Next Insurance gets scooped up by Munich Re for $2.6B

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Germany’s Munich Re has signed a definitive agreement to acquire digital insurance company Next Insurance for $2.6 billion, the firms announced on Thursday.

Founded in 2016, Palo Alto-based Next Insurance is focused on providing insurance to small-to-medium-sized businesses. It was last valued at $2.5 billion in late 2023 when it raised $265 million.

Next Insurance’s backers include Group 11, Allstate, Allianz X, Battery Ventures, Capital G, Redpoint Ventures, Nationwide, Amex Ventures, Ribbit Capital, and others. The company has raised…



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Next Insurance gets scooped up by Munich Re for $2.6B


Germany’s Munich Re has signed a definitive agreement to acquire digital insurance company Next Insurance for $2.6 billion, the firms announced on Thursday.

Founded in 2016, Palo Alto-based Next Insurance is focused on providing insurance to small-to-medium-sized businesses. It was last valued at $2.5 billion in late 2023 when it raised $265 million.

Next Insurance’s backers include Group 11, Allstate, Allianz X, Battery Ventures, Capital G, Redpoint Ventures, Nationwide, Amex Ventures, Ribbit Capital, and others. The company has raised…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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