Mosaic Insurance has completed its first year in business, securing 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.
Within this time, the company has also expanded through its strategic technology and capital partnerships, and has launched six global specialty underwriting units, and the hiring of 80 employees worldwide.
Back in November, the company launched a transactional liability team in the United Kingdom and expanded its M&A unit in the United States, which follows a rapid buildout of the business line since the specialty startup hired William Monat as Global Head of Transactional Liability in April, followed by Stavan Desai in May as North American team leader and Katherine Spenner as Chief Legal Officer.
Backed by private-equity firm Golden Gate Capital, Mosaic was established last year, with headquarters in Bermuda.
Mosaic Co-Founder and Co-CEO Mitch Blaser commented: “This time last year, we hit the ground running as a start-up, armed with innovative plans and a highly motivated team. Thanks to everyone involved, we’ve completed an outstanding first 12 months, achieving our planned targets.
“We are grateful to our investors, clients, brokers, syndicated capital partners, and the wider corporate community for the huge support so far. With top specialty talent and an innovative tech platform, we’re building longevity, so, this is just the beginning.”
Co-Founder and Co-CEO Mark Wheeler commented: “The concept, the timing, the underwriting focus, and, most of all, the people, were right—providing a unique opportunity to drive forward our ambitious goals.
“We’re proud of what Mosaic has accomplished so far and thankful for the trust extended by our stakeholders. Now we look forward to building even more powerful partnerships that can match syndicated capital with clients’ complex risks in a time of global uncertainty.”
Mosaic Chief of Staff Lisa Fontanetta added: “Amid the many challenges of operating in a mostly virtual, pandemic environment over the past 12 months, Mosaic has stayed on-track and accomplished an extraordinary amount.
“We’re now focused on the future. Congratulations to exceptional colleagues, across countries and continents, whose bold, collaborative spirit spurs Mosaic’s journey.”
