UK-based insurer Catlin has opened a branch office in Singapore that will allow it to write business outside the Lloyd’s market.

CEO Asia-Pacific Mark Newman says the branch will give clients and brokers choice in sourcing insurance and reinsurance.

He says the arrangement aligns Asia-Pacific operations with Catlin’s North American and European divisions, which can write on behalf of Lloyd’s and also outside the market.

It does not signal a move away from the Lloyd’s platform, he told insuranceNEWS.com.au.

Although Catlin’s Lloyd’s licence in Singapore is “pretty flexible”, there are some classes it cannot write. Catlin has also hit caps that ceding companies apply to Lloyd’s when they source from a group of underwriters.

The new branch, a subsidiary of Catlin Bermuda, can write direct property and increase its casualty offering.

Mr Newman says although Australian clients will have access to the new arrangement, Catlin has not targeted business here, mostly because of regulatory requirements for domestic carriers ceding offshore.

Catlin has operated in Singapore since 1999, with all business conducted through Lloyd’s. Mr Newman says it makes sense to expand there due to the depth of broker talent, sound regulation and Singapore’s regional insurance hub strategy.