Mosaic Insurance has partnered with hybrid fronting carrier Transverse Insurance Group to activate $20 million of cybersecurity capacity in the US market.
The strategic partnership marks an expansion of Mosaic’s syndicated program, brokered by Acrisure and based on London’s subscription market.
This initiative matches Mosaic’s proprietary capital through its Lloyd’s Syndicate 1609 with trade-partner capacity for commercial clients.
“We’re thrilled to work with Transverse as a fronting partner to facilitate US-market access to those participating in our syndicated capital business,” said Mosaic’s Chris Brown, EVP, Syndicated Capital Management.
“The distribution advantage allows our leading cyber team to deploy additional stable, syndicated capacity at a time of critical need. The arrangement also epitomizes our objective of connecting capital directly with designated exposures in specific territories. By doing so, we construct optimally customized portfolios of risk for our capital partners.”
Erik Matson, Chairman, CEO and co-founder of Transverse, also commented: “We look forward to partnering with Mosaic for this US-syndicated cyber capacity program.”
“Mosaic has a proven track record in the specialty underwriting space, and its team brings deep knowledge to this program. With the need for cyber security at an all-time high, we believe this partnership adds value to the market.”
