Munich Re, the German insurance group, said on Wednesday it would acquire At-Bay, a U.S.-based cyber insurance provider, for $575 million in cash. The deal is scheduled to close in the first quarter of 2027, subject to customary regulatory approvals.
At-Bay specializes in cyber liability coverage for small and mid-sized businesses, offering policies that include breach response services. The acquisition aligns with Munich Re’s strategy to expand its digital risk protection offerings amid rising cyber threats and growing demand for specialized coverage.
Munich Re did not disclose financial terms beyond the enterprise value. The transaction follows a series of cyber insurance deals in the sector as insurers seek to bolster their capabilities in response to increasing cyberattacks and regulatory scrutiny.
The German group, one of the world’s largest reinsurers, has been actively pursuing growth in North America, where At-Bay operates. The deal underscores the broader trend of traditional insurers entering or expanding in the cyber insurance market, which has seen premiums surge in recent years.
