2026-08-19 · Source: Reinsurance News
Summary in 3 Points • Munich Re has agreed to acquire US-based cyber insurtech At-Bay for $575 million • The acquisition is expected to close in the first quarter of 2027 • At-Bay focuses on the SME market, offering integrated cyber risk solutions --- Munich Re has announced its agreement to acquire At-Bay, a US-based insurtech specialising in cyber insurance and risk management, for an enterprise value of $575 million. The acquisition is set to close in the first quarter of 2027, with At-Bay to be managed by Hartford Steam Boiler (HSB), part of Munich Re’s Global Specialty Insurance business. At-Bay, founded in 2017, has grown into a prominent US cyber insurer with gross written premiums of $278 million as of 2025. The acquisition aims to enhance Munich Re's presence in the cyber market by integrating At-Bay's advanced tech platform with its own insurance and risk mitigation capabilities, focusing on the SME sector in the US.
The acquisition of At-Bay by Munich Re could have direct consequences for the London insurance market, particularly in the cyber insurance sector. As Munich Re strengthens its cyber offerings, London market insurers may face increased competition, prompting them to innovate and enhance their own cyber risk solutions. The integration of At-Bay's tech platform with Munich Re's expertise may lead to new product offerings and underwriting practices that could influence market standards. Additionally, this move points to the growing importance of cyber insurance, potentially impacting policy wordings and pricing strategies in the London market.