Munich Re to acquire Next Insurance

Munich Re is acquiring Next Insurance, a U.S.-based insurtech focused on covering small business risks.

This acquisition will make ERGO, the German reinsurer's direct insurance subsidiary, the sole shareholder of NEXT Insurance.

The transaction is valued at 2.6 billion USD. Pending regulatory approval, the deal is likely to be finalized during the third quarter of 2025.

Munich Re and ERGO have been shareholders of NEXT Insurance since 2017. Other investors in the insurtech included Allianz, Alphabet and American Express.