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Munich Re to acquire cyber insurer At-Bay for $575M, less than half its 2021 valuation
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German insurance giant Munich Re has agreed to acquire cyber insurance provider At-Bay for $575M, a significant discount from the company's $1.35B valuation in 2021.
The acquisition price represents a steep markdown from At-Bay's peak valuation, reflecting how cyber insurance valuations have compressed since 2021. For engineering teams that rely on cyber insurance as part of their risk posture, consolidation into a traditional reinsurer like Munich Re signals that cyber coverage is becoming integrated into mainstream insurance rather than remaining a standalone insurtech category.
Written by elseif from the cluster below · every claim links back to a sourceThe three things worth knowing
Munich Re agreed to acquire At-Bay for $575M, compared to At-Bay's last valuation of $1.35B in 2021.
At-Bay had raised $276M in total funding prior to the acquisition.
The deal reflects a broader trend of traditional insurers acquiring cyber insurance providers at discounted valuations.
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