Although cyber remains the top risk for businesses of all sizes, sectors and regions, it was found that 83% of Singaporean business leaders still report confidence in their ability to fully financially recover from an attack. Despite this, 27% of respondents plan to invest in stronger cyber security.
This growing disconnect between confidence and resilience among the country’s leaders was highlighted in Beazley’s 2026 report, titled ‘Risk and Resilience: Cyber Threat and Tech Advances’.
As Beazley Group Head of Cyber Risks Alessandro Lezzi put it in a statement, “What stands out in this year’s Risk and Resilience survey findings is a growing misalignment between cyber and tech risk concerns and perceived perception of resilience to these risks.”
Mr Lezzi also noted that the high percentage of leaders confident in their ability to fully financially recover from an attack may demonstrate that “many organisations are overestimating their preparedness to withstand the full impact of an attack across all corners of their operations”.
“That gap matters because cyber risk is becoming more systemic – the high-profile incidents in 2025 only prove this,” he added.
“As businesses become more interconnected and adopt technologies such as AI, disruption can spread faster across organisations and supply chains making incidents harder to contain.”
Other key findings in the survey include:
- 30% of respondents rank cyber risk, including data privacy failures and external criminal threats, as their top cyber concern, up from 26% in 2025.
- 87% believe they are prepared for cyber risk, suggesting potential underestimation of a rapidly evolving threat environment.
- 85% expect AI to boost their bottom line, and 79% expect it to replace jobs in their business over the next 18 months, up from 68% in 2025.
Mr Lezzi also said, “It is encouraging to see that over a quarter of Singaporean businesses plan to invest in stronger cyber security, including access to specialist expertise to help them better understand their exposure, strengthen incident response and plan for realistic disruption scenarios across the organisation.”
Beazley’s 2026 report was based on a survey of 3,500 global business leaders.