- Germany-based Allianz SE ( OTCPK:ALIZF ) has teamed up with Coalition, a cyber insurance and security provider, to provide multi-year capacity for its cyber insurance programs in the U.S. and U.K.
- Allianz ( OTCPK:ALIZF ) was said to assume a share of all Coalition U.S. non-admitted cyber programs, as well as lead its U.K. cyber program when it launches later in 2022.
- "Coalition’s Active Insurance offers demonstrably better protection from cyber threats and with Allianz’s support we will be able to provide Active Cyber Insurance to more organizations worldwide,” Shawn Ram, head of Insurance for Coalition, said Thursday.
- With its gross written premium reaching almost $740M in March, Coalition has scaled to serve more than 160K customers.
- Allianz faced $430M profit hit after deal to sell majority stake in its Russian operations .
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Coalition partners with Germany's Allianz to provide capacity for cyber insurance programs