Munich Re News
8 articles
Stocks to watch next week: BP, Diageo, Disney, Uber and WPP
BP is set to release its second-quarter results amid declining oil and gas prices, with analysts expecting earnings of $1.35 per share and $60 billion in revenue. The company is under pressure due to weak cash flow, rising net debt, and challenges in its transition to cleaner energy sources. Activist investor Elliott has raised concerns over BPs performance, particularly its lagging shareholder returns. Analysts predict a pre-tax profit of $4.6 billion, up from $4.2 billion in Q1, but still below past levels. BPs cash flow and net debt, forecasted to be $24.9 billion by Q1 2025, remain key issues.
After surviving a life-threatening event, the Next Insurance co-founder discusses the acquisition by Munich Re and his next moves.
Next Insurance, co-founded by Alon Huri, was acquired by Munich Re for $2.6 billion, marking a significant milestone in the Israeli fintech ecosystem. The acquisition is the largest insurtech exit globally among venture-backed companies and highlights the potential of the Israeli fintech industry. Next Insurance focuses on providing digital insurance products to small and medium-sized businesses in the U.S., serving over 600,000 customers. The acquisition is seen as a strategic move by Munich Re to expand its presence in the U.S. market. Despite the acquisition, Huri remains optimistic about the future of Israeli fintech and continues to support new ventures through his role at Team8.
Acquired-by
Munich Re, an early investor in Next Insurance, is buying the 71% of the company, which serves small businesses in the US, that it does not already own.
Munich Re’s acquisition of Next Insurance marks a major milestone for the insurtech company, with employees set to benefit alongside investors and founders.
Munich Re acquiring Next Insurance at $2.6 billion valuation | CTech
World's largest reinsurer to insure Israeli startup's algorithm | CTech
Cyber Insurance Startup At-Bay Raises $34 Million
Munich Re invests $250m in Israel's Next Insurance
