As cyber insurance remains the fastest growing sub-sector of the global insurance market, S&P has underlined the importance of reinsurance in the development of a sustainable and effective market.
According to S&P, primary carriers ceded around 50% to 65% of their cyber insurance premiums to reinsurers in 2022, depending on the region. This is significant, and highlights the heavy reliance on reinsurance in the cyber insurance sector.
“In our view, reinsurers will remain an important pillar in the development of a sustainable and effective cyber insurance market,” says S&P.
