BPL and EIA form new joint venture in New York

Specialist credit and political risk insurance brokers BPL Global and EIA Global have signed a memorandum of understanding (MoU) to form a joint venture insurance broking company in New York, focusing on global financial institutions.

The new venture will trade as BPL Global and will be led by John Lavelle, EIA Global’s senior managing director.

"This is an important step for BPL Global," Charles Berry, chairman of BPL Global, commented. "The joint venture formalizes our long standing partnership with EIA Global, the leading CPRI broker in the US, 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, said: "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."

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."

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