Munich Re Taps Into U.S. Market With $2.6 Billion NEXT Insurance Acquisition

Dow Jones

03/21

By Michael Susin

Munich Re said it signed a definitive agreement to buy NEXT Insurance in a deal that values the business at $2.6 billion and will provide access to the U.S. market.

The German reinsurer on Thursday said the acquired business will become part of ERGO, the main insurance business of Munich Re, and is expected to contribute earnings in the mid-triple-digit million dollar range to Ergo's net result in the medium-term, with further significant earnings potential beyond.

NEXT Insurance is a U.S.-based property and casualty insurer focused on small business owners.

"We will tap into a highly attractive market overseas, unlocking significant growth opportunities while further diversifying our existing business portfolio," ERGO's Chief Executive Markus Riess said.

Munich Re also said the U.S. market is estimated at around $175 billion and offers significant growth potential.

The acquisition is forecast to be completed in the third quarter.

ERGO Group is currently a major shareholder of NEXT Insurance, holding nearly one third of the company's share capital.

Write to Michael Susin at michael.susin@wsj.com

(END) Dow Jones Newswires

March 20, 2025 12:47 ET (16:47 GMT)

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Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"MURGY","symbol_name":"Muenchener Rueckver Ges","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2521643964","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2521643964","pubTimestamp":1742489220,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"Munich Re said it signed a definitive agreement to buy NEXT Insurance in a deal that values the business at $2.6 billion and will provide access to the U.S. market.The German reinsurer on Thursday said the acquired business will become part of ERGO, the main insurance business of Munich Re, and is expected to contribute earnings in the mid-triple-digit million dollar range to Ergo's net result in the medium-term, with further significant earnings potential beyond.NEXT Insurance is a U.S.-based property and casualty insurer focused on small business owners.\"We will tap into a highly attractive market overseas, unlocking significant growth opportunities while further diversifying our existing business portfolio,\" ERGO's Chief Executive Markus Riess said.Munich Re also said the U.S. market is estimated at around $175 billion and offers significant growth potential.The acquisition is forecast to be completed in the third quarter.ERGO Group is currently a major shareholder of NEXT Insurance","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"MURGY":"Muenchener Rueckver Ges","BK4144":"石油与天然气的储存和运输","BK4019":"再保险","NEXT":"NextDecade Corporation"},"translate_title":"慕尼黑再保险以26亿美元收购NEXT Insurance进军美国市场","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"MURGY":0.9,"NEXT":1},"content_text":"By Michael Susin \n\n\n \n\n\n  Munich Re said it signed a definitive agreement to buy NEXT Insurance in a deal that values the business at $2.6 billion and will provide access to the U.S. market. \n\n\n  The German reinsurer on Thursday said the acquired business will become part of ERGO, the main insurance business of Munich Re, and is expected to contribute earnings in the mid-triple-digit million dollar range to Ergo's net result in the medium-term, with further significant earnings potential beyond. \n\n\n  NEXT Insurance is a U.S.-based property and casualty insurer focused on small business owners. \n\n\n  \"We will tap into a highly attractive market overseas, unlocking significant growth opportunities while further diversifying our existing business portfolio,\" ERGO's Chief Executive Markus Riess said. \n\n\n  Munich Re also said the U.S. market is estimated at around $175 billion and offers significant growth potential. \n\n\n  The acquisition is forecast to be completed in the third quarter. \n\n\n  ERGO Group is currently a major shareholder of NEXT Insurance, holding nearly one third of the company's share capital. \n\n\n \n\n\n  Write to Michael Susin at michael.susin@wsj.com \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  March 20, 2025 12:47 ET (16:47 GMT)\n\n\n  Copyright (c) 2025 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"corporation,merge","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}