Swiss Re extends strategic partnership with cyber MGA Coalition

Swiss Re Corporate Solutions, the commercial insurance arm of the Swiss Re Group, has extended its  partnership with cyber insurance managing general agent (MGA) Coalition.

Their new multi-year agreement will provide broad cyber insurance and technology errors & omissions insurance to small and midsize organisations throughout the US and Canada.

The strategic partnership will support Coalition's innovative approach to underwriting, continuous risk mitigation, and claims management as it expands into new products and markets.

Coalition is backed by global insurers Swiss Re Corporate Solutions, Arch Capital Group, Lloyd's of London, and Argo Group. Over the past two years, the MGA has grown to over $240 million of run-rate gross written premium (GWP) and serves more than 41,000 customers.

Sandy Codding, senior vice president at Swiss Re Corporate Solutions, said: "Coalition offers a novel approach to managing, mitigating, and transferring cyber risk, and it's working as evidenced by their tremendous growth over the past three years. We are committed to supporting Coalition's mission to solve cyber risk, and with this new agreement we've solidified our alliance for the long-term."

Shawn Ram, head of insurance at Coalition, commented: "We're pleased to deepen our collaboration with Swiss Re Corporate Solutions, and share their commitment to building creative solutions that make businesses more resilient.

"Cyber attacks and technology failures can be devastating to organisations large and small, and we've never been in a better position to provide our broker partners and policyholders with the stability and security necessary to protect themselves from cyber risk."

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