Allianz X, the strategic investment arm of the Allianz Group, is pleased to announce a strategic equity investment in Coterie Insurance (Coterie), a tech-enabled, data-powered managing general agent (MGA) specializing in property and casualty (P&C) commercial insurance products for small to mid-size business (SMB) owners in the United States.

“Coterie has an exceptional platform for the SMB insurance market, a segment that is both attractive and challenging,” said Alexander De Kegel, CIO and MD of Allianz X North America. “This deal demonstrates Allianz X’s ongoing commitment to the segment and the opportunities within it, as well as marking the beginning of the next phase of Coterie’s growth, which we will achieve together by leveraging our respective strengths.”

Coterie’s advanced technology ensures ease of use for policyholders and distribution partners alike, and 65 percent of the company’s policies are bound within the first 24 hours of the first touchpoint. This technology-forward approach couples stakeholder support with strong risk selection and underwriting discipline, which sits at the core of Allianz X’s investment thesis.

“Coterie enables agents and brokers to profitably write and service small and micro commercial accounts, and we are doing it with strong operating leverage to ensure long-term viability in this segment,” said David McFarland, CEO and Founder of Coterie. “By investing in AI-driven underwriting and servicing, we’re uncovering new and bigger opportunities every day. Our relationship with Allianz X will help us continue to build and advance in the micro-commercial space.”

As well as Allianz X leading Coterie’s Series C investment, the deal also involves leveraging the strengths of the Allianz Group to forge a long-term, expanded reinsurance relationship between Coterie and Allianz Reinsurance, the reinsurance arm of the Allianz Group.

“Allianz Re has been a reinsurer of Coterie since 2023, and we have been consistently impressed by their exceptional growth and strong underwriting performance,” said Holger Tewes-Kampelmann, CEO of Allianz Reinsurance. “We are excited to expand our reinsurance relationship with them, providing the necessary capacity to support their ambitious goals.”