KANSAS CITY, Mo. (Oct. 21, 2022)
海角论坛 Report Shows Premiums Grew 61% as Cyberthreats Rose in 2021
The 海角论坛 (海角论坛) released its Cyber Insurance report, utilizing data found within the Cyber Supplement, as well as alien surplus lines data collected through the 海角论坛鈥檚 International Insurance Department. The 2021 data shows a cybersecurity insurance market of roughly $6.5 billion, reflecting an increase of 61% from the prior year.
Insurers writing standalone cybersecurity insurance products reported approximately $4.5 billion in direct written premiums, and those writing cybersecurity insurance as part of a package policy reported roughly $2 billion in direct written premiums.
U.S. domiciled insurers wrote $4.8 billion in direct written premiums, while alien surplus lines insurers wrote $1.7 billion in direct written premiums.
The table below presents the premium, loss ratios, and market shares for the top 20 U.S. domiciled insurer groups:
2021 Rank |
2020 Rank |
Group Number |
Group Name |
Direct Written Premium |
Loss Ratio w/DCC |
Market Share |
|---|---|---|---|---|---|---|
| 1 | 1 | 626 | Chubb Ltd Grp | 473,073,308 | 76.9% | 9.8% |
| 2 | 8 | 158 | Fairfax Fin Grp | 436,447,801 | 51.9% | 9.0% |
| 3 | 2 | 968 | AXA Ins Grp | 421,013,729 | 86.5% | 8.7% |
| 4 | 11 | 3098 | Tokio Marine Holdings Inc Grp | 249,785,218 | 43.8% | 5.2% |
| 5 | 3 | 12 | American Intl Grp | 240,613,748 | 130.6% | 5.0% |
| 6 | * | 3548 | Travelers Grp | 232,276,831 | 72.7% | 4.8% |
| 7 | 5 | 4942 | Beazley Grp | 200,877,555 | 38.7% | 4.2% |
| 8 | 7 | 218 | CNA Ins Grp | 181,382,785 | 87.5% | 3.8% |
| 9 | * | 1279 | Arch Ins Grp | 171,944,995 | 9.2% | 3.6% |
| 10 | 6 | 3416 | AXIS Capital Grp | 159,059,212 | 105.2% | 3.3% |
| 11 | 13 | 212 | Zurich Ins Grp | 151,865,004 | 76.9% | 3.1% |
| 12 | 14 | 111 | Liberty Mut Grp | 138,216,723 | 95.2% | 2.9% |
| 13 | 12 | 3219 | Sompo Grp | 133,519,577 | 54.3% | 2.8% |
| 14 | 10 | 23 | BCS Ins Grp | 132,043,119 | 80.1% | 2.7% |
| 15 | * | 91 | Hartford Fire & Cas Grp | 123,163,166 | 16.3% | 2.6% |
| 16 | * | 361 | Munich Re Grp | 119,989,106 | 69.0% | 2.5% |
| 17 | 20 | 181 | Swiss Re Grp | 103,827,837 | 32.7% | 2.2% |
| 18 | * | 501 | Alleghany Grp | 88,554,222 | 20.5% | 1.8% |
| 19 | * | 98 | WR Berkley Corp Grp | 81,249,260 | 36.9% | 1.7% |
| 20 | 16 | 31 | Berkshire Hathaway Grp | 71,365,401 | -0.5% | 1.5% |
For additional information, read the 海角论坛鈥檚 Cyber Insurance report in its entirety.
About the 海角论坛
As part of our state-based system of insurance regulation in the United States, the 海角论坛 (海角论坛) provides expertise, data, and analysis for insurance commissioners to effectively regulate the industry and protect consumers. The U.S. standard-setting organization is governed by the chief insurance regulators from the 50 states, the District of Columbia and five U.S. territories. Through the 海角论坛, state insurance regulators establish standards and best practices, conduct peer reviews, and coordinate regulatory oversight. 海角论坛 staff supports these efforts and represents the collective views of state regulators domestically and internationally.