Best’s News & Research Service - August 12, 2022 10:28 AM (EDT)
Best’s Rankings: Total US Stand-Alone Cyber DPW Grows 94.7% in 2021
OLDWICK, N.J. //BestWire// - Total U.S. stand-alone cyber direct premiums written boomed 94.7% in 2021, led by Fairfax Financial (USA) Group, which jumped from fifth in 2020 to the top of the list, according to a new Best’s Ranking report.
Fairfax’s direct premiums written grew 302.5% in 2021, to $436.3 million, it said. That led the U.S. property/casualty industry, which reported a total of $3.15 billion in stand-alone direct premiums written, it said.
Following Fairfax in second place was 2020 leader XL Reinsurance America Group, with $421 million, it said.
Also making a big jump among the top 10 were Tokio Marine US PC Group, which moved up from 10th to fourth, with $192.9 million in stand-alone direct premiums written and eighth-place Arch Insurance Group, which had been 27th in 2020. It reported $143.6 million in stand-alone direct premiums written in 2021, it said.
The Best’s Ranking report lists the top 50 writers of stand-alone cyber insurance in 2021, their direct premium written and the percentage change from 2020. It also lists the aggregate totals for the top 25 writers, the top 50 writers and the total for the U.S. property/casualty industry.
Subscribers to Best’s News and Research Service can download the report at no charge, including data in spreadsheet format.
Subscribers can access the report and data here.
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(By Timothy Darragh, associate editor, BestWeek: Timothy.Darragh@ambest.com)