Managing general agent At-Bay said it has acquired an excess and surplus lines insurer licensed in 44 states from XL Insurance America to now become a full-stack carrier.

“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 CEO of San Francisco-based 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.”

Terms were not disclosed.

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

“While we’ve finalized the acquisition, there is no immediate change to our program,” Iram wrote in a post on the company’s website. “We still have some work to do to secure a strong rating, and we’ll facilitate a smooth transition for our partners and will share information about our future plans well in advance of any change.

The coverage and monitoring services provided by At-Bay “empowers its more than 28,000 insureds to proactively manage their digital risk. As a result, At-Bay customers experience 5x fewer ransomware attacks compared to the industry average.”

Simultaneously, At-Bay announced that Gregg Davis and Rob Glanville will join newly acquired At-Bay Specialty Insurance Company as independent directors. Davis was CFO of James River Group for 10 years ending in 2016. He is now on several boards, including STP Insurance Services. Glanville is a senior advisor at REG Consulting.

Related: Industry Veterans Carmilani, Lockton Join At-Bay Board

In August, At-Bay acquired Relay, a digital placement solution provider with a focus on cyber.

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.