japan.”