Ransomware is growing beyond traditional hotspots and in emerging economies, including Latin America, Africa, the Middle East, and Asia, according to a new research by cyber risk analyst firm CyberCube.
The new 11-page report "Applying Analytics and Threat Intelligence to Grow in a Soft Market" reveals that these trends underscore ransomware’s shift beyond traditional hotspots and toward regions undergoing rapid digitalisation, uneven defenses, and growing strategic importance.
The report for the second half of 2025 analyses how (re)insurers are tightening focus, prioritising efficiency and margin stability over pure premium expansion in the current soft market. It notes that after three consecutive years of rate reductions, the cyber market remains soft, with capacity outpacing demand.
Heightened competition has driven concessions on premiums, limits and coverage terms. Meanwhile, cyber threats and particularly ransomware continue to expand in both scale and geography.
The research findings also include:
• Sustainable growth requires diversification and innovation across industries, regions, SMEs, and emerging risks.
• The Public Sector illustrates both the challenges and opportunities shaping today’s cyber insurance market. It combines high exposure and uneven security maturity with increasing reliance on digital systems.
• Amid budget cuts and personnel shortages, network misconfigurations remain a leading vulnerability for Public Sector organizations. Yet despite the sector being highly Exposed and under Secured relative to the global average, there are pockets of opportunity.
CyberCube head of cyber threat and author of the research report William Altman said, “Cyber insurance is poised to remain one of the most dynamic and strategically vital segments within the property and casualty sector.
“As the sector matures, future expansion will hinge on serving underinsured segments, new geographies, and emerging risk classes. As the market approaches 2026, success in cyber (re)insurance will depend on precision, insight, and the ability to align opportunity with exposure.”