Bermudian international company Mosaic Insurance has opened an office in Chicago, Illinois, its second US physical location, as the staff buildout continues.

Mitch Blaser, co-founder and co-CEO of Mosaic, said: “The new Chicago office underscores our focus on the important North American market, where we source a large portion of our business.

“We’re thrilled to add the city to our strategic network of underwriting hubs that give us access to global specialty risks.”

It accommodates most of the company’s North American cyber-risk specialists, led by global head of cyber Yosha DeLong, as well as the global head of transactional liability, Bill Monat.

Ms DeLong currently oversees a team of eight in the US, the UK and Bermuda to meet rising demand for cybersecurity coverage.

She said: “Chicago is an important location for us, not only geographically, allowing us to service clients on both US coasts, but also as a significant hub of insurance.

“Amid economic and geopolitical uncertainty and the challenges of cross-jurisdictional exposures, we aim to offer solutions.”

Lisa Fontanetta, chief of staff, said: “Chicago represents another milestone in Mosaic’s buildout and will be an important North American location for us as we continue to develop our teams and business lines.

“We’ve had employees based there since last year, but this consolidates our presence in the city and highlights our focus on in-person collaboration and partnership.”

The new office joins operations in Bermuda, New York and London.

Mosaic launched in February 2021, with new Lloyd’s Syndicate 1609 as its centrepiece and a focus on six targeted lines of business, including political risk, political violence, financial institutions and professional liability, along with cyber and transactional liability.

The company plans to add more underwriting offices this year, in Europe, Canada, the Middle East and Asia.