Global cyber insurance growth slows for third consecutive year amid stiff market competition: Swiss Re
Although North America and Europe dominate the cyber insurance market, Swiss Re noted that there is significant potential for future growth in the Asia Pacific Region.
High-value claims hound global cyber portfolios
Claims above US$1m made up 88.1% of AXA XL’s global cyber losses over the last decade, with ransomware’s share of claims continuing to rise.
Time zone and sector risk add complexity to cyber insurance in Asia Pacific
APAC cyber incident frequency rises 134% over four years, as AI threats, zone positioning, and hidden SPOFs push cyber risk beyond technical boundaries.
Midyear renewals see rates continue to soften
Abundant capacity, stable loss activity underpin competitive terms for cedants in key APAC renewal markets.