Beazley PLC (LSE:BEZ), at 44%, tops that by some way. The Lloyds insurer has the highest exposure amongst global listed insurers to cyber risks, at 19% of 2023 net premiums, which analyst James Pearse views as "the best structural growth opportunity in global insurance". Its 2.4% market share in US cyber insurance is topped by an even larger share in Europe, where the market backdrop is "very attractive" and roughly seven years behind the US in terms of the cyber insurance growth cycle.