According to a new report released by Lockton Re, the reinsurance arm of the privately held independent insurance broker, the capital markets are a critical aspect for the continued growth of the cyber reinsurance market.
As per Lockton Re, the cyber insurance market is projected to more than double by 2030, with conservative estimates suggesting that the market will grow to around $30 billion to $40 billion by 2030, which will have wide-ranging implications for both the cyber re/insurance sector and the broader insurance industry.
However, the firm stresses that this growth is not automatic, and that it will depend on deliberate strategic actions by market participants.
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