AM Best Assigns Financial Strength Rating of A- (Excellent) to At-Bay Carrier

Ari Fischel joins At-Bay as Chief Financial Officer and as At-Bay Specialty Insurance Company board member

SAN FRANCISCO--(BUSINESS WIRE)--
At-Bay, the insurance provider for the digital age, announced today that AM Best has assigned At-Bay Specialty Insurance Company a Financial Strength Rating of A- (Excellent), with a “stable” outlook. At-Bay Specialty Insurance Company is a Delaware-domiciled excess and surplus (E&S) lines property and casualty (P&C) carrier, acquired by At-Bay in January 2023.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230419005634/en/

Ari Fischel, appointed CFO at At-Bay. (Photo: Business Wire)

“At-Bay is on a mission to accelerate the growth and innovation needed to build the next generation of insurance for the digital age,” said Rotem Iram, CEO and co-founder of At-Bay, and Chairman of the board for At-Bay Specialty Insurance Company. “The A- rating from AM Best is the latest milestone on our journey toward making that goal a reality,” he added.

As an E&S carrier, At-Bay aims to better serve its policyholders and valued brokers by expanding into additional specialty lines and offering innovative solutions to address new and emerging risks among today’s small-to-mid-sized businesses. The company expects to start writing policies on its own paper later this year.

Ari Fischel Joins At-Bay as CFO

In addition to this financial milestone, At-Bay also announced today that Ari Fischel has joined the company as its Chief Financial Officer. Fischel brings more than 20 years of financial and operational experience to At-Bay's executive team, most recently as CFO of Capital-Rx, one of the fastest growing health tech companies in North America. Before Capital-Rx, Fischel served as Vice President, Finance and Accounting for Oscar, a leading insurtech, where he helped to lay the groundwork for the company's initial public offering over his five-year tenure there. Prior to Oscar, Fischel served in senior finance and leadership roles for The Nielsen Company and General Electric. Fischel will also join the board of At-Bay Specialty Insurance Company.

“I’m thrilled to join At-Bay during this time of exciting innovation and growth and look forward to contributing to At-Bay's next phase of success and category disruption,” said Fischel. “The company has consistently demonstrated that it can deliver high-quality insurance and security solutions to the small business and broker community and achieve strong customer and revenue growth for its investors and reinsurance partners, all the while maintaining record low portfolio losses.”

At-Bay is the insurance company for the digital age, who today provides security prevention and insurance protection solutions to close to 30,000 businesses in the US. Surpassing $380 million in annual recurring gross written premium (ARGWP) in 2022, At-Bay offers insurance policies for Cyber (E&S and Admitted), Technology Errors & Omissions (Tech E&O), and Miscellaneous Professional Liability (MPL).

About At-Bay

At-Bay is the insurance provider for the digital age. By combining world-class technology with industry-leading insurance expertise, At-Bay was designed from the ground up to empower businesses to thrive in the digital world. At-Bay is backed by Acrew Capital, Glilot Capital, the HSB fund of Munich Re Ventures, Icon Ventures, ION Crossover Partners, Khosla Ventures, Lightspeed Venture Partners, M12, entrepreneur Shlomo Kramer, and Qumra Capital. www.at-bay.com

src="https://cts.businesswire.com/ct/CT?id=bwnewssty=20230419005634r1sid=acqr8distro=nxlang=en" style="width:0;height:0" />

View source version on businesswire.com: https://www.businesswire.com/news/home/20230419005634/en/

Jackie Gray, Corporate Communications

At-Bay

[email protected]

Source: At-Bay