In a year that saw the unexpected upheaval and transformation of businesses and societies the world over, the credit and political risk insurance (CPRI) market was no different – having to adapt to the constraints imposed by the COVID-19 pandemic in order to continue serving its clients. James Esdaile, Managing Director of BPL Global, explains how the sector has fared and how it is set to develop given new trends and evolving client demands.
The push on global trade to continue accelerating has not let up; but without sufficient trade finance, it will be restrained from keeping up the pace. With increasing appetite for purchasing pools of receivables—but a keen awareness of the associated risks—a growing number of banks are turning to Excess of Loss (XoL) trade credit insurance. How are banks leveraging this type of insurance to grow their trade-finance portfolios?