The Underwriting Agencies Council (UAC) has adopted a five-year plan to extend its reach into Asia.

UAC has identified Singapore, Vietnam, Cambodia, Myanmar and Hong Kong as markets that present business opportunities for its members, and membership opportunities for the council.

It aims to be “the resource of choice” for the underwriting agency sector, and the plan commits to helping members grow their businesses by “fostering a dynamic marketplace between underwriters and brokers”.

The Asian offensive will start with a three-day visit to Singapore in July by Deputy Chairman Lyndon Turner, associate director Chris Mackinnon and GM William Legge.

UAC Chairman Heath Amber says the five-year plan – including the push into Asia – will help maximise the value of council membership.

“At the core of UAC is our membership,” Mr Amber told insuranceNEWS.com.au. “The global insurance platform continues to grow and become more accessible. With this in mind, the UAC board is carefully charting broader market access to assist members into the future.”

Although keen to expand membership in Asia, Mr Legge says Australia and New Zealand remain the principal membership base.

On his return from Singapore, Mr Legge will visit New Zealand to promote the benefits of UAC membership.

In February the council held its inaugural New Zealand expo in Auckland as part of a push to establish a foothold in the country. The event attracted 250 visitors.

North Queensland has also been identified as a source of new members. Brisbane-based Greg Thompson, UAA Regional Manager North, is an associate director of UAC, and is leading the drive to develop membership in the region.

Mr Legge says it is important to set a five-year timeframe for UAC’s expansion plans, rather than one or three years.

“We know it’s going to be a long journey,” he told insuranceNEWS.com.au.