Mosaic Starts Underwriting Financial Institutions

June 30, 2021 | 0 Comments

Mosaic has launched its financial institutions division, underwriting risks globally through its London office.

A spokesperson said, “The new specialty insurer is offering tailored coverage to help protect a broad range of financial institutions from exposures caused by crime, damages payable to third parties and legal defense costs. Its D&O coverage also safeguards personal assets of business leaders in the event of related claims.

Mosaic’s financial institutions team: Chris Brown, Andrew Deans, Chris Webb, Sara Maybury

Mosaic FI Team Bermuda June 2021

“Mosaic will be a lead market on all financial institutions coverage, taking a primary position to deploy maximum initial capacity at launch of USD$10 million for any risk, with capacity built to match demand as the product line grows.

“Sophisticated financial-sector companies face diverse and unique threats—from theft and customer claims, to regulatory investigations, and exposures for executives,” said Mosaic Co-CEO Mark Wheeler. “Our FI underwriting team has a highly-regarded track record in this business and they’ll be applying that deep knowledge, combined with a very discerning approach to risk selection.”

“Mosaic’s financial institutions team includes:

  • Chris Brown, EVP, Global Head, Financial Institutions, who has almost four decades of experience in the London market, with specialisation in financial institutions underwriting for the past 27 years
  • Andrew Deans, SVP, Underwriter, Financial Institutions, who has spent nearly 30 years in the London market, in both claims adjusting and underwriting. At Mosaic, he brings legal and policy-drafting expertise to the division
  • Chris Webb, SVP, Underwriter, Financial Institutions, who has nearly 40 years’ experience in the Lloyd’s market as both a financial institutions placing broker and underwriter. At Mosaic, he offers a wealth of experience and client relationships as a lead FI underwriter
  • Sara Maybury, Junior Underwriter Trainee, Financial Institutions, who joins Mosaic after graduating in 2020 from the University of St Andrews, Scotland, with a master’s degree in international relations. She started her career at a technology startup in London

“Financial institutions are navigating a more complex global landscape than ever before and need a true specialty partner,” said Brown. “Our team is well-equipped to meet that demand from a broad range of institutions—from banks, stock exchanges and trading platforms to asset managers and venture capital fund managers—to tackle fast-changing exposures in today’s environment.”

“Founded in February 2021, Mosaic combines Lloyd’s Syndicate 1609 with a wholly-owned syndicated capital management agency and underwriting hubs in Bermuda, London, the US, and Asia. The company is focused on complex specialty lines of business being launched throughout this year; to date, it has launched underwriting teams in cybersecurity, political violence, political risk, and professional liability lines.”

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