Berry Palmer & Lyle (BPL Global), a political risk insurance broker, has opened a Singapore subsidiary, following on from the opening of its Hong Kong branch in early 2011.

Berry Palmer & Lyle (BPL Global), a political risk insurance broker, has opened a Singapore subsidiary, following on from the opening of its Hong Kong branch in early 2011.

Anthony Palmer (pictured), one of the founding directors of the firm in 1983, is the new company’s chief executive with Harry McIndoe as his deputy. Both have relocated from London to set up the new office.

Additional team members are being recruited locally.

“Our immediate focus will be local financial institutions including the banks, where we see the biggest gap in the market for our services, although we will also be working with the Singapore subsidiaries of our multinational clients,” says Palmer. “These include commodity traders and exporters -a specialist area for BPL Global and a good fit with Singapore’s position as the regional hub for trade and finance.”

Located in Raffles Place in the heart of Singapore’s central business district, BPL Global is committed to Singapore as its Asian head office alongside its Hong Kong branch which is headed by Peter Gilbert.