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San Francisco, US-based cyber insurance company Coalition has received a $30m (Y4.47bn) equity investment from Mitsui Sumitomo Insurance (MSI), part of the MS&AD Insurance Group.
This latest investment strengthens the existing ties between the companies, which include a multi-year capacity agreement in Australia and an alliance on cybersecurity solutions for small and medium-sized businesses (SMBs) in Japan.
As a shareholder in Coalition, Japanese insurer MSI can now operate in more markets.
Coalition will use the capital to offer Active Insurance to additional businesses globally.
MS&AD chief digitalisation officer Tomoyuki Motoyama said: “Coalition has true differentiation as a trusted partner to its policyholders, security customers and the insurance ecosystem. Both of our companies value and prioritise innovation as the foundation of the cyber insurance market, and we are thrilled to continue deepening our relationship as a long-term Coalition equity holder.”
Coalition cofounder and CEO Joshua Motta stated: “MS&AD is one the most respected and established insurers in the world, and we are thrilled to expand our partnership with them. With their support, we are uniquely positioned to scale our Active Insurance model and solidify our position as the global leader in cyber insurance.
“Together, we will deliver our unparalleled approach to risk prevention and mitigation to businesses of all sizes and industries worldwide, ensuring they have the protection they need in an increasingly digital world.”
In September 2024, Coalition established a reinsurance intermediary, Coalition Re, to provide non-proportional cyber reinsurance treaties and a white-labelled cyber insurance offering to support cedants by providing up to 100% quota share.
The company's Active Insurance products are currently available to businesses in the US, the UK, Canada, Australia and Germany.
These offerings are complemented by its cyber risk management platform, which provides policyholders with global third-party risk management tools along with automated cyber alerts.
"Cyber insurer Coalition gets $30m equity investment from Mitsui " was originally created and published by Life Insurance International, a GlobalData owned brand.
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