Singapore-based Criterion Underwriting opened for business last week and has revealed plans to expand to Australia.

The new managing general agent underwrites and manages specialist products in cyber, financial lines and marine on behalf of insurers and reinsurers.

It is focusing for now on the Singapore market, which is a regional hub for financial services groups and other multinational companies.

“Criterion Underwriting is looking into offering our products to the Australian market in the near future,” CEO Jonathan Ranger told insuranceNEWS.com.au.

Singapore’s Asia Re Holdings and UK private equity investor BP Marsh & Partners are the key shareholders of Criterion Underwriting.