Mosaic signals its intentions in the transactional liability business with new hire
Mosaic is preparing an assault on the global transactional liability market, hiring a new M&A specialist it believes can establish the startup as a leading player in this underserved business.
William Monat has joined Mosaic as executive vice president and global head of mergers and acquisitions (M&A). He has more than 20 years of experience as a leader in the transactional risk insurance sector as an underwriter, broker and lawyer. He led Willis Towers Watson’s M&A group in North America from 2011, and has also headed managing general agents M&A Risk Solutions and Transaction Risk Solutions for over a decade.
At Mosaic Monat oversees underwriting operations in North America, the UK, Europe and Asia-Pacific, with a focus on representations and warranties, tax insurance and contingent liability insurance products. He is based in Chicago.
Mosaic emphasised the importance of the transactional liability business for the young company, whose management team is experienced in this sector, citing increased demand for capacity.
Mitch Blaser, Mosaic’s chief executive officer, called Monat “a highly-respected thought leader, who, with our diverse, expert team, will guide this core business.”
Monat said: “Client demand is very high in the M&A space, and transactional risk products have become vital to closing M&A deals.”
Blaser founded Mosaic in early 2021. The business combines Lloyd’s Syndicate 1609 with a wholly-owned syndicated capital management agency and underwriting hubs in Bermuda, London, the US, and Asia. It is focused on a select number of complex lines of specialty business being launched throughout 2021.
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