Munich Re Acquires Cyber Insurtech At-Bay for $575 Million

• •Munich Re is acquiring At-Bay for $575 million to strengthen its cyber insurance offerings.
• •At-Bay focuses on providing cyber insurance and risk management for small and medium-sized enterprises.
• •The acquisition is expected to close in Q1 2027, pending regulatory approvals.

Munich Re Group has announced its agreement to acquire At-Bay, a U.S.-based insurtech specializing in cyber insurance and risk management, for an enterprise value of $575 million. This acquisition aims to enhance Munich Re's position in the evolving cyber insurance market, particularly focusing on small and medium-sized enterprises (SMEs). At-Bay, founded in 2017, has grown to become a top-10 U.S. cyber insurer with gross written premiums of $278 million. The deal will be overseen by HSB, Munich Re's technology-focused arm, and is expected to close in the first quarter of 2027, pending regulatory approvals. At-Bay's unified security platform continuously identifies and mitigates cyber risks, providing valuable data insights for underwriting and security innovation. The acquisition is seen as a strategic move to integrate insurance with proactive cybersecurity solutions, addressing the needs of businesses that often lack resources for effective risk management.