Mergers and acquisitions insurance market leader, William Monat, will be spearheading specialty company Mosaic’s global transactional liability business.

Based in Chicago as executive vice-president, global head of mergers and acquisitions, Mr Monat will oversee underwriting operations in North America, the United Kingdom, Europe, and Asia-Pacific regions. His focus includes representations and warranties, tax insurance, and contingent liability insurance products.

“We are delighted to welcome someone of Bill’s stature to our growing team and excited to have a top-ranking industry figure drive this all-important business line,” Mosaic chief executive officer Mitch Blaser said. “Bill brings a wealth of experience, and global, cross-market knowledge. He is a highly respected thought leader, who, with our diverse, expert team, will guide this core business.”

A spokesman for the company said transactional liability is a significant line for Mosaic, whose management team has a successful track record in this sector.

“The M&A market has seen a dramatic uptick in the last two quarters, with increased demand for capacity across the board,” the spokesman said. “That recent trend follows a decade of growth in deal volume, with an increasing number of buyers and sellers seeking insurance protection in M&A, restructurings, partnerships, venture capital initiatives and other transactions. The surge is driving the need for accomplished insurance expertise in the sector.”

Mr Monat said he was thrilled to join Mosaic at its inception and help build a best-in-class transactional risk portfolio.

“Client demand is very high in the M&A space, and transactional risk products have become vital to closing M&A deals,” Mr Monat said. “I Iook forward to demonstrating to clients, trade capital partners and other stakeholders the differentiated solutions Mosaic can offer.”

Mr Monat has more than 20 years of experience as a leader in the transactional risk insurance sector as an underwriter, broker and lawyer. From 2011, he led the mergers and acquisitions group in North America for Willis Towers Watson, growing the brokerage practice to become a leader in the market.

Previously, he headed managing general agents M&A risk solutions and transaction risk solutions for over a decade. Mr Monat has experience as a practising attorney and certified public accountant, and is a sought-after speaker at industry events.

Founded by Mr Blaser earlier this year, Mosaic combines Lloyd’s Syndicate 1609 with a wholly owned syndicated capital management agency and underwriting hubs in Bermuda, London, the US and Asia. The company is focused on a select number of complex lines of speciality business being launched throughout 2021; to date, Mosaic has built teams who have begun underwriting political risk and cybersecurity globally.