Munich Re has agreed to purchase Next Insurance, a digital insurance provider focused on small-to-medium-sized businesses, for $2.6 billion. Founded in 2016 and based in Palo Alto, Next Insurance has weathered valuation fluctuations, dropping from $4 billion in 2021 to $2.5 billion in late 2023. With over 600,000 customers and a reported revenue of $548 million in 2024, the acquisition will integrate Next Insurance into Munich Re's Ergo unit, pending regulatory approval, and is expected to finalize by Q3 2025. Investors like Group 11 have supported Next since its inception.
Germany's Munich Re has finalized its agreement to buy Next Insurance for $2.6 billion, highlighting its commitment to digital insurance for small businesses.
Despite its valuation decline from $4 billion in 2021, Next Insurance reported a revenue of $548 million in 2024, emphasizing its strong market presence.
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