The investment forms part of Coterie’s Series C round, led by Allianz X, and includes a plan to deepen collaboration between Coterie and Allianz Reinsurance, the reinsurance business of Allianz Group. The agreement expands an existing relationship, with Allianz Re already serving as a reinsurer for Coterie since 2023.

Alexander De Kegel, Chief Investment Officer and Managing Director of Allianz X North America, said the deal underscores Allianz’s commitment to the small business insurance market. “Coterie has an exceptional platform for the SMB insurance market, a segment that is both attractive and challenging. 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,” he said.

Coterie CEO and Founder David McFarland highlighted the company’s use of technology to serve small and micro-businesses. “We enable agents and brokers to profitably write and service small and micro commercial accounts with strong operating leverage to ensure long-term viability. 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,” McFarland said.

Holger Tewes-Kampelmann, CEO of Allianz Reinsurance, added that the reinsurer is eager to expand its support. “We have been consistently impressed by Coterie’s exceptional growth and strong underwriting performance. We are excited to expand our reinsurance relationship with them, providing the necessary capacity to support their ambitious goals,” he said.