Terrorism and political violence risk on the rise in Southeast Asia: Aon
Source: Asia Insurance Review | May 2017
Southeast Asia sees a heightened risk of terrorism and political violence this year. This is amid an increasingly volatile operating environment for international business, created by a rise in terrorist attacks and populist nationalism in the past year, said Aon’s 2017 Risk Maps which cover political risk, terrorism and political violence.
Terrorism and political violence in Asia
In Singapore, an increase in campaigns such as the national “SG Secure” effort in 2016 is a sign of the real and perceived rise in terrorism exposure. The risk level has been raised from “negligible” to “low” in light of recent arrests of purported extremists in the country, and the Indonesian authorities reported disruption of a terrorist plot to attack the island in 2016.
The terrorism and political violence risk level is likely to remain “high” in the Philippines during 2017, after it was raised from “moderate”. In 2016, the Islamic State promoted the country as a regional hub for militants not able to travel to Syria or Iraq.
Aon sees a continuation of terrorism trends from last year such as abductions of shipping crew and the kidnap for ransom of foreign nationals.
Malaysia’s overall score has been raised to “medium” following the first Islamic State-linked attack in the country, an increase in the number of terrorist arrests in 2016, and multiple kidnappings by Philippines-based militants in the eastern province of Sabah.
Mr Julian Taylor, Broking Strategist & Head of Crisis Management, Asia, Aon Risk Solutions commented: “In 2017, we expect to see a further increase in terrorist activity in Asia. This is associated with the rise of the Islamic State throughout Asia, and the number of Asian citizens who have returned from fighting in the Middle East, radicalised, to their home countries.” A