A recent report by specialist insurer Beazley has identified a growing gap between executive confidence in cyber resilience and the actual complexity of emerging threats in Asia, particularly in Singapore.
In its newly published report “Risk & Resilience: Spotlight on Tech Transformation & Cyber Risk 2025,” the insurer found that while more executives view cyber threats as a top risk, many also report increased confidence in their organisations' ability to manage such threats.
In Singapore, 26% of respondents identified cyber risk as their primary business threat, up from 24% the previous year.
At the same time, perceived resilience to cyber events rose from 83% to 87%.
This shift suggests that while threat awareness is growing, organisations may be underestimating the evolving nature of cyber attacks and the sustained response required to manage them effectively.
The report also explored attitudes towards technological transformation, with a focus on artificial intelligence (AI).
Among the Singapore-based executives surveyed, 85% expected AI to improve their organisations’ economic performance, while 68% anticipated workforce reductions resulting from AI implementation over the next 18 months.
Other technology-related concerns were noted, including rising apprehension around intellectual property protection, data governance, and regulatory compliance.
Concern over technology obsolescence, however, declined slightly, from 29% in 2024 to 26% in the current survey.
Teck Siong Ng, regional manager, cyber risks – Asia Pacific, at Beazley, said the latest data shows a contradiction between executive confidence and the sale of emerging cyber threats.
“In an era of accelerating cyber risks, businesses across the APAC region need elevated cyber resilience. Our Risk & Resilience data uncovers a clear paradox between the realities of the complex and growing risk landscape and the current level of concern regarding preparedness and perceived resilience, among executives in the region,” he said.
He added that many organisations are taking steps to address these risks. About 86% of APAC executives are enhancing cybersecurity protocols with third-party vendors, and 40% are allocating budget for improved cyber defences this year.
WTW’s 2024/25 Reputational Risk Readiness Survey, which polled 500 senior executives across the globe, found 65% of respondents cited cyber attacks as the most significant reputational risk to their firms, up from 52% in 2023.
Environmental and governance risks also saw increased mentions, reflecting shifting stakeholder expectations and regulatory scrutiny.
Aon’s 2025 Cyber Risk Report provided additional insight into the financial consequences of high-profile cyber incidents. The study examined over 1,400 global cyber events and found that 56 of them – defined as resulting in significant media attention and a subsequent drop in share price – led to an average 27% decline in shareholder value. This compares to a 9% average decline found in Aon’s 2023 analysis.
Malware and ransomware were the most frequent causes of reputational impact, accounting for 60% of the most damaging events.
