Investment Strengthens Global Cyber Insurance Reach
Coalition, a cyber insurance provider, announced a $30 million equity investment from Mitsui Sumitomo Insurance Co., Ltd. (MSI), a part of MS&AD Insurance Group. This investment expands their strategic partnership. It aims to increase the global availability of Coalition’s Active Insurance model for companies seeking to reduce digital risk.
The deal allows MSI, Japan’s largest non-life insurer, to expand its market participation while becoming a Coalition shareholder. The companies will collaborate to improve cyber risk management solutions for businesses worldwide.
Strategic Growth and Cybersecurity Collaboration
Coalition and MSI have an existing multi-year partnership in Australia. They also work together on cybersecurity solutions for small and midsize businesses in Japan via Coalition’s risk management platform, Coalition Control.
Joshua Motta, Coalition’s CEO, emphasized that MS&AD’s investment strengthens their ability to grow and provide cyber risk prevention.
“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,” said Motta in a press release.
Tomoyuki Motoyama, MS&AD’s Chief Digitalization Officer, highlighted both companies’ focus on innovation in cyber insurance stating, “Both of our companies value and prioritize 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.”
Expanding Cyber Risk Prevention Globally
Coalition is a cyber insurance provider in the U.S., U.K., Canada, Australia, and Germany.
Other News: Coalition Touts New AI Tools for Cyber Insurance (Opens in a new browser tab)
