Munich Re to acquire US cyber insurance provider At-Bay for $575 million

Key Takeaways

• At‑Bay has achieved strong growth and innovation in cyber underwriting, including proactive risk monitoring and lower ransomware claims frequency, backed by significant venture funding, including from Munich Re Ventures. (at-bay.com)
• The acquisition underscores Munich Re’s strategic expansion in the cyber insurance space as part of its Ambition 2030 strategy to deepen specialty insurance offerings. (munichre.com)
• The purchase price of $575 million is significantly below At‑Bay’s $1.35 billion post‑money valuation in 2021, potentially reflecting market shifts or valuation recalibration in the cyberinsurance sector. (at-bay.com)