Mosaic continues to attract highly specialised talent
Mergers and acquisitions tax specialist Jon Hutchens has joined Bermuda-based Mosaic Insurance.
Based in Virginia, Mr Hutchens has been appointed SVP, global head of tax, transactional liability, reporting to the unit’s global head, William Monat.
Mr Hutchens will lead development of tax insurance underwriting, overseeing decisions on tax risks arising in North America, the United Kingdom, Europe and the Asia-Pacific region.
Mr Monat said: “We’re thrilled to welcome Jon to Mosaic as we continue to build a diverse, deeply experienced transactional liability unit to respond to the rising growth in market demand for capacity and knowledgeable underwriting.
“Jon’s focus on global tax insurance adds further highly specialised talent to our product offering as we expand our scope in this business line.”
Mosaic said that Mr Hutchens has 14 years of experience as a tax lawyer, most recently as a partner in Dentons US, based in New York City and Washington DC.
His work has focused on cross-border transactions and structures, including mergers and acquisitions, restructuring and expansions, counselling issuers on the treatment of various financial instruments, as well as advising insurance underwriters on tax risks in connection with specialty policies.
Mr Hutchens said: “It’s a time of great change in the global tax system. I’m excited to be joining such a skilled M&A team and to offer solutions for managing the complicated risks taxpayers are confronting in a multitude of jurisdictions.”
The company said that transactional liability coverage, including increasingly sought-after representations and warranties insurance, is core to Mosaic’s model, capitalising on its leadership’s successful track record in the sector.
The global specialty insurer, which launched in February, began underwriting M&A products in mid-July, and has been assembling a top-tier transactional team in the US, including senior underwriters and legal analysts.
Mosaic said that the business is among the company’s six current product lines, each selected for their high technical barriers to entry and relevance to current and projected global market conditions. Other units include cybersecurity, political risk, political violence, financial institutions and professional liability.