SIRC: Diary day one – maintaining momentum on cyber
November 3 2025 by Marcus Alcock
It’s lovely to be back in Singapore once again for the Singapore International Reinsurance Conference (SIRC), now in its 21st year and firmly embedded as of the core events in the (re)insurance conference calendar.
But don’t just take my word for it – I note that the conference is now taking place on two floors of the sizeable Sands Expo & Convention Centre, which speaks volumes.
The official tagline of this year’s SIRC is “Staying Ahead, Future Ready” and it’s one that has grabbed me, because it’s a bit of a pet gripe of mine that the market too often is comfortable writing the same old historical covers, assuming risk that it is technically on top of, with just the right amount of volatility in the book to not scare investors away.
Of course, this makes sense in so many ways.
But I do wonder, in a region which is undergoing, and in many cases, leading the charge on digital transformation, is there a danger that the (re)insurance market’s embedded conservatism at such a crucial juncture in history will be seen as a real missed opportunity? I really hope not.
The big opportunity here, of course, relates to cyber (re)insurance.
If the market gets this right, surely before too long cyber will take its place at the top table of risk in terms of premium volume?
Yes, yes, I hear you say, brokers have been talking up this space for donkey’s years now, but the figures don’t match the rhetoric. In any case, you might add, the price point of late has scared off a fair few buyers, especially in other regional markets.
And you’d be right. Cyber has not really delivered in terms of the top line as many of us thought it would. But at least efforts are being made.
It is extremely encouraging, for example, that as SIRC 2025 kicked off, Gallagher Re has launched a cyber reinsurance facility, with an initial line size of at least US$15 million for facultative placements, and US$10 million for treaty and white-label deals. Bravo!
I should add that I’m really looking forward to catching up with many of you once again at this year’s SIRC.
If we haven’t managed to schedule an official diary slot, do feel free to grab me if you see me around the convention centre.
Wishing all of you a pleasant, informative and productive few days in Singapore.
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