Howden Re has identified the Asia-Pacific region as a key area for the next stage of growth in the global cyber insurance market. In an interview with The Insurer, senior leaders from Howden Re discussed how the market is evolving and what will be required for continued progress.
Luke Foord-Kelcey, Managing Director and Global Head of Cyber at Howden Re, said: “Cyber is undeniably maturing into a distinct asset class, and that trend is particularly visible in Asia where carriers are rapidly scaling their risk assumption. This growth requires vigilance.”
David Flandro, Head of Industry Analysis and Strategic Advisory, commented on the importance of analytics in this expansion: “Tomorrow’s cyber market will be fuelled by insight, especially during the expansion phase we are witnessing in Asia. Robust models, richer data and advanced analytics are the engines that will unlock fresh capacity, attract new participants and contain accumulation risk.”
Lawrence Chong, Regional Head of Cyber & Tech for Asia at Howden Re, added: “Cyber risk will remain a constant in Asia’s digital economies. The question is how we stay ahead of the curve to manage that risk more effectively for our clients, our industries and the wider global community.”
The company’s recent report titled "Into the Cyberverse" emphasizes that success in APAC’s cyber sector will depend on turning data-driven insights into competitive advantages rather than relying solely on instinct.
The full interview can be read at The Insurer website. More details about Howden Re's analysis can be found in their "Into the Cyberverse" report.