Article ID: b20af9215cff15cde0377cca7ce75c99f4649e87d940a389020a1881fe62d526
Source ID: secondary:businessinsurance.com
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Extraction Method: bs4_heuristic
URL: https://www.businessinsurance.com/munich-re-agrees-to-buy-us-cyber-insurer-at-bay/
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Munich Re agrees to buy US cyber insurer At-Bay - Business Insurance Skip to content Register for free Search Search Log In Risk Management Cyber Risks Pricing Trends Mergers & Acquisitions Technology Sponsored Content WSIA RISKWORLD Workers Comp & Safety Workers Comp Cost Control Pain Management Workplace Safety International EMEA Asia-Pacific Latin America People Events BI Intelligence Top 100 Agents & Brokers Best Places to Work 2025 Lists Directories Insurance Pricing BI Stock Index Magazine Current Issue Past Issues Subscribe Women to Watch ALL INsurance Resources Risk Perspectives Sponsored Content Webinars White Papers Risk Management Cyber Risks Pricing Trends Mergers & Acquisitions Technology Sponsored Content WSIA RISKWORLD Workers Comp & Safety Workers Comp Cost Control Pain Management Workplace Safety International EMEA Asia-Pacific Latin America People Events BI Intelligence Top 100 Agents & Brokers Best Places to Work 2025 Lists Directories Insurance Pricing BI Stock Index Magazine Current Issue Past Issues Subscribe Women to Watch ALL INsurance Resources Risk Perspectives Sponsored Content Webinars White Papers Risk Management Cyber Risks Pricing Trends Mergers & Acquisitions Technology Sponsored Content WSIA RISKWORLD Workers Comp & Safety Workers Comp Cost Control Pain Management Workplace Safety International EMEA Asia-Pacific Latin America People Events BI Intelligence Top 100 Agents & Brokers Best Places to Work 2025 Lists Directories Insurance Pricing BI Stock Index Magazine Current Issue Past Issues Subscribe Women to Watch ALL INsurance Resources Risk Perspectives Sponsored Content Webinars White Papers Risk Management Cyber Risks Pricing Trends Mergers & Acquisitions Technology Sponsored Content WSIA RISKWORLD Workers Comp & Safety Workers Comp Cost Control Pain Management Workplace Safety International EMEA Asia-Pacific Latin America People Events BI Intelligence Top 100 Agents & Brokers Best Places to Work 2025 Lists Directories Insurance Pricing BI Stock Index Magazine Current Issue Past Issues Subscribe Women to Watch ALL INsurance Resources Risk Perspectives Sponsored Content Webinars White Papers Munich Re agrees to buy US cyber insurer At-Bay by Gavin Souter Cyber Risks , Mergers and Acquisitions Munich Re Aug 19, 2026 Munich Re Group has agreed to acquire At-Bay in a deal that values the cyber insurer’s overall business at $575 million, after previously providing capacity to and investing in At-Bay through its Hartford Steam Boiler operations. San Francisco-based At-Bay, which has about 280 employees, recorded about $278 million in gross written premium in 2025, plus $23 million in cyber fee service revenue, according to a Munich Re statement. The deal is expected to close in the first quarter of 2027. At-Bay, co-founded in 2016 by CEO Rotem Iram and Chief Risk Officer Roman Itskovich in, offers cyber insurance and cybersecurity services primarily to small and midsize U.S. businesses. It will be overseen by HSB, part of Munich Re’s global specialty insurance business, Munich Re said. HSB has provided capacity to the company since At-Bay’s early years, and Munich Re Ventures, through its HSB fund, has also invested in the company. In 2021, At-Bay raised $185 million in a funding round that valued the company at $1.35 billion. The HSB fund of Munich Re Ventures was among the existing investors participating in the round. In 2022, At-Bay said HSB was its largest capital provider and lead reinsurer. At-Bay acquired an E&S insurer in 2023 and began issuing cyber and technology errors and omissions policies on its own paper later that year. The company combines cyber coverage with technology that monitors policyholders’ cyber exposures and provides security services intended to reduce losses. Munich Re said the acquisition is intended to expand its position in cyber insurance as the market increasingly combines insurance coverage with cybersecurity services and ongoing risk mitigation. 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