New, emerging risks present opportunities for insurers: MAS

Singapore

EVEN as global economic growth remains sluggish and alternative capital floods the insurance sector, driving down premiums and narrowing profit margins, new and emerging risks present opportunities to the industry, especially in under-insured Asia.

In her illustration of the sector's outlook at the 13th Singapore International Reinsurance Conference on Tuesday, Jacqueline Loh, deputy managing director of the Monetary Authority of Singapore (MAS) cited cyber, liability, supply chain and reputation - mostly intangible - as examples of these new and emerging risks.

Cyber risk, in particular, costs the global economy between US$30…