Mosaic Insurance has appointed Bermudian-based financial services executive Caroline Foulger as its board chairwoman, effective immediately.

“Caroline’s well-recognised reputation and global experience across our industry make her an ideal choice for this role,” said Mitch Blaser, co-CEO of Mosaic, the island-based global specialty insurer.

Mosaic co-CEO Mark Wheeler said: “Mosaic will benefit significantly from Caroline’s wealth of financial services knowledge and thoughtful leadership perspective.

“We’ve invited her to the board as Mosaic continues to build out its global growth, and we’re proud to have her join us on the journey.”

The company said Ms Foulger has been an independent, non-executive director in the financial services industry since 2013.

Prior to that, she was a partner at PwC Bermuda for 12 years, primarily leading the insurance practice in Bermuda and serving listed clients with both audit and advisory services.

Ms Foulger spent nine years, until last month, as a director for Hiscox and its subsidiaries at Lloyd’s and in Bermuda, serving as chair of the Hiscox audit committee, and a member of its risk, remuneration, governance, and investment committees.

Ms Foulger serves on the boards of several other public and private entities with operations in other areas of financial services. She has been a Bermuda resident since 1987 and became Bermudian in 2005.

Also joining the board is Alexander Dias, CEO and managing director of Angel Island Capital,

AIC is a specialty finance portfolio company of Mosaic’s anchor investor, Golden Gate Capital, a leading private equity investment firm with more than $19 billion of cumulative committed capital.