Mosaic boosts global M&A capacity with syndicated partnerships
February 17, 2022
Hamilton, Bermuda—Mosaic Insurance is activating more global capacity to meet transactional liability risks, as a growing consortia of industry partners joins its syndicated capital program.
The specialty insurer will underwrite transactional risks for several new trade-capital partners, among them, HDI Global Specialty, Verto Syndicate 2689, and IQUW Syndicate 1856. The partnership drives Mosaic capacity in the high-demand sector from $25 million to $41 million in North America, and to $36 million through the rest of the world. Under the program, brokered by Acrisure, Mosaic deploys proprietary capital through its own Syndicate 1609, alongside partner capacity contributed by carriers seeking to leverage its underwriting expertise and distribution matrix.
“This is an important milestone for Mosaic in a line of business that has witnessed record-breaking demand over the past year,” said Mosaic’s Chris Brown, EVP, Syndicated Capital Management. “The transactional liability market requires deep underwriting expertise, so the caliber of our team, coupled with the broad regional market access our structure provides, enables us to develop attractive portfolios for our partners. We expect to see steady capacity growth through the program in this and other business lines.”
Transactional liability is a cornerstone of Mosaic’s model and specialty strategy, capitalizing on its leadership’s successful track record in the sphere. The company began underwriting mergers and acquisitions (M&A) coverage in the US last July, including representations and warranties insurance (RWI)—a staple for private equity and strategic buyers and sellers in M&A deals—and tax liability insurance. In November, Mosaic launched its UK division, and has rapidly built out market-leading teams in both New York and London, expanding to a total of 21 transactional liability specialists.
“Our syndicated offering allows Mosaic to serve broker partners and clients at a time of significant demand forspecialized underwriting to support M&A transactions,” said Bill Monat, Global Head of Transactional Liability at Mosaic. “Our team is committed to providing responsive and thoughtful execution to meet deal timelines and facilitate transactions across geographies.”
Mosaic launched its syndicated program in Q4 last year, providing capacity at a time of increased demand amidmarket constraints across its six business lines, also including cybersecurity, political risk, political violence, financial institutions, and professional liability.
Earlier this month, Mosaic began activating $20 million in cybersecurity capacity in the US market via capital deployed through a partnership with hybrid fronting carrier Transverse Insurance Group.
Mosaic’s syndicated capital partners can choose a whole-portfolio approach, or zero in on specific products or geographies. The portfolio does not have natural-catastrophe exposures, providing partners with a unique opportunity for specialty diversification.