German Insurer Munich Re Acquires Israeli Insurtech At Bay for $575 Million
German insurance company Munich Re has acquired the Israeli insurtech firm At Bay for $575 million. This acquisition price is significantly lower than At Bay's valuation during its 2021 funding round, when it was valued at $1.36 billion, according to PitchBook. The deal marks a notable transaction in the insurtech sector, reflecting changes in market valuations since At Bay's previous fundraising. The acquisition highlights ongoing interest from major global insurers in Israeli technology companies, despite fluctuations in company valuations over recent years.
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