Cybersecurity tops risk list for APAC insurers

Cybersecurity has emerged as the top concern for insurance firms in Asia Pacific, cited by 62% of chief risk officers in the region, according to the latest EY-IIF Global Insurance Risk Management Survey. Conduct risk followed at 46%, while third-party, operational resilience, compliance, and interest rate risks each registered 31%. The study, which surveyed 86 firms across APAC, the Americas, and EMEIA, highlighted a more complex risk landscape amid regulatory shifts, geopolitical tensions, and fast-paced technology adoption. Long-term, APAC insurers also flagged geopolitical instability and cybersecurity as equally pressing threats, while global respondents ranked AI and machine learning risks next after cybersecurity. EY’s Tze Ping Chng said the region’s insurers are navigating “unprecedented complexity” as they adjust to evolving risk dynamics.