New Zealand insurer Delta has opened its first overseas office, in Singapore, under plans to expand in international markets.

MD Ian Pollard says Singapore is attractive due to its progress towards becoming a digital economy, and it offers a base to explore other regional opportunities.

Delta launched in 2014 as a specialist liability underwriting agency, and says it has almost 7000 clients in New Zealand.

“Singapore provides an operating environment where Delta’s business methodologies, which have proven to be so disruptive in New Zealand, are easily transferrable,” Mr Pollard said.

Delta says it is the first cyber and technology Lloyd’s coverholder in Asia, and demand for cyber insurance in the region is expected to grow rapidly during the next decade.

“Our work in New Zealand with the National Cyber Policy Office and Connect Smart has helped shape and improve New Zealand’s cyber-security framework, particularly for business, [and] we see Delta undertaking a similar role in Singapore,” Mr Pollard said.

The Singapore office will work with brokers and insurance agents initially, with plans to expand to other distribution networks.

Delta, which has offices in Auckland and Wellington, also plans to expand in Christchurch in the current quarter.