Reinsurance News

Mosaic Insurance appoints Foulger as Board Chair

10th June 2022 - Author: Jack Willard

Specialty insurer, Mosaic Insurance has appointed Bermuda-based financial services executive Caroline Foulger as its Board Chair, effective immediately.

Since 2013, Foulger has been an independent, non-executive director within the financial services industry.

Previously she was a partner at PwC Bermuda, a role she worked in for 12 years, where she primarily lead the insurance practice in Bermuda and served listed client with both audit and advisory services.

In addition, Foulger also nine spent years, up until May 2022, as a director for Hiscox, as well as its subsidiaries at Lloyd’s and in Bermuda, where she served as chair of the Hiscox audit committee, and was also a member of its risk, remuneration, governance, and investment committees.

Foulger also serves on the boards of a number of other public and private entities with operations in other areas of financial services.

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She has been a Bermuda resident since 1987 and became Bermudian in 2005.

Commenting on her appointment, Foulger, said: “I’m delighted to join Mosaic’s Board in this role and at this time. Mosaic’s business model is exciting—it’s re-shaping the industry—and its values and culture truly resonate with me. The passion, commitment, and diversity of everyone connected to the company is palpable and I feel honored to work with them and be a part of it.”

Addressing Foulger’s appointment, Mitch Blaser, Co-CEO of Mosaic, said: “Caroline’s well-recognized reputation and global experience across our industry make her an ideal choice for this role. We look forward to working closely with her and fellow directors to generate value for all our stakeholders.”

Mark Wheeler, Mosaic Co-CEO, added: “Mosaic will benefit significantly from Caroline’s wealth of financial services knowledge and thoughtful leadership perspective. We’ve invited her to the Board as Mosaic continues to build out its global growth, and we’re proud to have her join us on the journey.”

At the same time, Mosaic has also appointed Alexander Dias, CEO and Managing Director of Angel Island Capital (AIC), to its Board of Directors.

AIC is a specialty finance portfolio company of Mosaic’s anchor investor, Golden Gate Capital, a leading private equity investment firm with over $19 billion of cumulative committed capital.

Dias joined AIC in 2020 and has over 18 years of finance industry experience.

Before he joined AIC, Dias was director of US portfolio finance and internal business strategy at Citadel LLC. Within this role he managed the US portfolio finance team, as well as providing secured financing solutions for the equities, credit, quantitative and commodities businesses.

“I am excited to join the Mosaic Board during the early stages of the company’s growth and business development,” said Dias.

“I share Mosaic’s vision of growing through technology and innovation, with an emphasis on building a strong team to execute the strategy. I look forward to providing my perspective and experience as Mosaic continues to expand the business.”

Addressing Mosaic’s new appointments, Dan Haspel, a Mosaic Board member and Managing Director at Golden Gate Capital, said: “The Board extends a warm welcome to both Caroline and Alex. They are both accomplished, dynamic leaders with significant specialty insurance and financial services expertise. We are confident they will make valuable contributions to Mosaic during this important period of growth.”

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