Latham & Watkins Advises NEXT Insurance in US$2.6 Billion Acquisition by Munich Re

Munich Re and NEXT Insurance announced they have signed a definitive agreement regarding the full acquisition of NEXT Insurance by Munich Re on March 19, 2025. The envisaged transaction will have NEXT Insurance become part of ERGO Group, the major primary insurance company of Munich Re. The definitive agreement was concluded at a valuation of US$2.6 billion, for 100% of NEXT Insurance’s shares. The closing of the transaction is subject to customary conditions, including the required regulatory approvals, and is expected in the third quarter of 2025.

Latham & Watkins LLP represents NEXT Insurance in the transaction with a corporate deal team led by Bay Area partners Tad Freese and Mark Bekheit, with associates Shannon Cheng, Amy Lutfi, David Stepovich, and Tim Schubert. Advice was also provided on executive compensation and benefits matters by Bay Area partner Ashley Wagner, with associate Will Fowler; on insurance matters by New York partners Gary Boss, Analisa Dillingham, and Kirsten Gaeta and New York counsel Alexander Traum; on tax matters by Bay Area partner Grace Lee, with associates Gregory Conyers and Rasha Suleiman; on intellectual property matters by Bay Area partner Anthony Klein, with associates Amy Tosi, Julian Savelski, and Karen Sung; on data privacy matters by Bay Area partner Robert Blamires, with associate Kathryn Parsons-Reponte; on antitrust matters by Bay Area partner Joshua Holian, with associate Hanna Nunez Tse; on ex-US antitrust matters by Brussels partner Tomas Nilsson; on foreign direct investment matters by Hamburg partner Jana Dammann de Chapto; on Hart-Scott-Rodino Act matters by Washington, D.C. partner Peter Todaro; on trade control matters by Washington, D.C. partner Andrew Galdes, with associate Amulya Vadapalli; on CFIUS matters by Washington, D.C. counsel Ruchi Gill; on RWI matters by Los Angeles partner Harrison White; on finance matters by New York/Los Angeles partner Nathan Whitaker; and on anti-money laundering and anti-corruption matters by Washington, D.C. partner Erin Brown Jones.