German insurance giant Munich Re is acquiring Israeli cyber insurtech company At-Bay for $575 million — a lower valuation than At-Bay’s last funding round in 2021 ($1.36 billion). At-Bay operates a small development center in Israel, while most of its business (cyber and privacy insurance) runs through the US.
This is Munich Re’s second acquisition in Israel, following Next Insurance last year, which sold for $2.6 billion.
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