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Mosaic’s milestone of new business

Mosaic Insurance, the Bermudian-based specialty insurer, is activating more global capacity to meet transactional liability risks, as a growing consortia of industry partners joins its syndicated capital programme.

The company said it would underwrite transactional risks for several new trade-capital partners, including HDI Global Specialty, Verto Syndicate 2689, and IQUW Syndicate 1856.

The partnership drives Mosaic capacity in the high-demand sector from $25 million to $41 million in North America, and to $36 million through the rest of the world.

Under the programme, brokered by Acrisure, Mosaic deploys proprietary capital through its own Syndicate 1609, alongside partner capacity contributed by carriers seeking to leverage its underwriting expertise and distribution matrix.

“This is an important milestone for Mosaic in a line of business that has witnessed record-breaking demand over the past year,” said Mosaic’s Chris Brown, EVP, Syndicated Capital Management.

“The transactional liability market requires deep underwriting expertise, so the calibre of our team, coupled with the broad regional market access our structure provides, enables us to develop attractive portfolios for our partners. We expect to see steady capacity growth through the programme in this and other business lines.”

The company said transactional liability was a cornerstone of Mosaic’s model and specialty strategy, capitalising on its leadership’s successful track record in the sphere.

The company began underwriting mergers and acquisitions coverage in the US last July, including representations and warranties insurance – a staple for private equity and strategic buyers and sellers in M&A deals – and tax liability insurance.

In November, Mosaic launched its UK division and has rapidly built out teams in both New York and London, expanding to 21 transactional liability specialists.

Bill Monat, global head of transactional liability at Mosaic, said: “Our syndicated offering allows Mosaic to serve broker partners and clients at a time of significant demand for specialised underwriting to support M&A transactions.

“Our team is committed to providing responsive and thoughtful execution to meet deal timelines and facilitate transactions across geographies.”

Mosaic said it had launched its syndicated programme in the fourth quarter last year, providing capacity at a time of increased demand amid market constraints across its six business lines, also including cybersecurity, political risk, political violence, financial institutions, and professional liability.

Earlier this month, Mosaic began activating $20 million in cybersecurity capacity in the US market via capital deployed through a partnership with hybrid fronting carrier Transverse Insurance Group.

Mosaic’s syndicated capital partners can choose a whole-portfolio approach, or zero in on specific products or geographies. The portfolio does not have natural-catastrophe exposures, providing partners with a unique opportunity for specialty diversification, the company said.

Mosaic team members Chris Brown, EVP, Syndicated Capital Management (left), and Bill Monat, global head of Transactional Liability (Photograph supplied)

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Published February 21, 2022 at 7:27 am (Updated February 21, 2022 at 7:27 am)

Mosaic’s milestone of new business

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