A Mosaic global syndicated capital programme has underwritten about a quarter of a billion dollars in gross written premiums for industry partners across its seven product lines and regions in less than two years

The programme was established in early 2022. It has attracted about 20 syndicate partners, including Apollo, Hampden Risk Partners, Nephila Syndicate 2358, SiriusPoint, Flux Syndicate and IQUW.

Mosaic Syndicate 1609 puts capital at risk along with its carrier partners. The company says that this model allows for “significant” primary limits and diversified counterparty exposure.

Mosaic’s Chris Brown, EVP, Syndicated Capital Management said: “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.”

Under its unique agency model, Mosaic Syndicate 1609 commits capital alongside that of carrier partners seeking regional access and underwriting expertise in non-commoditized specialty lines.

The structure offers not only significant primary limits, but also the benefit of diversification of counterparty exposure.

Unlike a conventional MGA, Mosaic is the single decision-maker for underwriting and claims settlement, allowing accelerated response time.

Acrisure International is the lead and coordinating placement partner for the program.

Liam Jones, executive vice-president, strategic growth officer, Mosaic syndicated capital management team, said: “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.”

David Sowrey, Acrisure Re partner and co-head of London Reinsurance, said: “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.”

The company has seven product lines covered by the programme: transactional liability, cyber, political risk, political violence, financial institutions, professional liability and environmental liability.

Natural-catastrophe exposures are not included.

The company has underwriting teams in Bermuda, London, New York, Chicago, Toronto, Frankfurt, Dubai and Singapore.

It is rated A+ by Standard & Poor’s, A by AM Best and AA- by Fitch Ratings, and it leverages off of Lloyd’s Syndicate 1609.