Transaction · Insurtech · 2026

Munich Re acquires At-Bay

Munich Re acquired At-Bay for $575M on August 19, 2026.

Target
At-Bay
Acquirer
Munich Re
Deal value
$575M
Announced
August 19, 2026
Sub-sector
Insurtech

Transaction overview

  • Munich Re announced the acquisition of At-Bay on August 19, 2026 for $575M.

Strategic rationale

Munich Re acquires insurtech At-Bay for $575M, signaling consolidation in cyber insurance.

Deal terms & multiples

Deal value
$575M
Target revenue
Not disclosed
Target EBITDA
Not disclosed
EV / Revenue
Not disclosed
EV / EBITDA
Not disclosed
Announcement
August 19, 2026
Acquirer
Munich Re (Strategic)
Sub-sector
Insurtech

Sources