Coalition, a provider of Active Insurance focused on preventing digital risks before they occur, has announced a $30 million equity investment from Mitsui Sumitomo Insurance Co., Ltd. (MSI), a key member of the MS&AD Insurance Group, the largest non-life insurer in Japan and the broader Asia-Pacific region.
This strategic partnership is designed to expand the reach of Coalition’s innovative Active Insurance solutions to more businesses globally.
The investment also provides MSI with an opportunity to engage in additional markets and establish itself as a shareholder in Coalition, further strengthening the alliance.
“Coalition has true differentiation as a trusted partner to its policyholders, security customers, and the insurance ecosystem,” added Tomoyuki Motoyama, Chief Digitalisation Officer at MS&AD.
“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.”
“MS&AD is one the most respected and established insurers in the world, and we are thrilled to expand our partnership with them,” commented Joshua Motta, cofounder and CEO at Coalition.
“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.”
The funding agreement enhances the ongoing strategic partnership between the two companies, which already includes a multi-year capacity agreement in Australia.
Additionally, the collaboration focuses on providing cybersecurity solutions for small and midsize businesses (SMBs) in Japan through Coalition’s cyber risk management platform, Coalition Control.
