Munich Re is buying cyber-insurer At-Bay for $575mn, half its 2021 price

Munich Re will acquire cyber-insurer At-Bay for $575 million, valuing the company at less than half its 2021 $1.35 billion valuation. At-Bay, founded in 2016 and serving about 40,000 U.S. SMBs with “InsurSec” insurance-plus-security platforms, will join Munich Re’s Hartford Steam Boiler unit. The deal, slated to close in Q1 2027 pending regulatory approval, aims to expand Munich Re’s presence in bundled cyber-cover and continuous risk-management solutions.