Mosaic builds out global transactional tax-risk team

Hamilton, Bermuda—Mosaic Insurance has expanded its North America and International transactional tax-liability teams to meet heightened demand in the sector, with the recent addition of four tax-risk specialists and the promotion of another.

“Growth of our global tax business is a strategic priority for Mosaic as we further build our market-leading underwriting capabilities to meet demand in this growing sector,” said Bill Monat, Global Head of Transactional Liability at Mosaic. “This product class requires deep expertise to evaluate risk, and we’re thrilled to have more exceptional specialists join our team.”

Mosaic’s tax team now comprises nine specialists who focus on a range of M&A-related and standalone tax risks—for which the product indemnifies policyholders against financial loss, providing certainty during deal-making. The group distinguishes itself in complex tax issues and operates on a one-team global platform, backed by a diversified group of capacity providers, including Mosaic’s Lloyd’s syndicates and other leading insurance carriers, and supported by the company’s experienced claims team.

In the US, Heather Eskey has joined the company as a senior vice president, supporting on tax risks in North America. She brings underwriting experience from her previous role leading Chubb’s transactional risk tax group. She also served as a tax attorney at top global law and accounting firms, and as in-house corporate tax counsel at AIG.

Caleb Smith also joins Mosaic’s New York office as a vice president in the tax-liability unit. He previously worked as a tax attorney with law firm Davis Polk Wardwell LLP in New York City, advising on US and international tax consequences of corporate transactions. Prior to law school, he spent several years in Washington, DC, serving in a variety of public-policy roles.

“The market for tax insurance in North America continues to grow, as taxpayers seek transactional certainty in uncertain times,” said Jon Hutchens, Mosaic’s Global Head of Tax, Transactional Liability. “It couldn’t be a better time to bring Heather to our team, with her years of sophisticated tax underwriting and advisory expertise. And we’re equally excited to bring Caleb into the market, positioning us well to meet current and future demand for solutions tailored to our policyholders’ needs.”

Ze’ev Deutsch, who joined Mosaic’s New York office in 2022, has been promoted to SVP in the tax team. Previously an attorney at Fried, Frank, Harris, Shriver & Jacobson LLP, he has deep expertise in evaluating tax risks in the US and Canada, in areas ranging from tax credits for investment in renewable energy projects and characterization of income from inbound investments to historical treatment of tax positions taken by targets in public M&A transactions. Roktim Kaushik, VP, a former tax attorney at KPMG, also supports the New York-based team.

In the UK, Mosaic’s international tax underwriting team—led by Greg Branagan, SVP, and including Camille Zabukovec, AVP—has welcomed Byron Thomas, SVP, and Li Hong Gosen, AVP, as tax underwriters. Thomas, a barrister, previously led the international tax underwriting team at Themis Underwriting. Prior, he spent more than 10 years as an international and M&A tax advisor at EY, most recently as a director based in London.

Gosen comes to tax underwriting after M&A tax lawyer roles at KPMG and EY in the Netherlands and London. In those posts, she specialized in cross-border structures and transactions for listed, large cap, and mid-market businesses.

“I’m excited by the growth in our international tax team,” noted Branagan. “Byron and Li Hong are top-quality tax professionals who fit in well with our underwriting ethos, and they’ll help the team move from strength to strength in the global tax insurance market.”

Transactional liability is one of eight lines of business Mosaic underwrites. The firm’s other focus areas are: cyber, environmental liability, financial institutions, political risk, political violence, professional liability, and excess casualty.

The information contained herein is for general informational purposes only and does not constitute an offer to sell or a solicitation of an offer to buy any product or service. Any description set forth does not include all policy terms, conditions and exclusions. Bound insurance policies, rather than summaries thereof, govern. Not all insurance coverages, products or terms may be available. US risks may be placed in the surplus lines market; surplus lines insurers do not participate in US state guaranty funds and coverage may only be obtained through duly licensed surplus lines brokers. Contact Mosaic or your broker for additional details.