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Germany Munich Re has signed a final agreement to acquire a digital insurance company Next insurance For $ 2.6 billion, companies announcement THURSDAY.
Founded in 2016, the next insurance based in Palo Alto is focused on the supply of insurance to small businesses. It was lastly evaluated at 2.5 billion dollars at the end of 2023 when it increased 265 million dollars.
The donors of Next Insurance include group 11, Allstate, Allianz X, Battery Ventures, Capital G, Redpoint Ventures, Nationwide, Amex Ventures, Ribbit Capital and others. The company has raised nearly $ 1.2 billion in its life, According to Crunchbase.
Like many fintechs, Next Insurance’s assessment has taken a safe hit in recent years. The startup was evaluated at $ 4 billion In 2021. However, the following indicates that it generated “a first line line of $ 548 million” in 2024, has more than 600,000 customers and employs around 700 people.
With the acquisition, the next insurance will be part of the ERGO unit in Mongich Re. The agreement should conclude in the third quarter of 2025, subject to regulatory approvals and customary conditions.
Investors Group 11 have confirmed the acquisition of Techcrunch, noting that he has been an investor in Insurech since 2017, investing in follow -up towers in 2018, 2019 and 2020.
Munich re bought the 71% of the next insurance actions that she does not already have, according to Globes.
