Acquisition of At-Bay by Munich Re Group
Munich Re Group reached an agreement to acquire the U.S.-based cyber insurtech company At-Bay for an enterprise value of $575 million.
Aggregated from 7 sources · Updated 23 Aug 2026, 04:01 UTC (UTC)
Coverage Balance
7 sourcesBlindspot Alert: Center Gap
This event is primarily covered by one side of the political spectrum. Niche or counter-narrative facts may be underrepresented.
Facts (10)
- Established
Munich Re Group agreed to acquire At-Bay for an enterprise value of $575 million.
- Established
The transaction is expected to close in the first quarter of 2027, pending regulatory approvals.
- Established
At-Bay will be integrated into and overseen by Hartford Steam Boiler (HSB), a subsidiary within Munich Re’s Global Specialty Insurance business.
- Established
At-Bay's gross written premiums totaled $278 million at the end of 2025.
- Established
At-Bay employs approximately 280 people across locations in the United States and Israel.
- Emerging
The $575 million acquisition price represents a decrease from At-Bay's 2021 post-money valuation of $1.35 billion.
- EmergingNiche Signal
Munich Re generated a total of $1.7 billion in cyber insurance premiums in 2025.
- EmergingNiche Signal
At-Bay identifies risk factors associated with 86% of customer claims through its unified security platform.
- Attribution
At-Bay CEO Rotem Iram stated that joining Munich Re will accelerate the company's mission to close the cybersecurity protection gap for businesses.
- Attribution
Munich Re Board Member Mike Kerner described the acquisition as a component of the company's future cyber offering and a driver for earnings growth.