Mosaic Insurance has opened an office in Dubai, United Arab Emirates, as a strategic regional platform to access risks from across the Middle East, Africa, and South Asia (MEASA) market.
The new address is located within the Dubai International Financial Centre (DIFC) district. Three specialist underwriters, along with a finance team member, are based at the new location.
Mark Wheeler, Co-CEO of Mosaic, commented, “We now have seven business lines and a presence across seven key geographic business regions.”
“Our growth is being driven by globalisation and technology, and our proximity to clients means greater risk awareness, superior solutions, and a seamless claims response.
“Mosaic’s broader market reach enhances our ability to originate business for ourselves—and our syndicated capital partners.”
Political risk specialist Dhruv Sharda joins Mosaic as Senior Executive Officer to head up underwriting operations. Sharda has experience working in Dubai, having served as a senior underwriter focused on structured trade credit and political risk in the region. He has also operated in London, writing political risk coverage.
Sharda commented, “I’m delighted to open Mosaic’s new venture in Dubai. The region’s insurance sector has grown significantly in recent years, particularly in terms of awareness of the need for pragmatic solutions to manage fast-emerging specialty risks, including political violence and terrorism, cyber, and political risk.
“Mosaic’s advantage will be having on-the-ground underwriters to bring custom expertise and capacity closer to insureds in the region.”
Meanwhile, Josh Hearnden joins Sharda as senior underwriter, tasked with the role of developing Mosaic’s political violence portfolio.
Cyber specialist Rob Storer, a 12-year industry veteran, also joins the firm to develop Mosaic’s cyber portfolio in the Middle East, while Ryan Rego joins the office as a financial accountant.
Mosaic’s Underwriting Director David White, who oversees portfolio development and regional governance, said, “We welcome the Dubai team and look forward to offering expertise and much-needed capacity to clients across this important region.
“Our syndicated capital and consortia partners will also benefit from Mosaic’s focused access to specialty opportunities emanating from this growing market.”
Mosaic launched in February 2021 as a global specialty insurer. The firm deploys capacity through both its Lloyd’s Syndicate 1609 and syndicated capital program with trade partners across several specialty product areas.
Apex Protect offers enhanced directors and officers (D&O) coverage for funds, factoring ESG credentials, provided by Apex ESG Invest Check, into the insurance risk assessment. The initiative utilises Mosaic’s insurtech platform while leveraging Aon’s expertise and substantial footprint.
