Market overview

The Brazil cyber insurance market reached USD 241.40 Million in 2024 and is projected to grow to USD 1,305.83 Million by 2033, exhibiting a strong CAGR of 18.39% during 2025-2033. Market expansion is driven by increasing cyberattacks, rapid digitalization across industries, and rising demand for tailored protection against data breaches, ransomware, and other digital threats. The BFSI, healthcare, and IT sectors represent major adopters due to their extensive data handling needs.

Study assumption years

Base Year: 2024
Historical Years: 2019-2024
Forecast Period: 2025-2033

Brazil cyber insurance market key takeaways

• Market Size (2024): USD 241.40 Million
• Market Size (2033): USD 1,305.83 Million
• CAGR (2025-2033): 18.39%
• Increasing cyberattacks and digital transformation are central growth drivers.
• BFSI, healthcare, and IT sectors show strong demand for cyber protection solutions.
• Enforcement of LGPD is accelerating cyber insurance adoption.
• Growth of e-commerce and digital services increases the need for comprehensive cyber coverage.

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Market growth factors

The market is significantly driven by increasing awareness of cybersecurity risks and rising incidents of ransomware, phishing, and large-scale data breaches. Businesses across Brazil face intensified exposure as digital operations expand, pushing organizations to adopt cyber insurance for financial protection and operational continuity. Cyber insurance is now a critical component of corporate risk management strategies.

Brazil’s General Data Protection Law (LGPD) acts as a major catalyst. It enforces strict requirements for securing personal data and imposes substantial penalties for data breaches. As a result, organizations adopt cyber insurance policies covering data breach costs, cyber extortion, forensic investigations, and business interruption. Compliance pressures and reputational risk concerns further strengthen market demand.

The rapid expansion of e-commerce, digital payments, telemedicine, and cloud-based services increases the volume of sensitive data handled across industries. This encourages companies in retail, healthcare, telecom, and BFSI to integrate cyber insurance into long-term cybersecurity frameworks, driving the market’s sustained growth.

Market segmentation – Brazil cyber insurance market

Component insights

• Solution
• Services

Insurance type insights

• Packaged
• Stand-alone

Organization size insights

• Small and Medium Enterprises
• Large Enterprises

End-use industry insights

• BFSI
• Healthcare
• IT and Telecom
• Retail
• Others

Regional insights

• Southeast
• South
• Northeast
• North
• Central-West

The Southeast region is identified as the dominant market due to its advanced corporate ecosystem, strong financial sector presence, and higher cybersecurity maturity.

Recent developments & news – Brazil cyber insurance market

• July 2025: Resecurity expanded its Brazil operations to support LGPD compliance and enhance cyber resilience through AI-driven threat intelligence solutions.
• November 2024: Tokio Marine reported strong underwriting performance in Brazil and North America and introduced cyber event cancellation coverage, signaling portfolio expansion amid a softening market cycle.

Key players

• Resecurity
• Tokio Marine

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If you require additional data points or further segmentation not covered in this summary, they can be provided as part of the customization.

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