Munich RE, Germany, signs a confirmation to acquire digital insurance companies Next Insurance The company has $2.6 billion Announce Thursday.
The next insurance concentration in Palo Alto, located in 2016, was established in 2016, focusing on providing insurance for small and medium-sized businesses. It was last estimated at $2.5 billion raised in the second half of 2023 $265 million.
Next Insurance supporters include Group 11, Allstate, Allianz X, Battery Ventures, Capital G, Redpoint Ventures, National, Amex Ventures, Ribbit Capital, and more. The company raised nearly $1.2 billion in its lifetime. According to Crunchbase.
Like many fintechs, the valuation of the next insurance has been hit in recent years. The startup values $4 billion However, in 2021. Next, it generated “highest line of $548 million” in 2024, has more than 600,000 customers and employs about 700 employees.
Through the acquisition, the next insurance will become part of the RE Ergo unit in Munich. The transaction is expected to be completed in the third quarter of 2025, but it requires regulatory approval and customary conditions.
Investor Group 11 confirmed the acquisition of TechCrunch, noting that it has been an Insurtech investor since 2017 and has followed up rounds in 2018, 2019 and 2020.
according to Earth.
