Munich Re acquires At-Bay in USD575m cyber insurance deal
Munich Re has agreed to acquire At-Bay, an Israeli-founded cyber insurance company, at an enterprise value of USD 575 million.
At-Bay provides cyber insurance and proactive cybersecurity solutions for small and medium-sized businesses, combining insurance coverage with technology designed to help companies assess, manage, and reduce cyber risk. The company employs approximately 280 people across the US and Israel.
The acquisition expands Munich Re’s position in the cyber insurance market and follows its acquisition of Israeli-founded Next Insurance in 2025. For At-Bay, the transaction provides the backing of one of the world’s largest reinsurance groups as demand for cyber risk management continues to grow.
Cooley and Meitar represented At-Bay in the transaction, with the Meitar team led by Itay Frishman, Eyal Ben Shlush, Pengyuan Hu, Yael Rimini, and Hila Silverstein.
Sullivan & Cromwell acted as legal advisor to Munich Re.
