Mosaic names head of political risk citing rising social unrest
Mosaic Insurance has named a head of political risk as it continues to build a team to help clients navigate the changing risk landscape amid escalating economic stress and social unrest.
Finn McGuirk has been named as senior vice president with responsibility for building Mosaic’s political risk business, one of seven lines it plans to underwrite globally through its Lloyd’s Syndicate 1609.
McGuirk has nearly 25 years of experience in the political risk market, having served on both the broker and underwriting sides of the business. He was most recently head of the political risk and trade credit accounts for Pembroke Syndicate 4000 at Lloyd’s, and has headed similar divisions at AXA ASR and CNA Hardy. He has also worked at Chaucer Syndicates and Berry Palmer & Lyle.
Mark Wheeler, co-chief executive officer at Mosaic, emphasised the complex nature of political risk insurance demands deep market knowledge. “Escalating economic stress and social unrest caused by the pandemic mean the risks associated with cross-border exposures and investments have never been greater,” he said.
McGuirk added: “The negative fallout of COVID-19 on economies and lives worldwide means this class of insurance will play a growing, vital role in helping emerging markets leverage inward investment to recover.”
Since launching in February, Mosaic has commenced underwriting war, terror and political violence, political risk, and cybersecurity risk.
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