Mergers and acquisitions specialists Stavan Desai and Katherine Spenner are joining Mosaic Insurance as the new Bermudian-based global specialty insurer builds out its transactional liability team in the United States.

The company said both will be based in New York and report to William Monat, a prominent market leader appointed global head of M&A by Mosaic on April 1 to spearhead its transactional liability business around the world.

Mr Monat said: “Stavan and Katherine bring impressive track records and expertise in the M&A sphere, and we’re delighted to welcome them to Mosaic.

“Highly skilled and thoughtful execution is critical in the M&A insurance sector, and they each bring deep expertise that will be instrumental to our success as we build our transactional risk business.”

The company said Mr Desai has been appointed SVP, M&A team leader, and will guide Mosaic’s underwriting team in North America.

Previously, he was a senior underwriter for AIG, with a focus on transitional risk insurance for complex M&A and secondary transactions, Mosaic said.

Prior to that role, he served as a senior attorney at Schulte Roth & Zabel, where he concentrated his domestic and cross-border practice on private equity, M&A, leveraged buyouts, and alternative asset management transactions.

Mr Desai said: “I am excited and humbled to have the opportunity to join the innovative team at Mosaic and build a leading transactional risk business.

“I look forward to collaborating with the expert team to provide our clients and partners with tailored solutions to meet the demands of a fast-paced M&A marketplace.”

The company said Ms Spenner joins Mosaic as SVP, chief legal officer, M&A, after previously serving as a senior transactional risk insurance underwriter at Everest Insurance.

Mosaic said she will play an integral role in leading innovative and consistent underwriting execution across the M&A insurance portfolio.

The company said Ms Spenner also brings nearly a decade of experience representing public and private-equity clients in a wide range of complex domestic and cross-border M&A transactions at White & Case and Torys.

Ms Spenner said: “I am incredibly honoured to join the Mosaic team. I am confident Mosaic’s entrepreneurial approach and focus on talent and innovation will position us well to quickly establish ourselves among market leaders in the specialty insurance space.”

Since its February launch, Mosaic said it has assembled a team of leading underwriters to build carefully selected products in its specialty portfolio.

To date, these include war, terror and political violence, political risk and cybersecurity.