At-Bay has agreed to be acquired by Munich Re Group at a US$575 million enterprise value, the companies said on 19 August 2026. Closing is expected in the first quarter of 2027, subject to regulatory approvals, with oversight through Munich Re's HSB specialty unit.
The cyber insurtech employs about 280 people in the United States and Israel, the acquisition materials said. Gross written premium was cited at US$278 million as of 31 December 2025 in a press-release footnote. At-Bay's leadership said: "Joining Munich Re will accelerate At-Bay's mission to close the cybersecurity protection gap for the 90% of businesses being left behind."
Munich Re framed At-Bay as an InsurSec leader that combines cyber insurance with security services. Older directory marks that once put At-Bay near a US$1.3 billion valuation are historical and are not the price of this transaction.
If approvals clear, At-Bay becomes Munich Re's vehicle to deepen cyber product and services for mid-market companies that still struggle to buy meaningful cover.
Figures and customer claims in this piece are those stated by the company or acquirer in the cited materials.