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AM Best puts At-Bay Specialty Insurance on review after Munich Re deal

AM Best said the ratings review will continue through deal completion, including evaluation of parental support, integration plans, and the expected impact on At-Bay Specialty Insurance’s business outlook.

Reported · Written up by our desk · Reinsurance

AM Best has placed At-Bay Specialty Insurance Company, ABSIC, under review with positive implications following Munich Re’s announced plan to acquire At-Bay, Inc. The deal values At-Bay at USD 575 million, and AM Best linked its review to the transaction’s expected impact on ABSIC’s prospects.

At-Bay is a US-based InsurSec provider offering cyber insurance and risk management services. Before the acquisition, ABSIC held a Financial Strength Rating of A- (Excellent) and a Long-Term Issuer Credit Rating of “a-” (Excellent).

The transaction is expected to close in the first quarter of 2027, subject to customary conditions, including required regulatory approvals. After the deal closes, At-Bay is set to be overseen by Hartford Steam Boiler, part of Munich Re’s Global Specialty Insurance business.

AM Best said the ratings will remain under review pending completion of the acquisition and the agency’s assessment of parental support, integration plans, and the expected effect on ABSIC’s future business plans.

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