Speaking at Trade & Forfaiting Review’s annual insurance round-table event, Charles Berry, Chairman, BPL Global, discussed a host of issues concerning the political risk insurance market with peers from Marsh, Coface, Aon, Dentons and Beazley.
Commenting on the PRI market’s risk appetite, Berry said: “The market is happy to write business in countries like Vietnam and Mongolia, where it makes sense. The market is open. Elsewhere, we cover a lot of risks in difficult markets. The insurance industry, of which credit and political risk insurance is a small part, can take these risks; it is in robust shape and has been functioning perfectly normally throughout the financial crisis. Furthermore, it has been dealing routinely with losses arising from natural catastrophes measured in billions.”
BPL is the world’s leading broker specialising exclusively in credit and political risk insurance (CPRI) for multinational corporations, financial institutions, global investors and public agencies.
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