Mosaic Celebrates Six Months Of Milestones

August 4, 2021 | 0 Comments

Mosaic Insurance celebrates its sixth month today [Aug 4], highlighting milestones including the “opening of three key offices, the establishment of four strategic regional distribution hubs, hiring of top talent, and underwriting across six product lines worldwide.”

Mosaic’s Chief of Staff Lisa Fontanetta and Co-CEOs Mark Wheeler and Mitch Blaser

Mosaic Lisa Fontanetta Mark Wheeler Mitch Blaser Bermuda Aug 2021

“We’ve evolved from an ambitious business plan to a powerful reality allowing talent, technology, and an innovative model to flourish together,” said Mosaic Co-Founder and Co-CEO Mitch Blaser. “

Our fast-growing team is extremely grateful to our investors, our clients and distribution partners, and to all our market stakeholders for the immense support they’ve shown us as we’ve built Mosaic over the past six months.”

Backed by private-equity firm Golden Gate Capital, Mosaic launched as a next-generation global specialty insurer February 4 this year, with new Lloyd’s of London Syndicate 1609 as its centrepiece and a focus on select, complex lines of business.

The company’s hybrid structure provides syndicated capacity by combining proprietary and trade capital—allowing Mosaic to source and underwrite business as a primary lead market.

Mosaic’s underwriting teams held their first meeting from the new Bermuda headquarters boardroom June 7, connecting colleagues in London, New York, Chicago, and the island

Mosaic Underwriting Team Bermuda Aug 2021

“Thanks to the agility of our model, matched with valuable trade-capital partner relationships, Mosaic has been able to bring much-needed, relevant product to market at a time of great geopolitical risk and uncertainty,” noted Co-Founder and Co-CEO Mark Wheeler.

“We are very appreciative for that, and we remain committed to working closely with clients and their advisors to tailor discerning solutions to their risks and exposures.”

Mosaic made its Lloyd’s of London debut May 17 when the iconic Underwriting Room reopened. Head of International Cyber James Tuplin was first on duty at Box 127 and 127B during the market’s new rota system

Mosaic Lloyd’s Box Bermuda Aug 2021

The company noted, “Since its launch, Mosaic has:

  • established corporate headquarters in Bermuda, along with four service companies accessing regional markets—Bermuda, United Kingdom, United States, and continental Europe—that engage Mosaic Syndicate 1609 alongside third-party capital. A fifth, in Asia, will be launched this fall
  • secured Lloyd’s approvals enabling worldwide licenses and financial-strength ratings: A+ rating from Standard & Poor’s, A from AM Best, and AA- from Fitch
  • recruited and onboarded nearly 60 employees across regions and fields of expertise
  • built global teams and launched respective underwriting across six product lines: cyber, political violence, political risk, financial institutions, professional liability and transactional liability [M&A]
  • received nearly 3,000 submission requests for insurance policies from prospective clients across product lines
  • set up three offices for staff, in Bermuda, London and New York, with more slated in the next six months
  • opened its Box [127 & 127B] on the Underwriting Floor at Lloyd’s
  • participated at several major industry events with invited staff as expert speakers and thought leaders
  • begun building a pioneering insurtech operating platform to support product lines and partners”

“A great deal has been accomplished in a very short time—and, perhaps most significantly, in a mostly virtual environment,” noted Mosaic Chief of Staff Lisa Fontanetta, a founding member of the company’s leadership team.

“From the outset, we have said we want to build a company and a culture to stand the test of time. Kudos to our incredible team for the passion and energy they bring to building that vision.”

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