Key facts
- Munich Re will acquire U.S.-based cyber insurance provider At-Bay.
- The enterprise value of the acquisition is $575 million.
- At-Bay provides integrated cyber insurance and cybersecurity solutions for small and medium-sized enterprises (SMEs).
- The acquisition is expected to close in the first quarter of 2027.
- At-Bay will be overseen by Hartford Steam Boiler (HSB), a subsidiary of Munich Re.
Munich Re Group has announced its agreement to acquire U.S.-based insurtech company At-Bay for an enterprise value of $575 million. The deal, expected to close in the first quarter of 2027, is a strategic move to bolster Munich Re's and its subsidiary Hartford Steam Boiler's (HSB) leadership in the cyber insurance market.
At-Bay specializes in providing integrated cyber insurance and proactive cybersecurity solutions for small and medium-sized enterprises (SMEs). This acquisition aims to combine insurance with advanced risk mitigation and a technology platform, positioning Munich Re for greater access to a rapidly evolving cyber market that is shifting towards continuously managed risk mitigation platforms.
HSB, which has been a strategic partner to At-Bay since its founding in 2017, will oversee the acquired company. HSB's expertise in technology and cyber underwriting is expected to support At-Bay's further growth in the U.S. market. At-Bay currently employs approximately 280 individuals in the U.S. and Israel and serves organizations that face increasing cyber risks but may lack the resources to manage them effectively.
Rotem Iram, CEO and co-founder of At-Bay, stated that joining Munich Re will accelerate At-Bay's mission to address the cybersecurity protection gap for businesses. The integration is intended to create a continuous risk management ecosystem connecting insurance, security, and claims.