Light Upon CYber insurance / © Amrae - 13 - Mid-cap companies The market is regaining room to maneuver After a 44% increase in 2020 and a 20% increase in 2021, the rate of growth in the number of Mid-cap companies insured against cyber risk has slowed slightly to 12% in 2022. The 591 Mid-cap companies covered by a cyber policy represent 10% of the national workforce of companies with revenues of between €50 million and €1.5 billion. They paid a total of €38.20 million in insurance premiums for cyber coverage: a total volume that is up 58% compared to 2021. The average premium is therefore nearly €65,000 per company in this segment. Thanks to a very contained loss experience (€19.40 million in claims), the Mid-cap market has returned to profitability with an LOSS RATIO of 50.7% in 2022. This is a relief for insurers after a year 2021 marked by an LOSS RATIO of 260%: that year, the €24.20 million in premiums collected were far from covering the €63.10 million in claims paid. These losses were reminiscent of the painful year of 2019, when the LOSS RATIO of the Mid-cap market reached a record high of 480%. The amount of compensation paid out had then been nearly 5 times higher than the amount of premiums collected. It must be said that the cyber insurance market was still very young. We will see in chapter II how this market has matured since then. Mid-cap companies: falling claims experience improves S/P 85% 261% 51% 70 60 50 40 30 20 10 - 300 200 100 - 2020 2021 2022 €M % n Premium n Disaster l Loss ratio 15 13 24 63 38 19
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