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4 clusters · 12 sources · 8 days · First seen · Last updated

Munich Re acquisitions, shareholding and buyback updates

Overview

Munich Re is undergoing several corporate developments involving strategic acquisitions, shareholding shifts, and capital management. The company has entered a definitive agreement to acquire the US-based cyber insurtech At-Bay for an enterprise value of $575 million. This acquisition, intended to be integrated through Munich Re’s subsidiary HSB, is expected to close in the first quarter of 2027 to strengthen the reinsurer’s position in the cyber insurance market for small and medium-sized enterprises.

At-Bay provides integrated cyber insurance and proactive cybersecurity services. In 2025, the company reported approximately $278 million in gross premiums. The acquisition price is notably lower than At-Bay’s $1.35 billion valuation recorded during its 2021 Series D funding round. Following the announcement, AM Best placed At-Bay’s subsidiary, ABSIC, under observation with positive implications.

Simultaneously, there have been notable changes in Munich Re’s ownership structure. The French asset manager Amundi increased its stake in the company to 3.01 percent, crossing the 3 percent reporting threshold in mid-August. Additionally, board member Michael Kerner engaged in insider transactions by purchasing shares worth approximately $298,500.

In late August 2026, Munich Re announced a new share buyback tranche of up to approximately 1.45 billion euros. Scheduled to occur between August 28, 2026, and January 29, 2027, the program aims to return excess capital to shareholders following a record-breaking first half of 2026, where profits exceeded the results from the same period in 2025.

Entities

Munich Re · At-Bay · Amundi · HSB · Michael Kerner

Timeline

  1. 16 days ago

    [BUSINESS] 2 sources
    Munich Re announces 1.45 billion euro share buyback program

    Munich Re is launching a new 1.45 billion euro share buyback program following record profits in the first half of 2026, while also expanding its focus on proactive risk prevention and resilience.

  2. 19 days ago

    [BUSINESS] 2 sources
    Munich Re: Amundi increases stake to 3.01 percent

    Amundi has increased its stake in Munich Re to 3.01 percent, coinciding with an insider share purchase by board member Michael Kerner and the company's acquisition of US cyber insurer At-Bay.

  3. 19 days ago

    [BUSINESS] 4 sources
    Munich Re to acquire cyber insurtech At-Bay for $575 million

    Munich Re is acquiring US cyber insurtech At-Bay for $575 million, integrating the firm into its HSB subsidiary to bolster its specialty cyber insurance and risk management capabilities.

  4. 24 days ago

    [BUSINESS] 7 sources
    Munich Re to acquire cyber insurtech At-Bay for $575 million

    Munich Re will acquire US cyber insurtech At-Bay for $575 million to bolster its SME cyber insurance presence, with integration via HSB expected by Q1 2027.

Sources

ad-hoc-news.de · atthehuddle.com · drweb.de · gu.com.pl · insurtechny.com · it-boltwise.de · kapitalmarktexperten.de · reinsurancene.ws · riskandinsurance.com · riskenbusiness.nl · wmd-brokerchannel.de · worldfinanceinforms.com

This summary has been updated 3 times: see revision history