MSIG Asia to strengthen Cyber and Financial Lines offerings in Asia with strategic appointment amid rapid market growth

MSIG Asia today announces the appointment of Cyber underwriter Alexander Liu as Vice President, reporting to Andrew Taylor, Senior Vice President and Head of Cyber and Financial Lines. The appointment reinforces MSIG’s commitment to addressing the evolving needs of the sector across the region.

The Cyber and Financial Lines insurance markets market is undergoing significant changes, with increased competition, shifting risk landscapes, and rising demand for specialized solutions. Trends such as stabilising premium rates, growing demand among SMEs, and advancements in underwriting practices highlight the critical need for expertise and innovation.

Taylor, a recognised thought leader in the Asia Pacific Cyber Insurance space, said: " The rapid transformation of the Asia Pacific Cyber and Financial Lines market presents tremendous opportunities for MSIG to capitalise on. Alex’s wealth of knowledge in creating customised solutions, and extensive international experience will further enhance our capabilities. I am confident that MSIG will continue to meet our clients' evolving needs while strengthening our position in this dynamic market.”

With over 22 years of global reinsurance and underwriting experience, Liu, together with Taylor, will lead MSIG’s efforts in advancing Cyber and Financial Lines offerings and supporting sustainable growth across the region.

The global cyber insurance market, fueled by increasing cyber threats and the need for robust risk mitigation strategies, is projected to grow from $16.66 billion in 2023 to approximately $120.47 billion by 2032, at a compound annual growth rate (CAGR) of 24.5%1. This strategic appointment aligns with MSIG’s focus on providing advanced and adaptive insurance solutions in a rapidly growing market, ensuring it remains a trusted partner for clients navigating the complexities of Cyber and Financial Lines insurance.

¹https://www.fortunebusinessinsights.com/cyber-insurance-market-106287