At-Bay acquires property/casualty insurer

Insurtech managing general agency At-Bay Inc. said Tuesday it has acquired a licensed property/casualty insurer, thus becoming a “full-stack” insurer.

The San Francisco-based company said it has completed its acquisition of a Delaware-domiciled excess and surplus lines property/casualty shell insurer that is licensed in 44 states, from XL Insurance America Inc.

At-Bay renamed the insurer At-Bay Specialty Insurance Company at the time of the acquisition, according to a spokeswoman.

Terms of the deal were not disclosed.

At-Bay said it now offers cyber, technology errors and omissions, and miscellaneous professional liability insurance through wholesale brokers and digital channels, and plans to start issuing policies via its insurer later this year.