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Allianz Commercial: Cyber insureds gain momentum against attackers, but supply chain challenges remain
- 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/
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New Battery-Operated Bluetooth® Controller Enables Truly Mobile, Plug-and-Play Access
Powerful Performance from Just Four AA Batteries
Powered by only four AA batteries, the controller delivers over two years of operation when driving a 12VDC latch, dramatically reducing maintenance compared to typical battery-powered systems. Its high-efficiency internal buck/boost technology ensures optimal power delivery while using fewer batteries than conventional approaches.
Redundant Power for Critical Access
When batteries eventually require replacement, Southco has designed built-in redundancy to avoid downtime. A power override port—compatible today with a 9V battery and adaptable for future power inputs—provides temporary power so users can unlock the enclosure, replace batteries, and restore full operation quickly.
Smart Monitoring Through the Keypanion® App
Battery health is continuously monitored through Southco’s Keypanion® App, which alerts users well before battery replacement is needed, reducing the likelihood of emergency access situations.
For Original Equipment Manufacturers building their own mobile apps, Southco also offers a Software Development Kit (SDK), enabling seamless integration between the controller and customers’ existing digital ecosystems.
Designed for Real-World Enclosures
A removable battery pod allows fast, frustration-free battery changes—especially valuable in tight, hard-to-reach installations. Users can slide out the cartridge, load all batteries at once, and reinsert it without navigating cramped enclosure spaces.
The controller also features true plug-and-play installation. Simply insert the four AA batteries, plug in the latch, and the system is ready to operate—no wire splicing, no external power, and no additional electronics required.
Mobile Access Without Security Infrastructure
With the Keypanion® App, users can activate, manage, and share access directly from a mobile device. There is no server setup, no IT overhead, and no wiring required. Permissions can be granted or revoked instantly, replacing physical keys with secure digital control.
New Possibilities for Remote and Unpowered Applications
This combination of self-contained power, Bluetooth® connectivity, and mobile access expands what designers can do in environments once considered too challenging for electronic access. Ideal applications include:
- Remote and public installations without external power
- Retrofit upgrades for existing unpowered enclosures
- Critical infrastructure such as fiber optic boxes requiring secure, monitored access
By eliminating the need for solar panels, power drops, or complex security systems, Southco’s Battery-Operated Bluetooth® Controller reduces material costs and gives OEMs far greater design freedom.
A Flexible, Future-Ready Solution
Beyond immediate use cases, the power override port helps engineers address mechanical override considerations by providing a reliable method to restore power and gain entry when traditional power sources fail—a major benefit noted by early customer feedback.
The Battery-Operated Single Output Bluetooth® Controller provides a strong foundation for the next generation of remote access solutions, delivering convenience, efficiency, and security in one streamlined device.
For more information, please visit www.southco.com or email Southco’s 24/7 customer service team at in**@*****co.com.
Hashtag: #Southco
The issuer is solely responsible for the content of this announcement.
About Southco
Southco, Inc. is the leading global designer and manufacturer of engineered access solutions. From quality and performance to aesthetics and ergonomics, we understand that first impressions are lasting impressions in product design. For over 80 years, Southco has helped the world’s most recognized brands create value for their customers with innovative access solutions designed to enhance the touch points of their products in transportation and industrial applications, medical equipment, data centers and more. With unrivalled engineering resources, innovative products and a dedicated global team, Southco delivers the broadest portfolio of premium access solutions available to equipment designers throughout the world.
Southco Asia Limited
2401, Tower 2, Ever Gain Plaza
88 Container Port Road, Kwai Chung
Hong Kong
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OTIC Hearing Unveils New Audiological Milestones In Hong Kong: Launching The Award-Winning Oticon Zeal And The Pediatric Oticon Play SI Platforms
Developed to mimic natural brain sound processing, these platforms represent a major leap forward in treating hearing loss across all ages. Together, the Oticon Zeal and Oticon Play SI lines bring the next evolution of BrainHearing™ technology to Hong Kong. Headlining this release is the custom-molded Oticon Zeal, which recently won the 2026 Red Dot Design Award—one of the world’s most prestigious international seals of design quality and innovation. By introducing these dual systems, OTIC Hearing effortlessly bridges the gap between invisible aesthetics for image-conscious adults and robust learning support for developing children.
Oticon Zeal: Setting a New Standard for Invisible Hearing Technology
For many adults experiencing mild-to-moderate hearing impairment, the social stigma of traditional behind-the-ear devices remains a major deterrent to seeking intervention. Oticon Zeal rewrites this narrative with its NXT In-the-Ear (ITE) style.
Individually sculpted to fit deeply within the user’s ear canal, Oticon Zeal achieves absolute invisibility when viewed from a frontal profile, presenting an ultra-compact faceplate only when observed directly from the side. This is achieved via advanced 3D modeling and laser-sculpting technology, which integrates complex components into an exceptionally small shell without compromising on features.
Overcoming a historic limitation of invisible hearing aids, the frequent changing of tiny disposable batteries; Oticon Zeal introduces an integrated lithium-ion rechargeable power cell. The system delivers up to 20 hours of continuous battery life on a single charge. Every device pairs with a desktop SmartCharger that functions as a mobile power bank. For urgent situations, a fast-charging protocol provides four hours of operational power from a brief 15-minute charge.
Deep Neural Network 2.0 Processing
At the core of Oticon Zeal’s processing is an on-chip, second-generation AI engine. Driven by an updated Deep Neural Network (DNN) 2.0 and a SuddenSound Stabilizer, the processor scans and balances the surrounding soundscape hundreds of times per second.
Standard digital hearing systems often rely on narrow, directional microphones that isolate a single speaker while dampening peripheral noise. This artificial restriction deprives the brain of essential contextual audio, creating cognitive strain and mental fatigue.
In contrast, Oticon Zeal’s AI preserves a natural, 360-degree open soundscape. By suppressing sudden background noises by up to 12 decibels while actively enhancing speech clarity by up to 6 decibels, the platform allows the brain to naturally choose which sound source to focus on, even within high-volume environments like corporate meetings or crowded restaurants.
Oticon Play SI: Purpose-Built Pediatric Care for Growing Minds
Alongside the adult-focused Oticon Zeal, OTIC Hearing is introducing Oticon Play SI to deliver specialized auditory care tailored directly to the unique developmental requirements of growing children. The Oticon Play SI family is optimized to deliver a rich, high-fidelity sound stream essential for language acquisition, academic success, and social confidence.
Children live dynamic lives, moving rapidly from quiet homes to noisy classrooms and playgrounds. Oticon Play SI addresses this volatility by becoming the industry’s first pediatric family to combine a second-generation AI processing core with integrated 4D user-intent sensors.
These sensors track physical head movements, body activity levels, and localized acoustic shifts. The system automatically adjusts its processing parameters in real time, ensuring the child remains clearly connected to teacher instructions, parental guidance, and peer interactions.
To withstand childhood adventures, Oticon Play SI features an IP68-certified robust housing, offering maximum protection against dust, moisture, and debris. This fully sealed architecture safeguards delicate internal circuitry from sweat, rain, and accidental spills. Available in versatile miniRITE R and miniBTE R styles, the lineup offers a broad array of 12 expressive color choices, seven colored ear-hook options, and custom decorative stickers, empowering children to wear their devices with personal pride.
Advanced Digital Connectivity
To seamlessly interface with today’s digital environment, both Oticon Zeal and Oticon Play SI feature state-of-the-art streaming protocols. Utilizing advanced Bluetooth® LE Audio technology, both product families deliver low-energy direct audio streaming from smartphones, tablets, laptops, and smart televisions, keeping users connected without draining device batteries.
Hashtag: #OTIC
The issuer is solely responsible for the content of this announcement.
About OTIC Hearing
Established in 2005, OTIC Hearing (Otic Hearing & Speech Centre) is one of the largest, most trusted hearing care clinical groups in Hong Kong. Guided by a corporate philosophy of “People First”, OTIC Hearing manages a comprehensive network of eight specialized service centers strategically distributed across Hong Kong Island, Kowloon, and the New Territories. Clinics are located in Central, Causeway Bay, Jordan, Tsim Sha Tsui, Kwun Tong, Shatin, Tsuen Wan, and Yuen Long.
As the exclusive distributor of Oticon A/S in Hong Kong, OTIC Hearing pairs world-leading technology with an elite team of clinical audiologists and technical hearing specialists. Every facility is fully outfitted with advanced diagnostic and testing instrumentation, allowing the clinical team to deliver precise hearing assessments, custom-fitting protocols, and specialized pediatric auditory rehabilitation. OTIC Hearing maintains a strict commitment to ongoing professional training, ensuring that every client receives a supportive, accurate rehabilitation journey designed to restore lifestyle confidence.
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Pacific Century Premium Developments Limited announces interim results for six months ended June 30, 2026
2026 Interim Results – Financial Highlights
(Figures for the corresponding period in 2025 are shown in brackets)
- Consolidated revenue: HK$593 million (HK$ 636 million)
- Consolidated net loss attributable to equity holders of the Company: HK$189 million (HK$ 249 million)
- Basic loss per share: 9.28 HK cents (12.23 HK cents)
- No interim dividend (No interim dividend)
Pacific Century Premium Developments Limited (“PCPD”, SEHK: 00432) announced its interim results for the six months ended June 30, 2026.
The consolidated revenue of PCPD and its subsidiaries (together, the “Group”) amounted to HK$ 593 million, compared to HK$ 636 million for the corresponding period of 2025.
The Group’s consolidated loss attributable to equity holders of the Company for the first six months of 2026 totalled HK$ 189 million, compared to a net loss of HK$249 million for the corresponding period last year. Basic loss per share for the six months ended June 30, 2026 was 9.28 Hong Kong cents, compared to a loss per share of 12.23 Hong Kong cents for the corresponding period of 2025.
The Board of Directors did not declare an interim dividend for the first half of 2026.
For the first half of 2026, the Group delivered encouraging results as we built on our core strengths and benefited from resilient demand across the markets in which we operate. During the period, we also took steps to enhance our portfolio, including the disposals of two investment assets. These initiatives are expected to strengthen the Group’s financial position and reinforce its long-term growth.
Our operations in Japan performed well despite some moderation in tourism demand, shaped by changes in the composition of international visitors and fluctuations in travel demand. Park Hyatt Niseko, Hanazono, our hospitality business in Niseko, Hokkaido, delivered a stable performance with healthy occupancy and room rates, while our ski operations remained a key contributor to the Group’s results. Earnings from our recreational facilities, ski lifts, equipment rentals, “Hanazono EDGE” (a restaurant and entertainment centre) and Niseko International Snowsports Schoolcontinued togrow year-on-year. We will stay focused on establishing Niseko Hanazono Resort as a world-class, all-season luxury destination and remain optimistic about its long-term development.
On March 16, 2026, the Group announced the sale of its entire interest in Pacific Century Place, Jakarta (“PCP Jakarta”) in Indonesia. The transaction, at a total consideration of US$400 million, was completed on June 8, 2026. Notwithstanding the disposal, the Group will continue to provide property management services in respect of PCP Jakarta.
On February 13, 2026, the Group announced the sale of its entire interest in Midtown Niseko. The transaction, at a total consideration of US$80 million, was completed on May 31, 2026.
The Group formed a strategic alliance with Hotel Properties Limited in Singapore to bring a Four Seasons Resort and Branded Residences to Aquella, a large-scale integrated resort development in Phang Nga. The move represents a significant milestone in PCPD‘s long-term vision of transforming Aquella into an integrated resort destination that effortlessly blends luxury living, recreation and exceptional service.
Central Residence by the Park in Hong Kong was launched for sale in January 2026. As at the end of June, 90.9% of the total available units of the luxury residential project had already been sold. The project will be completed in the latter half of 2026.
Mr. Benjamin Lam, PCPD’s Deputy Chairman and Group Managing Director, said: “The first half of 2026 presented a challenging global environment, characterised by geopolitical tensions including the conflict in the Middle East, inflation, trade uncertainties and concerns over monetary policies. Despite the headwinds, global growth was relatively resilient, while international tourism in many parts of Asia continued to perform steadily. The Group’s core markets in Asia generally remained solid during the period. Tourism demand continued to support Japan and Thailand despite a slightly more measured pace of growth. Improving sentiment in Hong Kong’s property market also provided a more favourable backdrop for our luxury residential development.
In the second half of the year, we will continue to enhance the value of our existing assets while positioning the Group to capitalise on opportunities that support our long-term strategy and create value for our stakeholders.”
Hashtag: #PacificCenturyPremiumDevelopments
The issuer is solely responsible for the content of this announcement.
About PCPD
Pacific Century Premium Developments Limited (“PCPD” or the “Group”, SEHK: 00432) is principally engaged in the development and management of premium-grade property and infrastructure projects as well as premium-grade property investments. PCCW Limited (“PCCW”, SEHK: 00008) is the single largest shareholder of the Group.
