New Lloyd’s coverholder Macquarie will write follow-form for Mosaic

Insurance aggregator Macquarie took its new Lloyd's coverholder status and struck terms for follow-form binding authority to underwrite transactional liability on behalf of syndicates led by Mosaic. 

“With the granting of its coverholder status, Macquarie has partnered with Mosaic, a global specialist insurer, to write Transactional Liability Insurance on a delegated authority basis,” Macquarie said of the deal to write for Mosaic syndicates 1609 and 5399.

“The move forms part of Macquarie’s strategy to write a greater volume of premium via its Managing General Agent by broadening the capacity currently provided to it under existing binding authority agreements,” the firm said in its statement. 

Transactional liability has been in the Mosaic playbook and specialty strategy since its 2021 launch with $12.5 billion in capacity deployed in the sector to date. Macquarie, for its part, oversees approximately $1.6 billion of premium spend annually from participating private equity, infrastructure, energy and real estate firms.

Nick Wilski, Global Head of Macquarie Insurance Facility, said: “Over more than a decade, we have drawn on our deep relationships with financial sponsors, insurers, and brokers to unlock solutions in the insurance market. The opportunity provided by our Lloyd’s coverholder status and partnership with Mosaic will help us go further, accelerating our efforts to become a leading provider of insurance solutions to deal teams and portfolio companies.”

Samuel Whiteman, Head of International, Transaction Liability, at Mosaic, said: “We’re delighted to partner with Macquarie to support its successful application as a Lloyd’s coverholder and provide capacity in a critical line of business for both firms. Macquarie’s long-term commitment to successfully deploying transactional insurance aligns well with Mosaic’s mission to be a lead global market providing meaningful solutions in the sector. This partnership highlights our continued growth and investment in the M&A sphere.”

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