TechCTech2h ago
German insurance giant Munich Re agrees
German insurance giant Munich Re agrees to acquire cyber insurance provider At-Bay for $575M; At-Bay has raised $276M and was last valued at $1.35B in 2021
TL;DRMunich Re buys cyber insurer At-Bay for $575M, down sharply from $1.35B valuation.
Why it matters: Shows insurtech valuations collapsing and traditional players consolidating cyber coverage amid rising breach risks.
The German insurance giant is buying the cyber insurtech at less than half its 2021 valuation, as insurers increasingly seek …
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