Cyber

The property and specialty insurer reported underwriting profits of $131mn ($170mn).

The product provides primary and excess coverage limits up to £5mn.

The cyber insurance market is poised for growth in 2025, but staying competitive requires innovation and adaptability to new risks. Andy Maher, head of cyber & technology, London, for AXIS, shares insights on industry trends and challenges ahead.

Predicting underwriting conditions for the remainder of the year is ‘challenging’.

The London carrier posted an undiscounted combined ratio of 79%, up from 74% in 2023.

The MGA’s US clients will now have access to London market capacity.

This year's modelled outputs have increased across all return periods.

The CMC will categorise cyber events that have a potential financial impact of £100mn+.

The carrier’s US platform will continue to be led by long-time executive Sal Pollaro.

Jason Hart, head of proactive cyber, was also promoted to managing director.

The underwriter joined the business from Hiscox in 2022.

Panellists discussed the softening market, and what would flip the switch on rates.