Cyber insurance company Coalition has snapped up commercial insurance-focused broker platform Attune for an undisclosed fee.
Coalition is a provider of cyber insurance and security and offers cybersecurity tools to help prevent losses, security and incident response services to contain them, alongside insurance to help organisations recover from failures and breaches.
Attune is a carrier-founded managing general agent with a broker platform focused on commercial insurance. The company was co-launched by AIG, Hamilton Insurance and Two Sigma in 2016 and has 150 employees.
According to Coalition, it is creating what is the world’s largest commercial InsurTech provider through the acquisition, with over 130,000 policyholders in play. The company claims its goal is to target a property and casualty insurance market which it states surpasses $100bn.
Coalition recently secured $205m from a Series E funding round co-led by Durable Capital, T.Rowe Price Associates and Whale Rock Capital. The company claimed it intends to use the newly raised capital to accelerate its scale, expand into new insurance lines and help organisations continue to remain secure.
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