MSIG USA's Cyber Gambit: New Chief to Tackle Volatile Digital Risk Market

NEW YORK, NY – November 25, 2025 – In a decisive move signaling its ambition in the turbulent cyber insurance sector, MSIG USA announced today the appointment of Ryan Kratz as its new head of cyber for North America. Kratz, who will report to global head of cyber Siobhan O'Brien, is tasked with steering the insurer’s strategic expansion in a market characterized by explosive growth and rapidly evolving threats.

The appointment is more than a leadership change; it's a calculated maneuver by the U.S. arm of global insurance giant MS&AD Insurance Group. As businesses grapple with the financial and operational fallout of digital threats, MSIG USA is positioning itself to capture a larger share of a market that is becoming central to corporate survival.

A Strategic Play in a High-Stakes Market

Kratz steps into his role at a pivotal moment for the North American cyber insurance market. Valued at over $14 billion in 2025, the sector is projected to surge to nearly $74 billion by 2034, driven by a relentless barrage of cyberattacks and tightening regulatory scrutiny, including new SEC disclosure rules. This projected Compound Annual Growth Rate (CAGR) of nearly 18% underscores the immense opportunity for insurers capable of navigating its complexities.

However, the market is rife with contradictions. While the frequency and sophistication of attacks—particularly ransomware—have skyrocketed, with some analyses showing a 1,281% increase in ransomware events over the past five years, insurance premium rates have recently seen a downward trend. Market analysts point to heightened global competition and ample market capacity, which drove an average price decrease of 7% in the first quarter of 2025, marking the tenth consecutive quarter of decline for U.S.-based risks.

This dynamic creates a high-stakes environment where underwriting precision and innovative risk management are paramount. Insurers can no longer simply price risk; they must help clients actively mitigate it. MSIG USA's move to install a seasoned leader like Kratz is a clear indication that it intends to compete on expertise and strategy, not just capacity.

The Hybrid Expert for Complex Digital Risks

Ryan Kratz's professional background makes him uniquely suited for the current landscape. He joins MSIG USA from Ryan Financial Lines, where he was the U.S. practice lead for cyber and technology. More critically, his career began in law, specifically practicing insurance coverage law at Kissel Stratton & Wilmer LLP. There, he represented insurers in complex liability matters involving cyber, professional, and employment practices.

This blend of deep legal acumen and hands-on underwriting experience is precisely what the market now demands. Designing resilient cyber insurance products requires a nuanced understanding of policy language, regulatory liabilities, and the technical realities of a breach. As threat actors shift tactics from simple data theft to causing systemic operational disruption, the legal and financial ramifications of an incident have become more intricate than ever.

"Kratz's combination of deep legal and underwriting experience makes him an exceptional addition to our team," said Siobhan O'Brien in the company's official announcement. "As businesses face increasing complexity and frequency in cyber exposures, his market insight will be key in how we partner with brokers and clients to deliver solutions that are both innovative and resilient."

His appointment signals a focus on developing sophisticated products that can withstand legal challenges and provide genuine financial protection in a worst-case scenario, moving beyond one-size-fits-all policies.

Beyond Premiums: A Proactive Defense Strategy

Kratz's appointment is the latest development in a broader, tech-forward strategy for MSIG USA and its parent company. In August 2025, the insurer announced a significant collaboration with Coalition, a provider of "Active Insurance," to launch a new cyber program for multinational businesses in the U.S. This partnership integrates MSIG USA's financial strength with Coalition's technology platform, which provides real-time risk monitoring, AI-driven threat detection, and incident response services.

This move reflects a fundamental industry shift from a reactive model—paying claims after an incident—to a proactive one focused on prevention and mitigation. This strategy is not confined to North America. The Coalition partnership is an extension of a global relationship with MS&AD Insurance Group, which includes a $30 million equity investment in Coalition and collaborative service rollouts in Australia and Japan.

By embedding technology and active monitoring into its offerings, MSIG USA is aiming to reduce the frequency and severity of claims, a strategy that offers more sustainable value to both the insurer and the insured. It transforms the insurance policy from a simple financial backstop into a component of a company's active cybersecurity posture. Kratz is now charged with accelerating this strategic vision across the North American market.

Shielding Business in an Era of Digital Peril

The urgency behind these strategic investments becomes clear when viewed against the current threat landscape. The average global cost of a data breach has climbed to $4.88 million, with the figure soaring to $9.36 million in the United States. Cybercriminals are increasingly using stolen credentials—a vector that saw a 71% surge in use over the past year—to infiltrate networks and cause widespread disruption.

Financially motivated attacks are on the rise, and vulnerabilities in cloud and SaaS platforms have become a primary source of risk, with nearly every major incident in 2024 involving a cloud component. For businesses, the consequences extend far beyond direct financial loss to include crippling operational downtime, reputational damage, and loss of customer trust.

It is this environment of digital peril that makes robust cyber insurance a non-negotiable part of modern risk management. "Cyber is one of the most important and fast-growing risk areas for our clients, and expanding our capabilities in the space is a strategic priority for MSIG USA," stated CEO Peter McKenna. "Ryan Kratz's expertise strengthens our ability to meet the needs of a dynamic market and reinforces our commitment to building a leading cyber platform for the U.S."

Kratz's leadership will be critical in translating this commitment into tangible solutions that help businesses build resilience. His appointment is a clear signal that for leading insurers like MSIG USA, the future of cyber insurance lies not just in covering losses, but in actively helping clients prevent them in the first place.