Global cyber premium to more than double by 2030: Munich Re

supimol kumying – shutterstock.com Despite isolated successful investigations by international security authorities, cybercriminals are generating increasing profits year after year. According to an analysis by the reinsurer Munich Re, the damage caused by hackers and other online perpetrators worldwide increased again last year. According to the analysis, the number of global extortion attacks using malicious "ransomware" could have increased b…

The proportion of global reinsurance protection provided by German reinsurers under BaFin supervision is disproportionately high compared to Germany's share of global economic power. The insurers' association GDV points out this in a current analysis. In terms of net premiums, Germany ranks third behind Bermuda and the USA in international comparison.

Global cyber premium to more than double by 2030: Munich Re

Despite cyber premium growth slowing in the past two years, Munich Re has suggested that global premium volume will more than double by 2030, growing at an average annual growth rate of more than 10%. According to estimates by the reinsurer, the global cyber insurance market premium totaled $15.3 billion in 2024. “This corresponds to less than 1% of the global premium volume for Property and Casualty insurance in 2024, which underscores the enor…

Munich – Despite isolated successful investigations by international security authorities, cybercriminals are generating increasing profits year after year. According to an analysis by reinsurer Munich Re, the damage caused by hackers and other online criminals worldwide increased again last year. According to the study, the...