Set up in 1980, SRB primarily serves corporate clients in the industrial sector.
The insurer’s income from operations surged by 54% to $432m (£324.08m) in Q1 2025 from $280m in the prior year.
This represents the company's first step beyond stand-alone cyber insurance in the UK market.
The investment was made alongside existing shareholder BHMS Investments.
By integrating Nearmap's Betterview platform, Germania Insurance gains visibility into roof conditions and property risks.
Philipp Rüede, who will also join the executive committee, succeeds Frieder Knüpling, who stepped down in July 2024.
The round was led by Two Sigma Ventures, with participation from Zigg Capital and Clocktower Technology Ventures, among others.
JMG Group CEO Nick Houghton emphasised the acquisitions as “balancing entrepreneurial autonomy with Group-wide support”.
