Mosaic Insurance, the Bermudian-based global specialty insurer, has appointed Finn McGuirk to lead its political risk business.

The company said the experienced Lloyd’s of London specialty underwriter will serve as SVP, head of political risk, responsible for building the fast-evolving class of business – one of seven lines the new insurer will underwrite globally through its Lloyd’s Syndicate 1609.

Mosaic said he joins the company’s London team today.

Mark Wheeler, co-CEO of Mosaic, said: “Escalating economic stress and social unrest caused by the pandemic mean the risks associated with cross-border exposures and investments have never been greater.

“The complex nature of political risk insurance demands deep market knowledge, so we’re very proud to welcome someone of Finn’s exceptional underwriting talent in this field to our team.”

Mosaic said Mr McGuirk has nearly 25 years of experience in the political risk market, initially as a broker before moving to underwriting.

Most recently, he was head of the political risk and trade credit accounts for Pembroke Syndicate 4000 at Lloyd’s and headed similar divisions at AXA ASR and CNA Hardy.

Previously, he worked for Chaucer Syndicates and Berry Palmer & Lyle.

Mr McGuirk said: “It’s a privilege to join a forward-thinking company like Mosaic at a time when political risk is increasingly affecting clients in volatile regions.

“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 its launch in February, Mosaic said it has assembled a team of leading underwriters to build a bespoke group of globally relevant specialty products.

To date, the company is underwriting war, terror and political violence, political risk, and cybersecurity, it said.