Media OutReach

Allianz Commercial: Cyber insureds gain momentum against attackers, but supply chain challenges remain

Published

8 months ago

24/09/2025

Ransomware is the biggest loss driver, accounting for 60% of the value of large cyber claims (>€1mn), while threats posed by supply chains, privacy regulation and social engineering require attention, especially as an uptick in loss activity is expected from Black Friday onwards.
Despite the increasing level of attacks, analysis of Allianz Commercial cyber claims shows severity is down by 50% and large claims frequency by 30% during H1 2025 to date, driven by larger companies’ elevated detection and response capabilities.
Cyber resilience gaps in Asia Pacific persist amidst an increasingly threatening landscape.

SINGAPORE – Media OutReach Newswire – 24 September 2025 – The cyber risk and insurance landscape in 2025 reveals a complex and evolving threat environment. Large insured companies are becoming increasingly resilient against cyber-attacks with strengthening of cyber security and preparedness and response capabilities helping to mitigate the impact of some of the large cyber losses in 2025 to date. However, the reliance on digital supply chains, impact of expanding privacy regulation, and more sophisticated social engineering attacks targeting employees are also broadening the scope of potential losses for all companies, according to the latest Cyber Security Resilience Outlook from Allianz Commercial.

During the first half of 2025, analysis of Allianz Commercial cyber claims shows the overall frequency of notifications was in line with activity a year earlier with around 300 claims. Despite the increasing sophistication and volume of attacks companies face, claim severity has declined by more than 50%, while the frequency of large loss claims is down by around 30%, driven by larger companies’ cumulative investments in cyber security, detection and response. However, the expanding risk landscape means there is no room for complacency. Ransomware attacks remain the top driver of cyber incidents while the focus of attackers is also shifting to smaller or mid-sized companies which are less resilient against cyber-attacks and data breaches. Overall, the total number of cyber claims in 2025 is expected to remain stable (around 700), with a seasonal uptick in activity expected around Black Friday at the end of November to year-end.

“Several ransomware events have hit the headlines this year, but overall, we see that insured losses from these attacks have decreased in 2025 to date. Insureds’ increased detection and response capabilities are helping to stop some attacks at an early stage. Every step an attacker progresses, and every minute that they are in the system, the impact goes up exponentially. The cost of a ransomware attack that progresses to data theft and encryption can be 1,000 times higher than an incident that is detected and contained early,” explains Michael Daum, Global Head of Cyber Claims at Allianz Commercial.

Ransomware remains biggest driver of cyber insurance claims

Ransomware attacks accounted for around 60% of the value of large claims during the first half of 2025. High-profile incidents across many industries underscore ongoing threats, although there are signs international co-ordination by law enforcement agencies and the strengthening of cyber security by large corporates is having a positive impact. Attackers are also shifting focus to smaller firms, which are typically less resilient than multinationals, as well as firms in other territories, such as in Asia or Latin America. Ransomware was involved in 88% of data breaches at small and medium firms compared to 39% at large firms, according to Verizon.

As large companies have improved their response capabilities, recent years have seen a shift from purely extortion-based ransomware attacks to double extortion including data exfiltration – 40% of the value of large cyber claims during the first half of 2025 included data theft, up from 25% in all of 2024. Losses involving data exfiltration were more than double the value of those without. The average global data breach cost hit a record high at almost US$5mn in 2024, driven by factors such as the impact of stricter data privacy regulation.

The retail sector has been particularly vulnerable to cyber incidents, entering the top three of most impacted industries, according to analysis of large cyber claims over the past five years, accounting for 9% of claims by value after manufacturing (33%) and professional services firms (18%). Retailers often have high revenues, handle large volumes of personal data, and are vulnerable to business interruption, which all provide leverage when making extortion demands. Large numbers of staff, suppliers and IT systems create a wide attack surface.

Meanwhile, an expanding risk landscape is also broadening the potential scope of losses for companies, with non-attack incidents, such as wrongful collection and processing of data, as well as technical failure, accounting for a record 28% of large claims by value during 2024. At the same time, organizations continue to face new challenges and threats from their growing reliance on digital supply chains, the impact of expanding privacy regulation, and the increasing number of social engineering attacks involving sophisticated impersonations of company staff to gain access to company systems.

Cyber resilience gaps in Asia Pacific amidst an increasingly threatening landscape

The Asia Pacific region experienced the most cyber-attacks in 2024, increasing 13% year-on-year and accounting for 34% of attacks globally, according to IBM. This is corroborated by AON, which reported a 22% rise in cyber insurance claims for Asia Pacific in 2024 over the prior year. Ransomware is also a major concern, and accounts for all of Allianz Commercial’s cyber losses in Asia for the first half of 2025.

“A significant number of companies have selected Asia as home for their complex supply chains as well as outsourcing of key business processes. While organizations recognize third-party and supply chain risk, in practice this is a challenge to mitigate and requires significant cross-functional collaboration internally, from the IT, procurement, to legal and compliance departments. Over the past few years, we have seen increased claim activity resulting from IT supply chain risks, in the form of both malicious attacks and technical failures. As a result, there continues to be an uptick in contractually driven cyber insurance purchases. Businesses in Asia, in particular large companies, have also shown an increase in cyber resilience and appetite for cyber risk transfer solutions, although their overall cyber coverage is generally lower compared to American or European peers.

“That said, a significant portion of large organizations still remain self-insured, and the same applies to small and medium enterprises, which are less resilient and more vulnerable to cyber risks. Asian businesses with overseas presence should also consider multinational cyber solutions, especially those with operations in Australia, US and UK which tend to experience more substantial financial losses arising from privacy litigation and data breaches,” says Karlis Trops, Head of Cyber & Tech Professional Indemnity at Allianz Commercial Asia.

“The global cyber insurance market is predicted to more than double to close to US$30bn by the end of the decade, yet penetration remains relatively low. We need to underline that cyber insurance plays an important role in helping build resilience at a time of rapid technological and regulatory change. Many companies remain unaware of the breadth of coverage offered, which can include costs associated with breach response, business interruption, and regulatory fines and penalties,” says Jarrod Schlesinger, Global Head of Financial Lines and Cyber at Allianz Commercial.

Hashtag: #Allianz

https://commercial.allianz.com/
financial strength, and network of the world’s #1 insurance brand, we work together to help our customers prepare for what’s ahead: They trust us in providing a wide range of traditional and alternative risk transfer solutions, outstanding risk consulting and Multinational services as well as seamless claims handling. Allianz Commercial brings together the large corporate insurance business of Allianz Global Corporate & Specialty (AGCS) and the commercial insurance business of national Allianz Property & Casualty entities serving mid-sized companies. We are present in over 200 countries and territories either through our own teams or the Allianz Group network and partners. In 2024, the integrated business of Allianz Commercial generated around €18 billion in gross premium globally. https://commercial.allianz.com/

Media OutReach

SKYWORTH Solar Accelerates Thailand Expansion as Part of New Global Growth Strategy

Published

2 hours ago

05/06/2026

Media Outreach

SHANGHAI, CHINA – Media OutReach Newswire – 5 June 2026 – SKYWORTH Solar has reinforced its commitment to Thailand’s growing clean energy sector following the opening of its Bangkok office and the signing of a 100MW commercial and industrial (C&I) solar project memorandum of understanding with local partner CapSolar.

The announcement forms part of SKYWORTH Solar’s newly unveiled global growth strategy, revealed at the 2026 SNEC Exhibition and Global Customer Summit in Shanghai, where the company introduced its new positioning as a “Global Smart Energy Ecosystem Leader” and outlined plans to accelerate expansion across key international markets.

Thailand has emerged as one of SKYWORTH Solar’s strategic markets in Southeast Asia, driven by rising energy demand, increasing electricity costs for businesses, and growing momentum behind renewable energy adoption.

The opening of the company’s Thailand office at Empire Tower in Bangkok strengthens SKYWORTH Solar’s local presence. It enables the company to provide customers and partners with enhanced support across consultation, project execution, after-sales service, supply chain coordination and project delivery.

“Thailand represents a significant growth opportunity for SKYWORTH Solar as businesses increasingly seek reliable and cost-effective clean energy solutions,” said Wanfei Qu, Chief Investment Officer of SKYWORTH Group, CEO and Director of SKYWORTH Solar. “Our strategy is built on the principle of ‘Global Vision, Local Execution’, combining global expertise with strong local partnerships to support Thailand’s energy transition and long-term sustainability goals.”

As part of its expansion plans, SKYWORTH Solar signed a 100MW C&I solar project MOU with CapSolar, supporting the growing demand for rooftop solar solutions among commercial and industrial businesses.

The company is also strengthening its local ecosystem through investments in project development, financing partnerships and service capabilities. This includes a strategic banking collaboration with ICBC Thai and access to a US$500 million investment fund to support solar project development and deployment in Thailand and other international markets.

One example of SKYWORTH Solar’s growing footprint in Thailand is its 3MW rooftop solar project at UMC Steel Plant in Chonburi Province. The project is expected to generate approximately 4.4 million kWh of clean electricity in its first year, helping reduce energy costs while supporting the facility’s sustainability objectives.

The developments in Thailand were highlighted as part of SKYWORTH Solar’s broader global strategy unveiled at SNEC 2026. The company announced plans to expand its solar, energy storage, and integrated smart energy solutions across Europe, Southeast Asia, the Middle East, and Africa, in response to increasing global demand for renewable energy technologies.

As governments and businesses accelerate their decarbonisation efforts, SKYWORTH Solar aims to support customers through a combination of advanced technology, flexible business models and localised service capabilities.

For more information about SKYWORTH Solar and its clean energy solutions, please visit https://www.skyworth-pv.com.
Hashtag: #SKYWORTH

The issuer is solely responsible for the content of this announcement.

About SKYWORTH

SKYWORTH Solar, the cutting-edge PV brand under SKYWORTH Group, is a global leader in providing comprehensive one-stop solar solutions. Comprehensive end-to-end services are provided, encompassing consulting, design, and product O&M, all supported by a portfolio of self-developed solutions.

As a leading global renewable energy developer, service provider and energy solutions provider, SKYWORTH is actively shaping the future of energy. With a strong presence in EPC services and one-stop product solutions, SKYWORTH delivers high-quality, reliable, and innovative energy solutions. SKYWORTH ‘s commitment to originality and excellence has earned widespread recognition in international markets such as Germany, Italy, the UK, Brazil, and Senegal.

Media OutReach

Registration Now Open for Free Public Admission to Fifth Hong Kong Science Fair

Published

15 hours ago

04/06/2026

Media Outreach

Over five years, nearly 9,000 teachers and students have participated in the Fair to drive youth engagement in innovation and technology

HONG KONG SAR – Media OutReach Newswire – 4 June 2026 – Organised by the Hong Kong Innovation Foundation (‘HKIF’), the Fifth Hong Kong Science Fair (‘Science Fair’) will take place from 27 to 28 June 2026 at the Hong Kong Convention and Exhibition Centre. The event will showcase around 120 shortlisted teams from primary and secondary schools across Hong Kong, presenting creative inventions that integrate artificial intelligence with a diverse range of technology applications. With Sino Group as Principal Patron, the Innovation, Technology and Industry Bureau of the HKSAR Government (ITIB) as the Supporting Bureau, and the Hong Kong Council for Testing and Certification (HKCTC) as Strategic Partner, HKIF is also honoured to have, for the first time, invited the Foundation for the Development of Science and Technology in China as an Advisory Organisation. Representatives from the Foundation will attend the award ceremony to witness the announcement of this year’s winning teams. Consistently a major draw for the community, the Science Fair is now open for online registration with free admission, and the public is warmly invited to attend in person.

Since its launch in 2021, the Science Fair has attracted participation from over 400 local schools, engaging nearly 9,000 students and teachers from Primary 4 to Secondary 6. To date, more than 2,200 creative invention submissions have been received, and the event has established itself as a key platform for youth I&T exchange.

Following Hong Kong’s first astronaut, Dr Lai Ka-ying, into space, the local innovation and technology ecosystem has attracted even greater attention. This year’s Science Fair has specially incorporated aerospace engineering elements, enabling the public to learn about the daily work and challenges of payload specialists, gain insight into the reality of aerospace research and development, and spark greater interest among young people in space exploration. Dr Lai launched aboard the Shenzhou-23 manned spacecraft and is expected to remain in space for approximately six months to conduct space science experiments and maintenance tasks. Visitors can express their support and encouragement by creating message cards for her. In addition, UBTECH Robotics, a globally leading enterprise in embodied AI robotics, will participate in the exhibition, showcasing multiple humanoid robots and offering visitors the opportunity to experience the appeal of embodied intelligence up close.

Professor Sun Dong, JP, Secretary for Innovation, Technology and Industry of the HKSAR Government, stated: ‘The Hong Kong SAR Government is fully committed to developing Hong Kong into an international innovation and technology (I&T) centre, with talent being a key driver of this growth. Now in its fifth edition, the Hong Kong Science Fair – organised by the Hong Kong Innovation Foundation – has become an annual flagship I&T education event. It offers students a valuable platform to turn their innovative ideas into practice, deepen their interest and confidence in I&T, and help bring I&T into schools and the wider community, thereby fostering a more innovation-friendly atmosphere. I look forward to seeing more young people unleash their potential through this platform, pursue careers in I&T, and contribute to the high-quality development of Hong Kong and our nation.’

Mr Daryl Ng, SBS, JP, Chairman of the Hong Kong Innovation Foundation and Chairman of Sino Group, said ‘Innovation and technology are key to Hong Kong’s long-term sustainable development and are integral to the country’s 15^th Five-Year Plan. It is vital for Hong Kong to strengthen its I&T capabilities and actively contribute to national development, as underscored by the historic moment when Dr Lai Ka-ying became Hong Kong’s first astronaut. We are encouraged to see growing recognition of I&T opening up new opportunities for young people aspiring to pursue scientific research. As the Hong Kong Science Fair enters its fifth edition, its growth has been made possible by the support of the HKSAR Government, industry partners, tertiary institutions, research organisations, and our panels of judges. This year, we are grateful for the guidance and support of the Foundation for the Development of Science and Technology in China. Moving forward, the Science Fair will remain committed to nurturing talent from an early age, bringing together all sectors to promote I&T and inspire more young people to pursue careers in science and technology.’

Professor Anderson Shum, MH, Chairman of Judging Panel, Hong Kong Science Fair, President of The Hong Kong Young Academy of Sciences, said, ‘The Science Fair adopts the format of “integrating competition with exhibition,” enabling students to translate their learning into tangible and verifiable outcomes. This plays an important role in nurturing Hong Kong’s youth I&T ecosystem. I am delighted to have served as a judge for this major event over the years, witnessing students progressively enhance their presentation skills, build confidence, and broaden their horizons through exchanges with experts, participation in workshops and showcasing their work to the public. The standard of participating projects continues to improve each year, with increasing integration of artificial intelligence and diverse technological applications across different fields. Scientific research is a journey that demands passion and perseverance, and the growth of young scientists often begins with curiosity during their primary and secondary school years. Through these exchanges, we hope to leverage the role-model influence of young scientists, inspiring more students to pursue I&T as their lifelong career. I look forward to seeing our younger generation continue to grow and excel in scientific research and innovation, and officially join the community of scientists in the near future to jointly drive Hong Kong’s I&T development.’

Mr Michael Tam, Chief Brand Officer of UBTECH, said, ‘Humanoid robots are among the most promising real-world embodiments of artificial intelligence, reflecting a future in which intelligent systems are deeply integrated with the physical world. As a global pioneer in humanoid robotics, UBTECH has remained at the forefront of innovation for more than 14 years, with a long-standing commitment to I&T education. The company is dedicated to translating advanced technologies into practical, accessible educational resources. Through collaboration with like-minded partners such as the Hong Kong Innovation Foundation, we aim to inspire greater interest and engagement among both teachers and students in humanoid robotics and artificial intelligence. We are committed to supporting the development of Hong Kong’s I&T education ecosystem, helping to nurture future-ready talent and build a strong, sustainable foundation for long-term growth.’

Since its launch in 2021, the Science Fair has attracted participation from over 400 local schools, engaging nearly 9,000 Primary 4 to Secondary 6 students and their teachers. To date, more than 2,200 creative invention submissions have been received and total attendance has exceeded 120,000 visitors. The Science Fair has gradually established itself as a key platform for youth innovation and technology (‘I&T’) exchange and one of Hong Kong’s most representative I&T education initiatives. This year’s response has been enthusiastic, with over 500 project submissions received. Following preliminary judging, around 120 shortlisted teams took part in a series of workshops and mentorship sessions, and will present their projects at the exhibition in late June to compete for top awards. Gold award-winning teams from each category will have the opportunity to participate in the International Exhibition of Inventions Geneva in Switzerland, fostering idea exchange with global I&T talents.

The Hong Kong Science Fair draws tens of thousands of visitors each year. During the exhibition period, the venue will be transformed into a catalyst for city-wide I&T inspiration. In addition to student showcases, five interactive zones will offer hands-on experiences, including DIY bubble bath bomb workshops, freezer-free slushie making, themed games celebrating the Science Fair’s fifth anniversary, and modified remote-controlled cars made from upcycled household appliances, allowing visitors of all ages to explore science and innovation through engaging and enjoyable activities.

Bulu Bulu Bubble Factory: Blending science with sensory experiences, visitors can mix and mould from scratch to create a delightful ‘bathroom blind box’.
Shake Shake Ice Factory: Applying the principle of freezing point depression, participants will see how temperature can be rapidly lowered using only salt, ice and water to create personalised slushies — all without a freezer.
Scan2Play: Scan the QR Code on your phone to join the themed game celebrating the Hong Kong Science Fair’s Fifth Anniversary.
Racing Homey Kart 2.0: Showcasing the spirit of upcycling and upgrades, visitors can transform old, small household appliances into remote-controlled racing cars and compete on a dedicated track.
UBTECH Robotics Base: Featuring a wide range of robots, this zone provides a comprehensive showcase of the integration of artificial intelligence with mechanical engineering.

To celebrate the Science Fair’s fifth edition, various special experiences will be introduced. The venue will feature a hidden Science Fair character treasure hunt and check-in activity, through which visitors can redeem curated gifts upon completion. Limited-edition souvenirs, including the ‘HKSF-5 Metal Standee Collection’ and the ‘Special Edition Robo K’ blind boxes, will also be available in limited quantities. All proceeds from the HKSF Bazaar, with no deduction, will go directly to charity to support local community technology initiatives.

The Fifth Hong Kong Science Fair Details:

Date: 27 to 28 June 2026 (Saturday and Sunday)
Time: 10:00 am to 6:00 pm
Venue: Hong Kong Convention and Exhibition Centre, Hall 3FG
Admission: Free of Charge (Pre-registration online is required)
Registration Website: https://reghksciencefair.org.hk/public

Photos download: https://shorturl.at/mgawb

Hashtag: #HKIF #ScienceFair

The issuer is solely responsible for the content of this announcement.

Media OutReach

Exploring European Expansion Opportunities for China’s Manufacturing and Logistics Industry

Published

17 hours ago

04/06/2026

Media Outreach

Cushman & Wakefield Hosts “Europe Unlocked” Summits in Shanghai and Guangzhou

HONG KONG SAR – Media OutReach Newswire – 4 June 2026 – This year marks the 50^thanniversary of the establishment of diplomatic relations between China and the European Union. The principles of mutual respect, openness, cooperation, and win-win outcomes have long defined China–EU collaboration, laying a solid foundation for Chinese manufacturing enterprises expanding overseas.

Europe has now become a key strategic destination for Chinese companies going global, backed by its high-quality consumer markets, abundant labor force, mature industrial supply chains, and well-established legal framework. In response, Cushman & Wakefield hosted summits on the topic of Europe Unlocked — New Opportunities for China’s Manufacturing & Logistics Industry in Shanghai on June 2 and in Guangzhou on June 4, 2026.

These summits brought together Cushman & Wakefield’s industrial real estate experts from Europe, APAC and Greater China, along with representatives and leading industrial park enterprises from the United Kingdom, Germany, Hungary, Poland, and the Czech Republic. The events provided in-depth insights into the characteristics and advantages of European industrial investment and key industrial park investment opportunities, and attracted broad interest and participation from corporate representatives.

Matthew Bouw, Chief Executive, APAC & EMEA, Cushman & Wakefield, opened the Guangzhou summit and said: “Leveraging our global platform to bring our logistics and industrial sector leads to China to provide in-person intelligence on the current dynamics and strategic opportunities across Europe’s markets is what Cushman & Wakefield is all about. The trading relationship between China and Europe is long established, and is now entering a new phase, as opportunities in e-commerce continue to evolve. Our significant investment in our digital ecosystem, including all things data, analytics, and AI, together with our local brokers’ deep market expertise, is helping clients make well informed, data-driven decisions to drive value for their businesses. It has been our pleasure to partner with our leading European developer clients to host these summits – and we look forward to continuing this working relationship going forward.”

KK Chiu, Chief Executive, Greater China, Cushman & Wakefield, commented: “Over the past five years, European investment in China has continued to grow steadily, with countries such as the United Kingdom, Germany, and Switzerland recording double-digit growth. European companies’ deep familiarity with China’s industrial supply chains also provides strong support for Chinese enterprises to expand into Europe and integrate into local markets. At the same time, Chinese enterprises are increasingly adopting a more strategic and long-term approach to overseas expansion, with greater emphasis on operational resilience, regional diversification, and proximity to customers. Through hosting Europe Unlocked summits, we aim to provide practical market insights and local expertise to help companies better navigate Europe’s diverse industrial landscape and make more informed expansion decisions”

Europe continues to attract strong interest from Chinese enterprises: Chinese inward investment into Europe reached almost €17 billion in 2025, up 67% on 2024 volumes and accounting for nearly a quarter of total global Chinese FDI in 2025^[1]. European logistics and industrial markets show positive signs for businesses looking to locate in Europe with occupational demand rallying over the past year, availability of real estate options having grown in many markets since 2022 and developers keen to deliver more high-standard buildings to the market. Additionally, investor conviction in the asset class in Europe remains high with more capital being raised in 2025 to deploy specifically into logistics and industrial real estate assets in Europe than any other single sector^[2].

Michael Carson, Head of Supply Chain & Logistics Consulting, APAC & EMEA, Cushman & Wakefield, added: “We’ve built strong credentials in core industrial markets across the region, including Germany, the UK and Eastern Europe. With deep experience, strong connectivity and best in class tools, we will help China manufacturing and logistics enterprises grow business and expand strategically into new markets across the globe.”

Tony Su, Managing Director and Head of Industrial & Logistics Services, China, Cushman & Wakefield, noted: “In recent years, we have drawn on our global resources and professional expertise to successfully support multiple enterprises in entering the European market. We have also assisted dozens of multinational companies in establishing operations in China. Looking ahead, we will continue to leverage our strengths to support the global expansion of Chinese manufacturing and logistics enterprises, providing efficient and professional on-the-ground services.”

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¹ Rhodium Group
² Realfin

Hashtag: #Cushman&Wakefield

The issuer is solely responsible for the content of this announcement.

About Cushman & Wakefield

Cushman & Wakefield (NYSE: CWK) is a leading global commercial real estate services firm for property owners and occupiers with approximately 53,000 employees in nearly 350 offices and 60 countries. In Greater China, a network of 23 offices serves local markets across the region. In 2025, the firm reported revenue of $10.3 billion across its core services of Valuation, Consulting, Project & Development Services, Capital Markets, Project & Occupier Services, Industrial & Logistics, Retail, and others. Built around the belief that Better never settles, the firm receives numerous industry and business accolades for its award-winning culture. For additional information, visit www.cushmanwakefield.com.hk or follow us on LinkedIn (https://www.linkedin.com/company/cushman-&-wakefield-greater-china).