US and UK Mosaic expansion continues
Bermuda-based Mosaic Insurance has launched a transactional liability team in the United Kingdom and expanded its M&A unit in the United States to respond to what it says is the global market’s record pace and volume of deal activity.
The global specialty insurer has hired Sam Whiteman and Andrew Gofton-Salmond in London to establish its international transactional liability platform, with plans for further growth in coming months.
“This is an important juncture in Mosaic’s development as we approach the end of our first calendar year,” co-CEO Mark Wheeler said.
“Transactional liability is a core focus of our model and growth strategy, and a product line we expect to grow exponentially in North America and beyond.
“The fast-paced development of our M&A platform, first in the US and now ramping up in London, serves the rising needs of clients in an unprecedented environment.”
The UK launch follows a rapid buildout of the business line since the specialty start-up hired William Monat as global head of transactional liability in April, the company said.
Mr Whiteman joins the company as SVP, head of international transactional liability, reporting to Mr Monat.
Previously head of London and emerging markets at Liberty Mutual, the company said, he will manage Mosaic’s transactional liability underwriting outside North America with initial focus on the UK, Europe, the Middle East and Africa.
Mr Gofton-Salmond joins Mosaic as VP, manager, transactional liability.
With more than a decade of experience advising on and underwriting M&A transactions, the company said, he joins from AIG, where he was a senior underwriter with a focus on providing insurance for M&A deals across the UK, Europe and emerging markets.
Mr Monat said: “We’re thrilled to welcome Sam and Andrew to join the incredibly talented group of experts we’ve been building over recent months, and the timing couldn’t be better.
“Economic conditions are driving heavy deal volume and value, and insurance coverage has become vital to help buyers and sellers achieve timely closures. To meet that robust demand with specialised underwriting, we plan to add another dozen specialists by the end of next year.”
Mr Whiteman said: “I’m delighted to join Mosaic’s team and enter the market at a time where our offering and experience is needed more than ever.
“We’re creating a market-leading underwriting team in London and EMEA, with huge opportunity further afield, working with key partners to meet client needs.”
Recent additions to Mosaic’s M&A team in New York include:
• Hannah Burnham, SVP, who underwrites complex and multifaceted transactional liability risks.
• Edward Newton, SVP, who underwrites transactional liability risks.
• Robert Bowne, VP, who brings experience underwriting a variety of complex M&A risks.
• Brian Howton, VP, who specialises in complex M&A risks.
• Casey Olden, VP, who underwrites M&A risks.
• Shannon Westerlind, VP, who underwrites M&A risks.
• Matteo Maroun, AVP, who underwrites and develops the unit’s operational infrastructure and team of analysts.
Other important additions to Mosaic’s transactional liability team in New York, the company said, include legal analyst Tamar Katamadze and analysts Griffin Genet, Yuqi Lin, Justin Wong and Vivian Ye.
Mosaic said that transactional liability is among the company’s suite of six product lines, each selected for relevance to current and projected global market conditions.
Other units include cyber, political risk, political violence, financial institutions and professional liability.