German giant acquires Israeli company for $575 million
Munich Re will acquire Israeli cyber insurer At-Bay for $575M. Founded in 2016 with 280 employees, the company will join Munich Re subsidiary HSB.
German insurance company Munich Re has agreed to purchase Israeli cyber insurance firm At-Bay for $575 million. The deal, which is pending regulatory approvals, is set to close in the first quarter of 2027. At-Bay, established in 2016 by Rotem Iram and Roman Itskovich, offers a platform that combines insurance coverage with cybersecurity solutions, targeting small and medium-sized businesses (SMEs) in the US.
The company has secured approximately $300 million in funding from prominent venture capital firms and currently employs around 280 people in Israel and the US. Upon completion, At-Bay will become part of Munich Re's HSB subsidiary, which specializes in technological insurance solutions. The two founders of At-Bay will join Munich Re's management team.
Rotem Iram, At-Bay's founder and CEO, expressed optimism about the partnership, stating that it will help close the cyber protection gap for the remaining 90% of businesses. Together, Munich Re and At-Bay aim to provide global access to their solution for SMEs worldwide. Munich Re board member Michael Kerner emphasized that At-Bay's strategic position and unique capabilities make it an ideal addition to their insurance portfolio and a crucial component of the group's future cyber offerings.
Written by urgent.news from Jerusalem Post Tech & Start-Ups's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
