Macquarie Insurance Facility has expanded its insurance capabilities after gaining approval as a Lloyd’s coverholder, and has subsequently partnered with Mosaic Insurance to write Transactional Liability Insurance on a delegated authority basis.
The new agreement gives Macquarie follow form binding authority on behalf of Mosaic Syndicates 1609 and 5399, enabling it to write transactional liability insurance using the capacity provided by Mosaic.
The move forms part of Macquarie’s strategy to write a greater volume of premium via its Managing General Agent by broadening the capacity currently provided to it under existing binding authority agreements.
Nick Wilski, Global Head of Macquarie Insurance Facility, commented, “Over more than a decade, we have drawn on our deep relationships with financial sponsors, insurers, and brokers to unlock solutions in the insurance market. The opportunity provided by our Lloyd’s coverholder status and partnership with Mosaic will help us go further, accelerating our efforts to become a leading provider of insurance solutions to deal teams and portfolio companies.”
Samuel Whiteman, Head of International, Transaction Liability, Mosaic, said, “We’re delighted to partner with Macquarie to support its successful application as a Lloyd’s coverholder and provide capacity in a critical line of business for both firms.
“Macquarie’s long-term commitment to successfully deploying transactional insurance aligns well with Mosaic’s mission to be a lead global market providing meaningful solutions in the sector. This partnership highlights our continued growth and investment in the M&A sphere.”
