Mosaic’s global syndication programme writes $250m across seven lines
Specialist insurer Mosaic’s syndicated capital programme has underwritten close to a quarter of a billion dollars in gross written premium (GWP) for industry partners across its seven product lines and regions.
The programme, activated early last year, has originated nearly $250 million in GWP for more than 20 syndication trade partners. Among major re/insurers participating are Apollo, Hampden Risk Partners, Nephila Syndicate 2358, SiriusPoint, Flux Syndicate, and IQUW.
Under its unique agency model, Mosaic Syndicate 1609 commits capital alongside that of carrier partners seeking regional access and underwriting expertise in non-commoditised specialty lines. The structure offers significant primary limits, and the benefit of diversification of counterparty exposure. Acrisure International is the lead and coordinating placement partner for the programme.
“We’re thrilled with all the high-caliber portfolio partners we’ve attracted, and thankful for the faith they placed in Mosaic’s vision and value,” said Mosaic’s Chris Brown (pictured right), EVP, Syndicated Capital Management. “Most are fellow Lloyd’s syndicates, and all will share the opportunities we reap from an innovative model and global strategy. Syndication brings a single solution to clients, and these partnerships, along with future ones we build, are integral to our collaborative success.”
David Sowrey, Acrisure Re partner & co-head of London Reinsurance, commented: “Mosaic’s hybrid business model is truly the first of its kind, with the retained and delegated risk combination fully leveraging its team’s deep underwriting expertise. It provides complete alignment for valued capital partners, whose significant contribution supports Mosaic in delivering syndicated product directly to clients.”
Gary Lill, head of professional lines at IQUW, noted: “We’ve been excited to partner with Mosaic, whose interests are clearly aligned with those of their capital providers and who share the same philosophy as IQUW in terms of utilising data and technology to enable better underwriting decisions and to optimise its portfolio. We have worked with Mosaic since January 2022 and look forward to seeing the business thrive in the future.”
Matt Newman, Apollo’s chief innovation & strategy officer, added: “The partnership between Apollo and Mosaic is an example of how successful collaboration and shared values can lead to remarkable achievements. We look forward to broadening our relationship in future.”
Liam Jones (pictured left), EVP, strategic growth officer with Mosaic’s syndicated capital management team, commented: “We’re constantly sourcing new ways we can work with companies outside our industry to find opportunities, synergies, and mutual benefits. These strategic relationships give great value to our capital partners as well as to the end client.”
Launched in 2021, Mosaic sources complex specialty risks through its network of hubs and offers syndicated coverage through the program across all seven of its product lines—transactional liability, cyber, political risk, political violence, financial institutions, professional liability, and environmental liability. The company currently has underwriting teams in Bermuda, London, New York, Chicago, Toronto, Frankfurt, Dubai, and Singapore.
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