Coalition expands partnership with Mitsui Sumitomo Insurance with new long-term capacity agreement in Australia

Mitsui Sumitomo Insurance, a subsidiary of MS&AD, to assume a share of Coalition’s Australian Active Cyber Insurance Programme.

Above L-R: Adam Robertson, Head of Special Projects, International at Coalition, and Sam Weaver, General Manager, Australia at Coalition, with Mitsui Sumitomo Insurance Australia Branch General Manager, Tomoyuki Komagome, Head of Underwriting, Wooi Aun Leow, Head of Strategy Implementation, Kay Kurosawa, and Chief Operating Officer, Hajime Takeda.

Sydney - Coalition Insurance Solutions Pty Ltd (“Coalition”), the world's first Active Insurance provider designed to prevent digital risk before it strikes, today announced a multi-year capacity agreement with Mitsui Sumitomo Insurance Co., Ltd (“MSI”), a member of MS&AD Insurance Group. This partnership will deploy cyber insurance capacity in Australia beginning 1 January 2025, with MSI assuming a share of Coalition’s Australian Active Cyber Insurance Programme.

This agreement builds on the two companies’ existing strategic partnership, which includes a collaboration on cybersecurity solutions for small and medium-sized enterprises (SMEs) in Japan.

“Mitsui Sumitomo Insurance is a well-respected provider with an excellent reputation, and partnering with them enables us to expand our presence in the Asia-Pacific region and continue to provide outstanding coverage to our policyholders,” commented Sam Weaver, Coalition’s Australian General Manager. “We’re excited to add new capacity and partner with MSI as we embark on our next chapter of growth.”

“This collaboration underscores our commitment to supporting SMEs in Australia with comprehensive cyber insurance solutions. We’re thrilled to enter the Australian cyber insurance market with Coalition. By combining our extensive experience, network, and scale across the Asia-Pacific region with Coalition’s technology-driven approach, we aim to diversify and grow together while enhancing the resilience of businesses in an increasingly digital landscape,” said Tomoyuki Komagome, MSI Australia Branch’s General Manager.

Clemens Philippi, CEO of MSIG Asia, a wholly-owned subsidiary of MSI, added, “This partnership serves as a blueprint for our expansion from Australia to other markets in the region. By leveraging Coalition's innovative strategies alongside our expertise and unrivalled presence in Asia, we aim to set a new standard for cyber insurance across the region. Our collaborative model will not only enhance our offerings but also empower businesses throughout the region to effectively manage and mitigate digital risks."

Since Coalition launched in Australia in November 2023, the company has delivered its innovative Active Insurance model to more than 1,400 policyholders, helping Australian SMEs build increased cyber resilience. 

To learn more about Coalition’s Active Insurance offering in Australia, visit www.coalitioninc.com/au. To learn more about MSI in Australia, visit www.msi-oceania.com/ .

About Coalition
Coalition is the world's first Active Insurance provider designed to help prevent digital risk before it strikes. By combining comprehensive insurance coverage and cybersecurity tools, Coalition helps businesses manage and mitigate potential cyber attacks. Leveraging its relationships with leading global insurers and capacity providers, including Coalition Insurance Company, Coalition offers Active Insurance products to businesses in the United States, the United Kingdom, Canada, Australia, and Germany. Policyholders can receive automated cyber alerts and access expert advice and global third-party risk management tools through Coalition's holistic cyber risk management platform, Coalition Control^®.