Munich Re's Ergo division has acquired a 71% stake in Next Insurance for $2.6 billion, significantly enhancing its position in the U.S. insurance market. Established in 2016, Next Insurance specializes in providing coverage for small to medium-sized businesses.
The company boasts approximately 700 employees and serves over 600,000 customers. While Next Insurance reached a valuation of $4 billion in 2021, it has since adjusted to a current valuation of $2.5 billion.
The acquisition is part of Munich Re's strategy to bolster its reinsurer capabilities and expand its digital footprint in the evolving insurance landscape.
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