A new framework designed to transform the cyber reinsurance landscape in the Asia Pacific (APAC) region has been launched by global reinsurance brokerage and risk management firm Gallagher Re. The new initiative aims to align the growing demand for cyber reinsurance in APAC with global capacity, offering a flexible and comprehensive solution to meet the region’s unique needs.
According to Gallagher Re the untapped potential of the cyber market lies in fostering growth through international markets and innovative cyber products rather than relying on saturated markets. The newly developed facility framework serves as the infrastructure to support this vision, enabling the industry to “mine for growth” rather than “pan for growth”.
A press release issued by the brokerage said, “The framework is designed to match cyber capacity with cyber need, across all market segments, from personal lines to SMEs, midmarket, and large enterprises.
“The flexibility on offer will also enable the framework to encompass all structures of cyber reinsurance, including white labelling, facultative, and treaty, and a wide range of cyber products, such as cyber, technology (Errors…
