Next Insurance founders Nissim Tapiro Guy Goldstein Alon Huri source PR
Munich Re, a global leader in insurance and reinsurance, is acquiring Next Insurance, a startup and a unicorn originally founded in Israel. The companies have finalized an agreement for the full acquisition, with Munich Re’s primary insurance subsidiary, ERGO, purchasing Next Insurance for $2.6 billion in cash. This strategic move strengthens Munich Re’s position in the digital insurance market while expanding its footprint in small business coverage.
Founded in 2016, Next Insurance says that it was created to give your business the coverage it deserves. Simple, affordable and tailored. “No no matter what you do, no matter how you define success, we’re right there, next to you. 100% dedicated to the self-employed, 100% how insurance should be.”
“Today marks a significant moment for NEXT Insurance, our customers, agents, and partners alike,” said Guy Goldstein, Chief Executive Officer of NEXT Insurance. “Over the past few years, we have transformed the U.S. small business insurance market by delivering a simple, seamless, tailored experience for business owners. This transaction will propel us forward, allowing us to scale our technology-driven approach and empower even more small business owners with innovative insurance solutions. With the strength and expertise of ERGO and Munich Re and their well-recognized re/insurance know-how, we are poised to lead the charge in reimagining small business insurance in the USA.”
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Through its proprietary technology stack and its digital underwriting/pricing platform, the company offers simple, digital insurance coverage, including General Liability and Workers’ Compensation. Since its creation, NEXT Insurance has witnessed significant growth and generated a top line of $548 million in 2024. Today, the company serves more than 600,000 customers and counts around 700 employees.
ERGO and Munich Re have been closely accompanying NEXT Insurance since 2017. As of today, ERGO Group AG is a major shareholder of NEXT Insurance, holding around 29 percent of the company’s outstanding share capital. As part of ERGO Group, NEXT Insurance is expected to contribute mid-triple-digit $ million earnings to the company’s net result in the medium-term, with further significant earnings potential beyond this.
