2026-08-20 · Source: The Next Web (API)
Summary in 3 Points • Munich Re is acquiring cyber-insurance startup At-Bay for $575mn • The deal values At-Bay at less than half its 2021 valuation • At-Bay serves approximately 40,000 US businesses with cyber insurance --- Munich Re has announced its acquisition of At-Bay, a cyber-insurance startup, for $575 million, significantly lower than its 2021 valuation of $1.35 billion. The acquisition is expected to close in the first quarter of 2027, pending regulatory approvals. At-Bay, which primarily provides cyber insurance to small and medium-sized businesses, will be integrated into Munich Re’s Hartford Steam Boiler unit. The startup's approach, branded as 'InsurSec', combines insurance with security software to prevent cyber attacks. This acquisition aligns with Munich Re's strategy to shift from standalone cyber policies to integrated platforms that bundle insurance with security measures. At-Bay's co-founder and CEO, Rotem Iram, sees the sale as a strategic move to scale operations and close the cybersecurity protection gap for underserved businesses.
The acquisition of At-Bay by Munich Re could signal a shift in the London Market towards integrated cyber insurance solutions that combine coverage with proactive security measures. This approach may influence underwriting practices and policy wordings, as insurers seek to reduce claims by preventing cyber incidents before they occur. The move could also affect pricing strategies, as the integration of security services may lead to more competitive premiums for clients. Additionally, the acquisition points to the growing importance of cyber insurance in the market, which could lead to increased demand for specialised cyber risk expertise among London Market professionals.