Coalition acquires admitted insurer

Coalition Inc., a managing general agent specializing in cyber risk, said Monday it has completed its acquisition of Digital Affect Insurance Co. from Munich Re Digital Partners U.S. Holding Corp.

Terms of the transaction were not disclosed.

The acquisition will allow Coalition to offer insurance policies through its own admitted insurer. The insurtech currently offers cyber, technology errors and omissions, directors and officers, and other executive risks policies via partnerships with various insurers.

Digital Affect is a licensed insurer in all 50 states.

The deal will enable Coalition to expand the reach of its cyber coverage with other admitted insurance products, said Shawn Ram, head of insurance for Coalition.