Reinsurance News

Mosaic expands London team

29th March 2022 - Author: Pete Carvill

Mosaic Insurance has expanded its international transactional liability team in the United Kingdom, adding four more employees to its London-based unit.

According to the firm, its recent additions include Frances Gerrard, manager; Ciaran O’Hara, AVP, underwriter; Ignacio Lope Regules, analyst; and Vladislàva Pràngadzhiýska, also an analyst.

Also counted within the new arrivals at Mosaic is Sam Whiteman, head of international transactional liability, who joined the firm in November.

Whiteman said in a statement: “Commercial enterprises around the world are acutely focused on cross-border risks and exposures amid today’s swiftly moving circumstances.”

He added: “Buyers and sellers are seeking to diligence and close deals on tight timelines, while avoiding holding funds in escrow through use of warranty and indemnity insurance and other products—increasingly, they are seeking certainty in executing these transactions.”

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Mosaic has been expanding its UK presence for at least six months. In November, it reported that it had launched its own transactional liability team in the country, alongside expanding its M&A unit in the US.

Back then, Reinsurance News reported that the UK launch followed a rapid buildout of the business line, beginning with the specialty startup hiring William Monat as global head of transactional liability in April 2021, followed by Stavan Desai in May as North American team leader and Katherine Spenner as chief legal officer.

Mosaic began underwriting M&A coverage in July 2021, including representations and warranties insurance (RWI) and other transactional risk products.

The US-based M&A team went onto expand to a total of 16 specialists, including JT Hutchens as Global Head of Tax, most based in New York. In February, it celebrated its first year in business that saw it secure Lloyd’s approvals, enabling worldwide licenses and financial-strength ratings, including A+ rating from Standard & Poor’s, A from AM Best, and AA- from Fitch Ratings.

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