As a response to increased sector demand, Mosaic Insurance, a specialty insurer concentrating on cyber risk and financial institutions, has bolstered its North America and International transactional tax-liability teams.
This expansion includes the promotion of one specialist and the recent addition of four new tax-risk professionals.
Bill Monat, Global Head of Transactional Liability at Mosaic, said: “Growth of our global tax business is a strategic priority for Mosaic as we further build our market-leading underwriting capabilities to meet demand in this growing sector.
“This product class requires deep expertise to evaluate risk, and we’re thrilled to have more exceptional specialists join our team.”
With the new additions, Mosaic’s tax team now comprises nine specialists who focus on a range of M&A-related and standalone tax risks – for which the product indemnifies policyholders against financial loss, providing certainty during deal-making.
Operating on a unified global platform, the group distinguishes itself in handling intricate tax matters, benefiting from a diverse network of capacity providers, including Mosaic’s Lloyd’s syndicates and other prominent insurance carriers, and is further supported by the company’s skilled claims team.
JHeather Eskey joined Mosaic in the US, and will serve as Senior Vice President, focusing on tax risks across North America.
Eskey brings substantial underwriting expertise, having previously led Chubb’s transactional risk tax group. Her background also includes experience as a tax attorney at leading international law and accounting firms, as well as in-house corporate tax counsel for AIG.
Caleb Smith also joins the company’s New York office as a vice president in the tax-liability unit. He previously worked as a tax attorney with law firm Davis Polk Wardwell LLP in New York City, advising on US and international tax consequences of corporate transactions. Prior to law school, he spent several years in Washington, DC, serving in a variety of public-policy roles.
“The market for tax insurance in North America continues to grow, as taxpayers seek transactional certainty in uncertain times,” said Jon Hutchens, Mosaic’s Global Head of Tax, Transactional Liability. “It couldn’t be a better time to bring Heather to our team, with her years of sophisticated tax underwriting and advisory expertise. And we’re equally excited to bring Caleb into the market, positioning us well to meet current and future demand for solutions tailored to our policyholders’ needs.”
Ze’ev Deutsch, who joined Mosaic’s New York office in 2022, was promoted to SVP on the tax team.
Previously an attorney at Fried, Frank, Harris, Shriver & Jacobson LLP, he specialises in US and Canadian tax risk evaluation, covering areas like renewable energy tax credits, inbound investment income characterisation, and historical tax positions in public M&A.
VP Roktim Kaushik, a former KPMG tax attorney, also assists the New York team.
Additionally, in the UK, Mosaic’s international tax underwriting team welcomed Byron Thomas, SVP, and Li Hong Gosen, AVP, as tax underwriters.
Thomas, a barrister, previously led the international tax underwriting team at Themis Underwriting. Prior, he spent over a decade as an international and M&A tax advisor at EY, most recently as a director based in London.
Gosen comes to tax underwriting after M&A tax lawyer roles at KPMG and EY in the Netherlands and London, where she specialised in cross-border structures and transactions for listed, large cap, and mid-market businesses.
“I’m excited by the growth in our international tax team,” noted Greg Branagan, SVP, Head of International Tax, Transactional Liability. “Byron and Li Hong are top-quality tax professionals who fit in well with our underwriting ethos, and they’ll help the team move from strength to strength in the global tax insurance market.”
