Coalition will serve the German market from here. The settlement was coordinated by FrankfurtRheinMain GmbH International Marketing of the Region (FRM GmbH) in close coordination with the Frankfurt Economic Development Agency.
Mike Josef, Mayor of the City of Frankfurt am Main and Chairman of the Supervisory Board of FRM GmbH: “The settlement of Coalition is proof that Frankfurt am Main is also internationally recognized as a location for insurance companies. Our city offers an excellent infrastructure by international standards, and there is also a high concentration of companies in the insurance industry. EIOPA as the EU supervisory authority for the insurance business, the Frankfurt International Arbitration Center FIAC as well as more than 350 insurance companies and 20,000 employees in this field shape Frankfurt am Main as an insurance location and make it internationally attractive."
Coalition Inc., a provider of cyber insurance and security tools for companies, was founded in 2017 with the aim of helping companies identify, minimize and respond to digital risks. The headquarters are in San Francisco, California and in addition to Frankfurt there are other locations in Canada, Australia and the UK.
In Frankfurt, the cyber specialist will start working as a licensed insurance agent and plans to enter the German market by developing and marketing insurance products, brokering insurance contracts, settling and processing claims and providing services related to the activities of an insurer. Coalition will offer - cyber insurance products primarily to companies with a turnover of up to one billion euros with capacity provided by Allianz Global Corporate & Speciality SE.
"Frankfurt RheinMain as a location for the insurance industry is also the focus of international insurers. Numerous international companies have their European headquarters here, and the English language skills in the region make Frankfurt RheinMain an ideal platform for companies that have their sights set on the German and European market. And[1] like Coalition plays an important role in this[2] ," says Eric Menges, President & CEO of FrankfurtRheinMain GmbH International Marketing of the Region
FRM GmbH accompanied the first steps of the Coalition Germany branch. The Coalition team was supported by the cooperation with the economic development agency of the city of Frankfurt in contacting business networks, provided industry and market information and helped in the search for suitable office space.