Munich Re provided the series C funding at a valuation exceeding $1bn to take its stake in the workplace insurance provider to approximately 27.5%.

Reinsurance provider Munich Re supplied $250m in series C funding for US-based online insurance platform Next Insurance yesterday at a valuation of more than $1bn. The investment increased Munich Re’s stake to approximately 27.5%, though the transaction remains subject to regulatory approval. Founded in 2016, Next operates an online insurance service that focuses on policies…

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