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Munich Re to Acquire US Cyber Insurance Provider At-Bay for $575 Million
The deal gives Munich Re a larger cyber insurance platform as At-Bay investors face markdowns from the company’s $1.36 billion 2021 peak valuation.
- On Wednesday, Munich Re announced an agreement to acquire cyber insurtech At-Bay for $575 million. The German insurance group aims to integrate the startup into its specialty unit to strengthen cyber insurance and security capabilities.
- Munich Re framed the acquisition as a strategic shift toward integrated "InsurSec" platforms that pair cyber insurance with security software. This approach aims to reduce customer risk and sharpen underwriting for small businesses facing evolving cyber threats.
- At-Bay's $575 million valuation marks a significant comedown from its 2021 peak of $1.36 billion, according to PitchBook. Despite the lower price, the firm protects close to 40,000 businesses across the United States.
- At-Bay will integrate into Hartford Steam Boiler, Munich Re's cyber-focused specialty unit, after the deal closes in the first quarter of 2027. Board member Mike Kerner called the startup "a perfect addition to our specialty insurance portfolio."
- This transaction marks Munich Re's second major acquisition in Israel, following its purchase of Next Insurance last year. The move deepens the group's ties to the region's insurance-technology scene amid sector challenges from rising interest rates.
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Munich Re buys cyber-insurer At-Bay for $575mn
Munich Re has agreed to buy At-Bay, a cyber-insurance startup, for $575mn. The deal values the company at less than half what it was worth in 2021. The German insurance group announced the acquisition on Wednesday, in a statement. The price is a reset. At-Bay was valued at $1.35bn in its last funding round in […] This story continues at The Next Web
·Amsterdam, Netherlands (Kingdom of the)
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Munich Re to acquire US cyber insurance provider At-Bay for $575 million
·London, United Kingdom
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Municher Rück pays 575 million dollars for the company founded in 2017, which primarily covers small and medium-sized companies against cyber attacks.
·Düsseldorf, Germany
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Coverage Details
Total News Sources12
Leaning Left1Leaning Right1Center3Last UpdatedBias Distribution60% Center
Bias Distribution
- 60% of the sources are Center
60% Center
L 20%
C 60%
R 20%
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