London, UK/Walpole, MA/New York, NY. 11th October 2017. BPL Global and EIA Global are delighted to announce that they have signed a memorandum of understanding to form a joint venture insurance broking company in New York. The joint venture will focus on global financial institutions which will benefit from its globally-integrated specialist credit and political risk insurance (CPRI) broking services. As client demand for such services dictates, the joint venture will expand its offerings to a growing list of financial institutions and multinational corporations with a worldwide footprint.
The new venture will trade as BPL Global and will be led by John Lavelle, EIA Global’s Senior Managing Director.
Charles Berry, Chairman of BPL Global, commented: “This is an important step for BPL Global. The joint venture formalizes our long standing partnership with EIA Global, the leading CPRI broker in the U.S., and allows us to provide our international clients with a seamless service across the Americas to complement our existing capabilities in the EMEA and Asia Pacific regions. It completes our identity: specialist; independent and employee owned; and now truly global.”
Al Giandomenico, President of EIA Global, stated: “We are pleased to be joining forces in New York with BPL Global, the London-based broking company that brings an extraordinary level of expertise in the CPRI market and shares our unwavering commitment to providing first class services to clients. EIA Global launched its strategic initiative in New York with global financial institutions when John Lavelle joined us in May 2016. We have made excellent progress, but this joint venture will have an immediate multiplier effect on our growth and ability to provide top tier CPRI services to our existing and prospective clients.”
Mr. Giandomenico added: “EIA Global will continue serving its clients in the multi-buyer sector and domestic financial institutions that do not require a worldwide reach and will do so with the same expertise and commitment as we have done for over 35 years. The good news for our clients is that the joint venture will enhance EIA Global’s abilities to serve them effectively and efficiently.”