Munich Re has agreed to acquire At-Bay, a US-based cyber insurance and cybersecurity startup, for an enterprise value of $575 million. This represents a significant markdown from At-Bay’s $1.35 billion valuation during its 2021 Series D round. Founded in 2017, the company serves approximately 40,000 small and medium-sized enterprises across the US and reported gross written premiums of roughly $278 million plus $23 million in cybersecurity service fee revenues as of December 31, 2025. At-Bay employs around 280 people across the US and Israel. The deal, expected to close in Q1 2027 pending regulatory approvals, will integrate At-Bay into Hartford Steam Boiler, Munich Re’s subsidiary specializing in technology and cyber risks.
Source: Read the original article
