Cyber-focused underwriting agency Coalition has signed a long-term capacity agreement with Mitsui Sumitomo Insurance to write more business in the Australian market.

The agreement adds to the binder authority Coalition secured with Allianz when it began operations in the country last year with the launch of its Active Cyber Insurance program.

Coalition will start deploying Mitsui capital for the program from January.

“We’re excited to add new capacity and partner with [Mitsui] as we embark on our next chapter of growth,” Coalition’s Australian GM Sam Weaver said. “Mitsui Sumitomo Insurance is a well-respected provider with an excellent reputation, and partnering with it enables us to expand our presence in the Asia-Pacific region and continue to provide outstanding coverage to our policyholders.”

Coalition says it has secured more than 1400 SME policyholders following its launch nearly a year ago.

Mitsui Australia branch GM Tomoyuki Komagome says the collaboration with Coalition “underscores our commitment to supporting SMEs in Australia with comprehensive cyber insurance solutions ... By combining our extensive experience, network and scale across the Asia-Pacific region with Coalition’s technology-driven approach, we aim to diversify and grow together while enhancing the resilience of businesses in an increasingly digital landscape.”