Munich Re to acquire cyber insurtech company At-Bay for $575m

Munich Re to acquire cyber insurtech company At-Bay for $575m

Shubhendu Vimal

Wed, August 19, 2026 at 5:35 PM GMT+3 2 min read

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Munich Re has agreed to acquire US-based insurtech company At-Bay at an enterprise value of $575m (€493.67m).

At-Bay's unified security platform identifies, monitors and reduces insured cyber risk across the policy life cycle, while also generating data insights to improve underwriting and security innovation, the German group said.

It will be overseen by Hartford Steam Boiler (HSB), the technology-forward, cyber-focused arm of Munich Re's Specialty insurance portfolio.

Munich Re said: "A main strategic partner since At-Bay's founding in 2017, HSB has supported At-Bay's development into a top-ten US cyber insurer with gross written premiums totalling $278m."

At-Bay CEO and co-founder Rotem Iram said: "Joining Munich Re will accelerate At-Bay's mission to close the cybersecurity protection gap for the 90% of businesses being left behind.

"At-Bay is a market leader in InsurSec [insurance plus security] combining cyber insurance and cybersecurity into a complete and integrated cyber risk solution."

The deal is intended to strengthen Munich Re's position in the cyber insurance market, combining cover with proactive risk mitigation and a technology platform, as the market shifts from stand-alone cover towards "integrated, continuously managed risk mitigation".

At-Bay employs approximately 280 people across the US and Israel.

The transaction is subject to customary closing conditions including regulatory approvals, with completion expected in the first quarter of 2027.

Munich Re management board member Mike Kerner added: "The acquisition further expands the depth and breadth of our specialty insurance expertise, ultimately benefitting all partners and clients of Munich Re Specialty."

In February this year, HSB rolled out a new insurance product targeting cyber risks for commercial vehicles that use internet-connected technology.

The coverage, named HSB Commercial Cyber for Auto, was structured to help small and medium-sized enterprises deal with disruptions from vehicle-focused cyber incidents.

The policy addresses scenarios such as malware attacks that compromise vehicle systems or data, and responds to cyber extortion demands, whether payment is requested in money or cryptocurrency.

"Munich Re to acquire cyber insurtech company At-Bay for $575m" was originally created and published by Life Insurance International, a GlobalData owned brand.