Coalition completes acquisition of insurance carrier
Coalition has received regulatory approval and completed the acquisition of Digital Affect Insurance Company from Munich Re Digital Partners US Holding Corporation. Digital Affect Insurance Company is a property and casualty insurer licensed in all 50 states.
The acquisition will allow Coalition to offer insurance policies through its own admitted insurance carrier. Coalition currently offers cyber, technology errors & omissions, directors and & officers, and other executive risks policies through partnerships with Allianz, Arch Insurance North America, Ascot Group, Lloyd’s of London, Swiss Re Corporate Solutions, Vantage, and Zurich among others.
“This strategic move empowers Coalition to expand the reach of our market leading active cyber insurance offering together with other admitted insurance products. The acquisition is a natural next step in our evolution and will allow us to better serve our broker partners and customers, while continuing to push the boundaries of innovation in cyber insurance, executive risks insurance, and beyond.” – Shawn Ram, head of insurance for Coalition.