Next Insurance gets scooped up by Munich Re for $2.6B [TechCrunch]
MUENCHENER RE GP UNSP/ADR (MURGY)
NASDAQ:AMEX Investor Relations:
ir.kiterealty.com
Company Research
Source: TechCrunch
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 nearly $1.2 billion in its lifetime, according to Crunchbase Like many fintechs, Next Insurance's valuation has taken a hit in recent years. The startup was valued at $4 billion in 2021. However, Next says it generated “a top line of $548 million” in 2024, has more than 600,000 customers, and employs roughly 700 people. With the acquisition, Next Insurance will become pa
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- Münchener Rückversicherungs-Gesellschaft Aktiengesellschaft in München (OTCMKTS: MURGY) was downgraded by analysts at The Goldman Sachs Group, Inc. from a "strong-buy" rating to a "hold" rating.MarketBeat
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