Coalition will be able to offer insurance policies through its own admitted insurance carrier as a result of the acquisition. Coalition currently offers cyber, technology errors and omissions, directors and officers, and other executive risks policies in collaboration with Allianz, Arch Insurance North America, Ascot Group, Lloyd's of London, Swiss Re Corporate Solutions, Vantage, and Zurich, among others.
"This strategic move enables Coalition to broaden the reach of our market-leading active cyber insurance offering, as well as other admitted insurance products," said Shawn Ram, Coalition's Head of Insurance. "The acquisition is a natural next step in our evolution, allowing us to better serve our broker partners and customers while pushing the boundaries of innovation in cyber insurance, executive risks insurance, and beyond."
This acquisition follows a series of significant company milestones in 2022. Coalition recently announced a $250 million investment in July 2022, raising the company's valuation to $5 billion, and appointed its first ever chief financial officer and general counsel earlier this month, ahead of a planned expansion into the United Kingdom.
Active Insurance from Coalition combines industry-leading cybersecurity tools, 24/7 access to digital forensics and incident response, and comprehensive insurance coverage to assist organizations in identifying, mitigating, and insuring digital risk. Coalition's technological advantage has enabled the company to build a sustainable, high-performing book of business in a highly volatile cyber market, while also assisting Coalition customers in identifying and managing digital risk before it occurs. Coalition now provides Active Cyber Insurance, Active Executive Risks Insurance, P&C insurance, and cybersecurity capabilities to over 160,000 customers.
Coalition Inc. can be found at coalitioninc.com.
About Coalition
Coalition is the leading provider of cyber insurance and security, combining comprehensive insurance and proactive cybersecurity tools to help businesses manage and mitigate cyber risk. Through its partnership with leading global insurers Arch Insurance North America, Allianz, Ascot Group, Lloyd's of London, Swiss Re Corporate Solutions and Vantage, Coalition offers its Active Insurance products in the US and Canada and its security products to organizations globally. Coalition's Active Risk Platform provides automated security alerts, threat intelligence, expert guidance, and cybersecurity tools to help businesses remain resilient in the face of cyber attacks. Headquartered in San Francisco, Coalition is a distributed company with a global workforce that collaborates both digitally and in office hubs across the globe.