BPL

What BPL does

BPL (Berry Palmer & Lyle) is a specialist insurance broker operating exclusively in credit and political risk insurance (CPRI). Founded in London in 1983, the firm serves multinational corporations, banks and non-bank financial institutions, development finance institutions (DFIs), export credit agencies (ECAs), commodity traders, corporate investors and exporters through seven offices in London, Paris, New York, Singapore, Geneva, Hong Kong and Tokyo. BPL is majority employee-owned with a significant minority stake held by Preservation Capital Partners since March 2025, and operates as an independent broker acting solely for policyholders, without conflicting insurer obligations.

The firm's product suite spans Comprehensive Non-Payment Insurance, Trade Credit Insurance, Political Risk Insurance, Surety, Significant Risk Transfer (SRT) transactions for Basel III/CRD IV capital relief, Captives, Funded Solutions and Reinsurance & Portfolio Solutions. Technology infrastructure centres on BPL Sphere, a digital portfolio management platform providing clients visibility over enquiries, bound policies, insurer exposure, invoicing and claims, alongside industry-first API integrations with Allianz Trade and Euler Hermes via the Whitespace (Verisk) digital trading platform. A dedicated reinsurance division, BPL Re, was launched in May 2026, extending BPL's value proposition to insurance carriers.

BPL generates revenue principally through commissions on insurance placements plus advisory fees on structured transactions such as SRT, captives and funded solutions. The firm works with over 60 insurers and tracks more than 2,500 enquiries annually, with an insured book exceeding US$100 billion. The company has collected over US$1 billion in claims for financial institution clients since 2007 and handled approximately 33% of all bank non-payment claims in 2023, evidencing strong market position in a vertical dominated by long-tenured client relationships and regulatory-driven demand.

Name

BPL

Legal name

Berry Palmer & Lyle Limited

Website

https://bpl-insurance.com

Company type

Private

Founded year

1983

Operating status

Operating

Headcount range

101–250 employees

Short description

BPL is a specialist insurance broker focused exclusively on credit and political risk insurance (CPRI), serving multinational corporations, financial institutions, DFIs/ECAs, commodity traders and corporate investors through seven global offices across three continents.

Ownership category

akta.pro rank

Product category

Credit and Political Risk Insurance Broking

NAICS

Agencies, Brokerages, and Other Insurance Related Activities (5242), Insurance Agencies and Brokerages (52421)

SIC

Insurance Agents, Brokers & Service (6411)

akta.pro primary industry

Commercial Lines Insurance Brokerage (FSAEADAB)

Keywords

• Credit risk insurance
• Political risk insurance
• Insurance brokerage
• Trade credit insurance
• Reinsurance broking

Headquarters

HQ city

London

HQ country

United Kingdom

HQ region

Europe

Offices7 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure, Others

Revenue model

1. Insurance Broking Commissions: BPL acts as intermediary between policyholders (multinational corporations, financial institutions, investors, public agencies) and insurers. Revenue generated through commissions on insurance placements, typically a percentage of premiums written. The company has collected over US$1bn in claims for financial institution clients since 2007.
2. Specialized Advisory Services: BPL provides specialized CPRI advisory including Significant Risk Transfer (SRT) transactions, reinsurance treaty solutions, and Funded Solutions for capital management strategies. New BPL Re division offers reinsurance broking services to carriers.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels5 records

Core offering

BPL is an independent insurance broker that places credit and political risk insurance (CPRI) on behalf of multinational corporations, financial institutions, global investors and public agencies. The firm intermediates between policyholders and a network of 60+ insurers, arranging coverage such as non-payment insurance, trade credit insurance, political risk insurance, surety, significant risk transfer (SRT), captives, funded solutions, and reinsurance solutions, while providing ongoing claims handling and portfolio management through its BPL Sphere digital platform.

Product overview

BPL (Berry Palmer & Lyle) is the world's leading broker specializing exclusively in credit and political risk insurance (CPRI). The core offering consists of insurance broking services for multinational corporations, financial institutions, global investors and public agencies. Key products include Comprehensive Non-Payment Insurance, Trade Credit Insurance, Political Risk Insurance, Surety, Significant Risk Transfer (SRT), Captives, Funded Solutions, and Reinsurance & Portfolio Solutions. The firm operates through its main BPL brand and has expanded into dedicated reinsurance services through BPL Re. Additional offerings include BPL Sphere (digital portfolio management platform) and BPL Impact (charitable giving programme). The company maintains global offices in London, Paris, New York, Singapore, Geneva, Hong Kong and Tokyo.

Differentiator

Problem solved

Functional benefit

Brands

• BPL Re: Dedicated reinsurance division specializing in credit, political risk, and surety insurance. Operates as a distinct business division within BPL Group with dedicated team and leadership.

Products and services

• BPL (Berry Palmer & Lyle) Insurance Broking World's leading broker specializing exclusively in credit and political risk insurance (CPRI) for multinational corporations, financial institutions, global investors and public agencies. Facilitates global trade, investment and lending worldwide.
• Comprehensive Non-Payment Insurance Provides cover against default by public and private obligors for any reason, protecting clients from both commercial and political risks. Can also provide protection against non-honouring of guarantees or letters of credit.
• Trade Credit Insurance
• Political Risk Insurance
• Surety
• Significant Risk Transfer (SRT)
• Captives
• Funded Solutions Capital and credit management strategies including repackagings or 'repacks' for banks and institutional investors. Platform enables cash collateralised and insured risk participation transactions for efficient capital and credit allocation management.
• Reinsurance & Portfolio Solutions
• Pre-payment Insurance
• Investment Insurance
• Political Violence Insurance
• Pre-shipment and On-demand Bond Insurance
• BPL Re Dedicated reinsurance division providing specialist expertise and tailored solutions to carrier relationships across credit, political risk and surety specialties. Operates as a distinct division within BPL Group with dedicated team and leadership.
• BPL Sphere

Quantifiable outcome

• US$1bn+ claims collected for financial institutions since 2007
• +4 more outcomes

Named customers5 records

Segments6 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

Feature3 records

Partnerships

Four partnerships are on record, tiered core and strategic.

• Funded Solutions ClientscoreOthers · 3 November 2025BPL's Funded Solutions team offers capital management strategies to banks, institutional investors, and insurers. Provides platform for cash collateralised and insured risk participation transactions.
• Allianz TradecoreTechnology or Integration · 18 June 2024Industry-first collaboration launching a fully integrated API-powered enquiry system via Whitespace (Verisk) platform. Transforms how underwriters and brokers share enquiry data in bank non-payment insurance space. Replaces manual data entry with instant seamless exchange.
• Whitespace (Verisk)coreTechnology or Integration · 18 June 2024Independent digital trading platform provider enabling the API integration between BPL and Allianz Trade. Ensures independence, data security, and market-wide scalability of the digital enquiry system.
• Green Guarantee Company (GGC)strategicStrategic or Co-development Partner · 4 November 2021BPL appointed as insurance broker for GGC to provide risk transfer solutions for green financing innovation in emerging markets. GGC is the first specialist guarantor backing climate bonds issued in developing markets by multilateral development banks. Partnership with Development Guarantee Group.

Scale indicators8 records

Recent moves6 records

Expansion highlights8 records

Direct peers

• RPS Group (Risk Placement Services): Specialty wholesale insurance broker with a strong credit and political risk practice serving large financial institutions and corporates. Closest scale and specialty competitor to BPL in the London and international CPRI market.
• Howden Group: London-headquartered specialty insurance broker with credit and political risk capabilities serving financial institutions and corporates globally. Most directly comparable specialist competitor to BPL in CPRI placement and advisory.
• Miller Insurance Services: London-based specialty insurance broker active in political risk, credit and trade credit insurance. Comparable in scale and Lloyd's market positioning to BPL, with overlapping financial institution and corporate client bases.
• Optio Group: Specialty insurance group built through M&A roll-up of niche Lloyd's and London market brokers. Increasingly active in political risk and credit broking, representing an emerging specialist competitor for BPL-style mandates.
• Chaucer Insurance Group: Specialty insurer and reinsurer with capability in political risk, credit and surety lines. Provides both underwriting and broking-adjacent capacity that competes with BPL's placement relationships in Lloyd's and London market specialty lines.

Broad incumbents

• Aon: World's largest insurance and reinsurance broker with significant credit and political risk capabilities and proprietary digital trading platforms. BPL's specialist CPRI franchise directly competes with Aon's credit solutions team across global accounts.
• Willis Towers Watson (WTW): Global advisory and insurance brokerage firm with a substantial credit and political risk practice. BPL's new COO (Emilia Levett) joined from WTW, highlighting the competitive overlap in CPRI talent and client mandates.
• Lockton: World's largest independent insurance broker with growing specialty capabilities including in credit and political risk. Competes with BPL for large multinational and financial institution mandates, particularly in US and London markets.
• Marsh: Global insurance brokerage powerhouse with a dedicated credit specialty practice that competes with BPL across trade credit, political risk and non-payment insurance for financial institutions and multinationals. Far broader in scope but overlapping product set.
• Guy Carpenter: Global reinsurance intermediary, BPL Re's primary competitive set (BPL Re's head Alistair McVeigh joined from Guy Carpenter). Competes directly with the newly launched BPL Re division for credit, political risk and surety reinsurance mandates.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat7 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/bpl-global

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles16 records

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about BPL