Munich Re Acquires Cyber Insurtech Company At-Bay in $575 Million Deal
Munich Re has agreed to acquire US-based insurtech company At-Bay for an enterprise value of $575 million. The acquisition aims to strengthen Munich Re's position in the cyber insurance market by integrating cover with proactive risk mitigation and a technology platform, as demand shifts toward continuously managed solutions. At-Bay’s security platform helps identify and reduce insured cyber risks while generating data insights that enhance underwriting processes. The deal will be overseen by HSB, the cyber-focused division of Munich Re's Specialty insurance portfolio. Since 2017, HSB has been a strategic partner to At-Bay, helping it grow into one of the top ten US cyber insurers with $278 million in gross written premiums. The acquisition is expected to close in Q1 2027 after regulatory approvals and other customary conditions are met. At-Bay CEO Rotem Iram emphasized that joining Munich Re will help accelerate efforts to address cybersecurity gaps for small businesses, while Mike Kerner of Munich Re highlighted the expansion of their specialty insurance expertise. The deal reflects a broader trend in cyber insurance toward integrated risk solutions.
Topics: acquisitions cybersecurity insurance insurtech