Beazley Second in Latest NAIC Rankings of the Top 20 Largest Domestic Cyber Insurers Accounting for 76.82% of all Direct Written Premium
Chubb retained its position as the largest U.S. domestic cyber insurer in 2025, reporting $629.2 million in direct written premium and an 8.44% market share, according to the National Association of Insurance Commissioners’ (NAIC) 2026 Report on the Cybersecurity Insurance Market.
One of the largest movers in the space in 2025 was the insurer Beazley, who moved from 16th place in 2024 to second in 2025, with $570.9 million in direct written premium and a 7.65% market share.
New England-based insurer Travelers ranked third, with $543.9 million in written premium and a 7.29% share, followed by Sompo and Tokio Marine.
Top 20 Cyber Insurers Account for Nearly 77% of Domestic Premium
The NAIC’s rankings show that the 20 largest domestic insurance groups accounted for 76.82% of the domestic cyber insurance market in 2025. Together, these insurers wrote approximately $5.73 billion in direct premium.
The 10 largest groups accounted for 51.03% of domestic premium, with approximately $3.81 billion in direct written premium.
Several insurers experienced substantial changes in their rankings. In addition to Beazley’s rise to second place, Sompo advanced from ninth to fourth, while QBE moved from 17th to 11th. Intact Financial rose from 20th to 16th.
Among the insurers moving lower in the rankings, AXA declined from fifth to 14th, while Fairfax Financial moved from third to sixth.
A Sortable Listing of the Top 20 Insurers
The following is a sortable chart of the top 20 Domestic cyber insurers as reported in the NAIC report. Individuals interested in reviewing or sorting specific data, including premiums, market share, and loss ratios, can do so by clicking any of the column headings.
With that said, however, there is one important data point to note. The cumulative market-share column preserves the NAIC’s original ranking sequence. When a reader sorts by loss ratio or another column, the cumulative percentages remain unchanged because they represent the original premium-based rankings, not a newly calculated cumulative share.
Top 20 U.S. Domestic Cyber Insurers — 2025
Click any column heading to sort the table.
| 1 | 1 | Chubb Ltd Grp | $629,201,236 | 58.81% | 8.44% | 8.44% |
| 2 | 16 | Beazley Grp | $570,949,568 | 16.28% | 7.65% | 16.09% |
| 3 | 2 | St Paul Travelers Grp | $543,864,601 | 58.26% | 7.29% | 23.38% |
| 4 | 9 | Sompo Grp | $341,952,941 | 60.78% | 4.58% | 27.96% |
| 5 | 4 | Tokio Marine Holdings Inc Grp | $319,281,234 | 56.60% | 4.28% | 32.24% |
| 6 | 3 | Fairfax Financial | $301,874,198 | 53.62% | 4.05% | 36.29% |
| 7 | 8 | American Intrnl Grp | $296,192,570 | 62.28% | 3.97% | 40.26% |
| 8 | 6 | Arch Ins Grp | $284,315,426 | 41.60% | 3.81% | 44.07% |
| 9 | 7 | At Bay Specialty Ins Co | $268,150,877 | 73.45% | 3.60% | 47.67% |
| 10 | 10 | Starr Grp | $250,782,708 | 3.75% | 3.36% | 51.03% |
| 11 | 17 | QBE Ins Grp Ltd | $231,214,119 | 74.42% | 3.10% | 54.13% |
| 12 | 12 | AXIS Capital Grp | $230,866,128 | 61.73% | 3.10% | 57.23% |
| 13 | 11 | CNA Ins Grp | $212,411,370 | 59.51% | 2.85% | 60.08% |
| 14 | 5 | AXA Ins Grp | $204,474,929 | 72.29% | 2.74% | 62.82% |
| 15 | 13 | AmTrust Financial Serv Grp | $200,803,833 | 60.28% | 2.69% | 65.51% |
| 16 | 20 | Intact Financial Grp | $198,641,587 | 26.15% | 2.66% | 68.17% |
| 17 | 14 | Berkshire Hathaway | $173,269,759 | 88.03% | 2.32% | 70.49% |
| 18 | 15 | Hartford Fire & Cas Grp | $166,492,869 | 10.70% | 2.23% | 72.72% |
| 19 | 18 | Liberty Mut Grp | $161,246,818 | 60.77% | 2.16% | 74.88% |
| 20 | 19 | Zurich Ins Grp | $145,021,055 | 54.81% | 1.94% | 76.82% |
Source: NAIC, 2026 Report on the Cybersecurity Insurance Market (2025 reporting year). Market shares represent domestic insurers and exclude alien surplus lines premium. DCC means defense and cost containment expenses. Cumulative share reflects the original 2025 premium ranking and does not change when rows are sorted.
Loss Ratios Vary Considerably Among Leading Cyber Insurers
The NAIC figures also show considerable differences in reported loss ratios, including defense and cost containment expenses (DCC).
For example, among the 20 largest insurers, Berkshire Hathaway reported the highest loss ratio at 88.03%, followed by QBE at 74.42% and At-Bay Specialty Insurance Company at 73.45%.
Overall Starr was the insurer that reported the lowest ratio at 3.75%, followed by Hartford Fire & Casualty Group at 10.70% and Beazley at 16.28%.
As for the top three cyber insurers, Chubb’s reported loss ratio was 58.81%, while the third-largest cyber insurer Travelers reported 58.26%. Notably, second-ranked Beazley’s loss ratio was much lower in comparison at 16.28%.
Overall U.S. Cyber Insurance Premium Returns to Growth
The latest rankings come as the broader U.S. cyber insurance market returned to modest premium growth in 2025. According to the NAIC, total U.S. direct written premium, including alien surplus lines insurers, reached approximately $9.46 billion, an increase of about 3.5% from $9.14 billion in 2024.
Domestic insurers accounted for approximately $7.46 billion, while alien surplus lines insurers reporting through the International Insurers Department (IID) contributed roughly $2 billion.
Domestic cyber insurance premium has increased from $2.75 billion in 2020 to $7.46 billion in 2025, representing a compound annual growth rate of approximately 22%.
The NAIC characterized the market’s recent trajectory as a shift away from rapid hard-market expansion toward a steadier pattern of premium growth.
