With total premiums of $1.53 billion this year, the UK cyber insurance market will reach almost $3 billion by 2030, according to a May 2025 Markets and Research report.
CAGR of 13.4% in Market
The report attributes the growth of the British cybersecurity insurance market to increasing regulations and growing awareness of cyber threats among businesses, especially small and medium-sized ones. Well-publicized losses from recent cyber attacks at major UK companies, such as Marks and Spencer’s potential loss of over $400 million in profits from its hack this year, are no doubt driving demand for cyber insurance.
The report also estimates that 96% of insurers now offer coverage for business interruption losses caused by cyber attacks.
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