ERGO Group successfully completed the full acquisition of NEXT Insurance by Munich Re Group. Consequently, NEXT Insurance is now embedded within the management structure of ERGO, the major primary insurance business of Munich Re.

According to the press release, through this transaction, ERGO enters the world’s largest insurance market, tapping the attractive U.S. small and medium-sized businesses (SMB) segment. NEXT Insurance will complement ERGO’s business capabilities through its proprietary technology stack and its fully digital, automated underwriting/pricing platform. In turn, ERGO will support NEXT Insurance’s business growth by leveraging its technical excellence and insurance know-how.

“Today’s transaction closing represents an important milestone in establishing ourselves as a relevant insurance provider in the USA. Together with NEXT Insurance, we will seize the considerable growth potential offered by this attractive market as we expand our existing business portfolio. Through the combination of NEXT Insurance’s technologically driven, successful market approach and ERGO’s insurance expertise, we will deliver profitable growth and added value for all our stakeholders”, commented Markus Rieß CEO ERGO Group.