INSPECTING ARCHIVED INTELLIGENCE (OUTDATED VERSION).

Cyber Insurance Market Recovery in Asia

| 2026-05-29 14:35 HIGH LOW
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Executive Summary AI-generated
The Asia-Pacific region remains a hotspot for ransomware attacks, with countries like Vietnam and Japan being increasingly targeted. The lack of cyber insurance in this region makes it even more vulnerable to these threats. Japanese beer maker Asahi suffered a devastating attack by the notorious Qilin group in September 2025, leading to days-long production shutdowns. This incident highlights the dire need for organizations in APAC to invest in robust cybersecurity measures and consider purchasing cyber insurance as a financial backstop against operational disruption and business interruption costs.
Technical Mitigations AI-generated
• Implement robust cybersecurity postures to mitigate the threat landscape. • Enhance underwriting requirements for cyber insurance, making them more stringent as threats increase. • Offer targeted support and resources to small businesses in Asia to encourage standalone cyber insurance adoption.
Intelligence Metadata
Actors / Malware / CVEs / Campaigns
Operation RamzOperation RamzOperation Red CardOperation Red Card QilinQilin
Target & Sectors
AFRICA AFRICA LATAM LATAM ASEAN ASEAN MIDDLE_EAST MIDDLE_EAST manufacturingmanufacturing technologytechnology
Incident Timeline
‎April 2025
The Bank of China's Singapore branch suffered a ransomware attack in April 2025.
target_region Singapore
The Bank of China's Singapore branch suffered a ransomware attack in April 2025.
target_region China
The Bank of China's Singapore branch suffered a ransomware attack in April 2025.
tactic Ransomware
The Bank of China's Singapore branch suffered a ransomware attack in April 2025.
organisation The Bank of China's
The Bank of China's Singapore branch suffered a ransomware attack in April 2025.
organisation Asahi
Japanese beermaker Asahi suffered an attack at the hands of ransomware group Qilin in September of that year, leading to dayslong production shutdowns .
organisation Operation Red Card 2.0 Leads
Related: Operation Red Card 2.0 Leads to 651 Arrests in Africa Cyber consultancy S-RM published research in January observing a sharp increase in ransomware attacks across the region, with twice as many organizations being named on ransomware leak sites over the previous year.
organisation MEA
Similar to the Latin America (LATAM) and the Middle East and Africa (MEA) regions, Asian security postures are inconsistent across organizations and countries, a problem only exacerbated by the rapid digital expansion seen across the region.
‎2025/05/29
Cybersecurity threat actors, particularly The Gentlemen, targeted organizations in Asia with ransomware attacks.
tactic Ransomware
Qilin was the most active group targeting organizations in Asia last year, though that may be changing, as Cyble observed that The Gentlemen accounted for nearly one in four ransomware attacks.
malware Qilin
Qilin was the most active group targeting organizations in Asia last year, though that may be changing, as Cyble observed that The Gentlemen accounted for nearly one in four ransomware attacks.
organisation Aon
Risk management firm Aon said in a report last year that cyber insurance had reached only about 6% of Asia's addressable market.
general_metric 6 %
Risk management firm Aon said in a report last year that cyber insurance had reached only about 6% of Asia's addressable market.
‎Q1 2026
Cyble's Q1 2026 APAC report noted a significant increase in ransomware incidents targeting India.
tactic Ransomware
Cyble's Q1 2026 APAC report further noted massive ransomware targeting in India, with a 165% jump in incidents between Q1 2025 and Q1 2026.
target_region India
Cyble's Q1 2026 APAC report further noted massive ransomware targeting in India, with a 165% jump in incidents between Q1 2025 and Q1 2026.
target_region APAC
Cyble's Q1 2026 APAC report further noted massive ransomware targeting in India, with a 165% jump in incidents between Q1 2025 and Q1 2026.
organisation Cyble's
Cyble's Q1 2026 APAC report further noted massive ransomware targeting in India, with a 165% jump in incidents between Q1 2025 and Q1 2026.
general_metric 165 %
Cyble's Q1 2026 APAC report further noted massive ransomware targeting in India, with a 165% jump in incidents between Q1 2025 and Q1 2026.
general_metric 2025 Q1
Cyble's Q1 2026 APAC report further noted massive ransomware targeting in India, with a 165% jump in incidents between Q1 2025 and Q1 2026.
‎between 2024 and 2025
Asian businesses experienced a 100% increase in cyber insurance adoption between 2024 and 2025.
general_metric 100 %
" And there has apparently been growth: Asian businesses at all levels saw a more than 100% increase in cyber insurance adoption rate between 2024 and 2025, the report said.
‎2026/05/29
The insurance broker UIB and cyber-risk analytics vendor CyberCube published a report detailing the state of Asia's cyber insurance market, citing underpenetration in developed economies like Japan and South Korea as an opportunity.
organisation Interpol
Related: Interpol's 'Operation Ramz' Pioneers Cross-Region Collabs in Middle East
organisation Cyber Insurance Market Shows Signs of Life
Asia's Cyber Insurance Market Shows Signs of Life.
organisation CyberCube
Insurance broker UIB and cyber-risk analytics vendor CyberCube this week published a report detailing the state of cyber insurance in Asia.
organisation UIB
Why Cyber Insurance Adoption Lags in Asia Organizations in Asia lagged behind on getting cyber insurance for a variety of reasons, namely the mixed quality of cybersecurity postures, recent rapid digitalization, and a threat landscape that ramped up in tandem with said digitization, according to UIB and CyberCube's report.
Intelligence Sources
Dark Reading 2026-05-29
Dark Reading 2026-05-29