Swiss Re puts global cyber premium at $16.4 billion and says AI is amplifying existing risks rather than creating new ones
Swiss Re's “Building a sustainable cyber market in the AI era” estimates global cyber insurance premium at USD 16.4 billion in 2026 and USD 17.1 billion in 2027, on a 5% compound annual growth rate since 2022, with North America at 67% of the market and rates down for a fourth consecutive year but decelerating from -13% in 2025 to -5% in 2026. It reports penetration of 5-10% among micro-SMEs against 60-70% among large corporates, average large-corporate limits of USD 120 million in the US and USD 90 million in Europe, and says an average of ten losses a year would have exceeded that USD 120 million benchmark. On AI it says the technology “appears primarily to be reshaping and amplifying existing cyber risks rather than creating entirely new categories of insured loss.”