At-Bay becomes full-stack insurance carrier

At-Bay’s leadership team, with chief executive Rotem Iram third from left

San Francisco-based At-Bay has become a full-stack insurance carrier with the acquisition of At-Bay Specialty Insurance Company (At-Bay SIC) from XL Insurance America, Inc. 

At-Bay SIC is a Delaware-domiciled excess and surplus (E&S) lines property and casualty (P&C) insurer licensed in 44 states.

Industry veterans Gregg Davis and Rob Glanville will join the newly-acquired company as independent directors.

At-Bay said the move to a full-stack carrier will allow the company to better serve its policyholders and accelerate planned product expansion into additional specialty lines, as well as give At-Bay more control over the entire insurance value chain, while strengthening its commitment to the wholesale channel.

“This milestone will allow us to accelerate the pace of our innovation and better serve our broker partners and customers,” said Rotem Iram, co-founder and chief executive of At-Bay. “Becoming an insurance carrier further cements our commitment to build the next generation of insurance, and tackle the critical challenge of cyber and digital risk.”

At-Bay currently offers cyber, technology errors & omissions, and miscellaneous professional liability insurance through wholesale brokers and digital channels, and the company intends to start issuing policies via its carrier later this year. 

At-Bay recently surpassed $380m in annual recurring gross written premium.

CyberInsurer.com hopes to soon update this story following an interview with chief executive Rotem Iram.