Lloyd’s of London coverholder Kita, a specialist carbon insurance company, has expanded its global footprint covering the Asian market with a new Singapore branch.

Kita is now authorized to insure companies in Singapore, in addition to existing jurisdictional coverage for companies in the UK, USA, Canada and Switzerland. 

The move to Singapore, which is building a growing ecosystem of green, sustainability and carbon  business solutions, is another step in the UK-based company’s expansion strategy to help de-risk investment by companies based in countries with impactful and active carbon market engagement. 

Kita bridges the insurance and carbon markets, offering a customized portfolio of carbon insurance products that act as a stamp of confidence to carbon projects, buyers of carbon credits and intermediaries operating within the sector.

Among the firms innovative insurance products includes Carbon Purchase Protection Cover, which protects financiers of forward-purchased carbon credits against under delivery.

This Singapore opening also follows recent announcements from Kita, including their high-profile memorandum of understanding with Germany’s PYREG – the European market leader in high-tech plant engineering for the production of biochar – to deploy insurance for the world’s largest durable biochar carbon removal project pool. 

By increasing their presence in Asia, Kita aims to open the door for even more market participants to protect their high-quality carbon credit transactions with specialist carbon insurance products.