Markel, a key division of Markel Group Inc., has welcomed Ng Yao Hua aboard as a Cyber Security Analyst. He arrives to enhance cyber security underwriting capabilities in the Asia Pacific market. This appointment marks a significant addition to the company’s growing expertise in the region, demonstrating its commitment to addressing the evolving cyber security challenges faced by businesses.
The Asia Pacific region is a prime target for cybercriminals. Businesses in the region experience a higher rate of cyberattacks than those in other parts of the world. A 2022 Marsh report found that 1 in 3 organizations in Asia do not have endpoint detection and response, a requirement for insurance programs. That number is 22% globally. Some research expects the cyber insurance market in Asia Pacific to grow rapidly, achieving the highest Compound Annual Growth Rate (CAGR) in the cyber security insurance market.
Ng Yao Hua transitions to Markel from a career in the public sector, where he served as a cyber security specialist. His tenure in the industry is notable. It includes roles at GovTech, EY, the Cyber Security Agency of Singapore, and Keppel Corporation. Bringing over ten years of experience, Ng’s proficiency spans threat risk assessment, network architecture review, compliance evaluation, and the development of security frameworks. His extensive background makes him a key asset to Markel’s cyber underwriting team in Asia Pacific.
Markel’s Moves
At Markel, Ng will be pivotal in advancing the company’s cyber underwriting capabilities. Leveraging his substantial technology experience, he aims to refine the risk assessment process and support brokers and policyholders in navigating the cyber security landscape. This effort aligns with Markel’s strategic goal of building a formidable team of regional experts. Ng’s arrival follows the recent appointments of Pooja Kumari in Dubai and Isaac Meek in Mumbai. All under Markel’s ongoing investment in its international market presence, which spans over a decade and includes successful operations in Canada, Europe, the Middle East, and Asia-Pacific.
“We warmly welcome Ng Yao Hua to the Markel team in Singapore,” stated Christian Stobbs, Managing Director – Asia Pacific at Markel. “Given the growing importance of cyber security in the region, Ng’s expertise will greatly enhance our ability to protect our clients against digital threats.”
Reporting to Simon Moi, Head of Professional and Financial Risks for Asia, based in Singapore, Ng’s expertise is expected to significantly contribute to Markel’s mission of delivering reliable cyber insurance solutions to businesses throughout the Asia-Pacific region.
Source: Markel appoints Ng Yao Hua as Cyber Security Analyst in Singapore.