Mosaic Closes Singapore Operations
Mosaic Insurance has restructured its Singapore and Dubai underwriting platforms to strengthen its global operating model, with CEO Benn Wilson relocating to Dubai.
A spokesperson said, “Mosaic Insurance today announced a reorganization of two core underwriting hubs to align international resources and support its next phase of growth.
“Under the restructure, CEO of Mosaic Singapore, Benn Wilson, will relocate to Dubai, UAE, to service the Middle East and Asia from a single underwriting hub. The shift consolidates the company’s global footprint and strengthens its model for expanding specialty business.”
“Bringing Benn’s expertise to our Dubai platform is part of a broader optimization of our global underwriting network, and ensures our structure can support strong, long-term growth,” said Tim Glover, Mosaic’s Chief Underwriting Officer. “The move enables the firm to better align our structure with regulatory and capital considerations and refocus resources where we see the greatest opportunity for our clients, brokers, and partners across both regions.”
A spokesperson added, “The specialty insurer opened its Singapore office three years ago, in March 2023, to write transactional liability business in the Asia-Pacific region. The company said the decision to close local operations in the jurisdiction reflected structural considerations specific to the region and Mosaic’s ability to operate sustainable capital strategies.”
“The reorganization does not diminish our confidence in the great opportunities across the region or in the transactional liability product line—indeed, we remain fully committed to the global M&A liability marketplace and we expect growth, particularly around tax-liability business,” said William Monat, Global Head of Transactional Liability for Mosaic. “We also want our broker partners and clients to know how much we value the relationships and business we have built together in the region.
A spokesperson added, “As a result of the move, Mosaic’s Singapore service company will remain in place to administer to existing policies. Effective immediately, it will no longer accept new transactional liability submissions directly; instead, Mosaic will facilitate business via its offices in the US, UK, UAE, Europe, Canada, and Bermuda, subject to relevant regulatory requirements applicable to respective territories.
“The company is engaging actively with Lloyd’s Asia to ensure an orderly closure of its Singapore operations, with no interruptions to client service and in compliance with all regulatory obligations.”
“We are committed to honoring our responsibilities to our policyholders and broker partners, and we will work hard to maintain our service standards across the life of our existing Singapore portfolio,” said Glover.
A spokesperson added, “Mosaic marked five years in business last month. Along with transactional liability, its eight lines of business comprise financial institutions, professional liability, cyber, political risk, political violence, casualty, and environmental liability. The company continues to invest in its underwriting platform across key global hubs, supporting growing demand for specialty insurance solutions.”
