Hamilton, Bermuda—Mosaic Insurance has marked the two-year anniversary of its global transactional tax liability team with the hire of another tax-risk specialist.
Greg Branagan joined the company’s London office this quarter as Tax Underwriter, Transactional Liability, supporting the transactional team on tax-risk matters in jurisdictions outside North America. A solicitor, he has over a decade of international tax experience, including a wide range of M&A and corporate tax matters.
Launched in late 2021, Mosaic’s tax underwriting team—which focuses on a broad spectrum of M&A-related and standalone tax risks—now has four specialists working within a transactional liability team totaling 32 professionals globally. Jon (JT) Hutchens is the company’s Global Head of Tax, based in the US along with Ze’ev Deutsch, Tax Underwriter, North America. In London, Will Gay, Head of International Tax, leads the focus on business in the UK, Europe, the Middle East and Africa (EMEA), and Asia-Pacific (APAC). To date, the tax liability team has written policies helping taxpayers manage risks in nine different taxing jurisdictions.
“At Mosaic we’re proud of our demonstrated ability to work as one global team,” said Hutchens. “It gives us the flexibility to offer commercial terms covering risks brought to market by brokers in any number of locations, on behalf of clients around the world who face potential liability in different taxing jurisdictions. Our team has a broad risk appetite across jurisdictions and industry sectors. We also have a reputation for deep dives into complex tax issues—that sets us apart in the market.”
“Bringing on someone of Greg’s caliber provides us with the ability to expand our reach in bringing bespoke solutions to clients across Europe,” added Gay.
Transactional liability is a cornerstone of Mosaic’s model and specialty strategy, with tax liability insurance being a critical component of the line. Mosaic’s hybrid capital model is another fundamental differentiator, combining capacity from its own Lloyd’s syndicate, 1609, with capital from a consortium of carrier partners seeking regional access and underwriting expertise in non-commoditized specialty lines.
“Our syndicated capital program allows us to distribute syndicated capacity directly,” said William Monat, Mosaic’s Global Head of Transactional Liability. “This provides clients with diversification and allows our capital partners to access tax insurance markets around the world. At the same time, we retain decision-making control over rates, line sizes, and claims handling and settlement.”
Transactional liability is one of seven lines of specialty business Mosaic underwrites. The firm’s other lines include: cyber, political risk, political violence, environmental liability, financial institutions and professional liability.
PHOTO CAPTION: Mosaic’s global tax-insurance team, from left: Will Gay, Ze’ev Deutsch, Greg Branagan, and Jon (JT) Hutchens