Hamilton, Bermuda—Mosaic Insurance is opening an office in Toronto, Ontario and has hired underwriting specialist Ian Fraser to spearhead the company’s expansion into the Canadian specialty insurance market.
Fraser joins as President of Mosaic Insurance Services Canada Inc (Mosaic Canada), responsible for operational strategy and growth, with core business lines comprising professional liability, cyber, financial institutions, and transactional liability.
“We are very excited about the launch of Mosaic Canada under Ian Fraser’s leadership and the tremendous opportunity we to have to distribute syndicated capacity directly in the Canadian market in the four classes we have selected,” said Mosaic’s Underwriting Director David White. “This is part of our ongoing strategy to build out broader geographical market access for our products.”
With more than 20 years’ experience in the specialty sphere, Fraser has developed and led profitable commercial portfolios for global and Canadian domestic insurance carriers, and previously was head of cyber/technology & professional lines for Sovereign Insurance in Toronto. His focus has included developing product, pricing, governance, distribution, and portfolio management.
“I’m thrilled to be joining the global Mosaic team with the mandate of setting up roots and leading its Canadian business,” said Fraser. “This is an exciting time and a unique opportunity. The marketplace has struggled in recent years with performance and capacity in the FI, PL, and cyber lines of business, and the Mosaic proposition will bring a refreshing and much-needed value-add to the Canadian marketplace.”
Backed by private-equity firm Golden Gate Capital, Mosaic launched as a next-generation global specialty insurer in February 2021. Comprising Lloyd’s Syndicate 1609 and agencies worldwide, the company has six specialty lines of business, selected for their high technical barriers to entry and relevance to current and projected global market conditions. Units include cybersecurity, political risk, political violence, transactional liability, financial institutions, and professional liability.
Toronto will be Mosaic’s fifth global office, following those in Bermuda, London, New York, and Chicago.