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Mosaic invites syndicated capital partners on worldwide risk

2nd December 2021 - Author: Charlie Wood

Mosaic Insurance has launched a syndicated program with the aim of drawing in new capital from commercial partners looking to underwrite complex specialty risks across various regional markets.

The initiative will see Mosaic source and select specialty risks not typically seen in London and underwrite them via its network of hubs. 

Mosaic is backed by Golden Gate Capital and focuses on highly technical lines such as transactional liability, cybersecurity, political risk, political violence, financial institutions, and professional liability. 

Currently, offices are located in the US, UK, and Bermuda—with more planned for 2022.

Proprietary capital is deployed through its Lloyd’s Syndicate 1609 as well as partner capacity contributed by carriers.

“This is a significant milestone for Mosaic, as it underscores the enduring trust and collaboration we are privileged to share with capital partners and peers across the industry,” said Mosaic Co-Founder & Co-CEO Mark Wheeler. 

“It also represents a core component of our company model—combining leading technology with very specialized underwriting and robust governance so that we can offer partners a sustainable, high-performance portfolio.”

“Our syndicated offering demonstrates a full alignment of interest, as we always have 1609’s capacity sitting alongside that of our carrier partners,” said Chris Brown, EVP, Syndicated Capital Management at Mosaic. 

“Distribution is key. We hire expert talent in local markets and underwrite business domestically using syndicated capacity to avoid any concentration risk. 

“Historically, that approach has only been enjoyed by buyers in the Lloyd’s subscription market.”

Mosaic notes how its joint venture with DXC Technology also allows it to offer syndicated risk partners an insurtech platform with equal access to real-time data and distribution of underwriting metrics, along with claims and market data and analytics.

“We’re thrilled to work with Mosaic on this ground-breaking global offering,” said Jason Howard, President, Acrisure International, the lead and coordinating placement partner for the program’s initial placement. 

“This leverages the best of what Lloyd’s offers with a very sophisticated roll-up of underwriting talent in classes of business where best-in-class expertise really matters.”

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