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Cybersecurity Insurance Market Share

Report ID: GMI6407
Published Date: Aug 2023
Report Format: PDF

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Cybersecurity Insurance Market Share

Major players operating in the cybersecurity insurance industry are:

American International Group Inc.
Aon PLC
Axis Capital
BitSight
Corporation
Liberty Mutual
Lockton Companies Inc.
Munich RE
The Chubb Corporation
The Hanover Insurance Inc.
Zurich Insurance Co. Ltd.

These companies focus on strategic partnerships and product launches to increase their market share and provide insurance cover to a wide range of organizations.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

Market size for cybersecurity insurance was worth USD 16.4 billion in 2023 and is projected to expand at over 20.5% CAGR from 2024 to 2032 driven by stringent regulatory compliance across several economies.

The BFSI segment accounted 26% share of the cybersecurity insurance industry in 2023 and is projected to witness high demand through 2032 across the banking, financial services, and insurance (BFSI) sector due to the sector's high-value transactions and sensitive customer data.

North America held more than 32% share of the cybersecurity insurance industry in 2023 and is set to expand at a notable CAGR from 2024-2032 attributed to the region's highly digitalized economy, extensive use of technology, and the increasing frequency of cyberattacks.

American International Group Inc., Aon PLC, Axis Capital, BitSight, Corporation, Liberty Mutual, Lockton Companies Inc., Munich RE, The Chubb Corporation, The Hanover Insurance Inc., and Zurich Insurance Co. Ltd. are among the top firm engaged in the cybersecurity insurance market.