Coalition and Mitsui Sumitomo Insurance Strengthen Strategic Alliance
Coalition, a leading innovator in Active Insurance that focuses on proactively mitigating digital risks, has announced a substantial equity investment of $30 million from Mitsui Sumitomo Insurance Co., Ltd. (MSI). MSI is a prominent entity within the MS&AD Insurance Group, the largest non-life insurance provider in Japan and the Asia-Pacific region.
This strategic partnership aims to broaden the global reach of Coalition’s cutting-edge Active Insurance solutions, enabling more businesses worldwide to benefit from their innovative risk management services. Additionally, this investment allows MSI to explore new markets and strengthens its position by becoming a shareholder in Coalition.
Tomoyuki Motoyama, Chief Digitalisation Officer at MS&AD, remarked, “Coalition stands out as a trusted ally to its policyholders, security clients, and the broader insurance ecosystem. Our companies share a commitment to innovation, which is foundational to the cyber insurance sector. We are excited to further solidify our long-term relationship as a Coalition equity holder.“
Joshua Motta, co-founder and CEO of Coalition, expressed his enthusiasm, stating, “MS&AD is one of the most esteemed and well-established insurers globally, and we are excited to deepen our collaboration with them. With their backing, we are uniquely positioned to scale our Active Insurance model, reinforcing our status as a global leader in cyber insurance. Together, we will deliver our unmatched risk prevention and mitigation approach to businesses across various industries worldwide, ensuring comprehensive protection in our increasingly digital era.”
The funding agreement enhances the existing strategic collaboration between the two firms, which already includes a multi-year capacity agreement in Australia. Additionally, the partnership focuses on delivering cybersecurity solutions tailored for small and midsize businesses (SMBs) in Japan through Coalition’s cyber risk management platform, Coalition Control.
