Log In

Reset Password
BERMUDA | RSS PODCAST

Mosaic opens New York office

Bermuda-based Mosaic Insurance has opened an office in New York, its first US-based physical address for a growing number of employees.

The Midtown South office at 65W 36th Street, which will accommodate members of the global specialty insurer’s cyber and transactional liability lines, along with technologists and finance executives, opened this week, as the company continues to build out its North American contingent, it said.

The start-up already has cyber and transactional liability underwriters based in Chicago and other key employees in Los Angeles, Boston, and Virginia.

Mitch Blaser, co-founder and CEO of Mosaic, said: “As a born-and-bred New Yorker, I am thrilled to celebrate this milestone as we open an address that spearheads our North American distribution ambitions.

“Global syndication of our specialty underwriting expertise — matching local distribution with Lloyd’s of London security — is core to the model of Mosaic, and North America is paramount to its success. We’re excited to join the New York City corporate community and proud to be here.”

Backed by private-equity firm Golden Gate Capital, Mosaic said that it launched as a next-generation global specialty insurer on February 4, with new Lloyd’s Syndicate 1609 as its centrepiece and a focus on select, complex lines of business.

The company said that its hybrid structure will comprise underwriting hubs in Bermuda, London, Europe, the US and Asia to offer capacity and custom service to clients in leading markets.

Mark Wheeler, co-founder and co-CEO, said: “New York represents a momentous step for Mosaic. In this, our first year, we will underwrite more business from the US than from all other countries combined.

“An integral part of the value proposition for Mosaic’s syndicated capital and consortia partners is our differentiated business model and focused access to pure specialty business from regional markets across the globe. This, combined with leading-edge data and analytics, represents true competitive advantage.”

The company said that it is currently underwriting product lines selected for high technical barriers to entry and relevance to current and projected global market conditions: transactional liability (M&A), cybersecurity, political risk, political violence, financial institutions and professional liability.

New York state of mind: cyber and transactional risk underwriters and analysts, technologists, finance and other professionals celebrate the opening of Mosaic Insurance’s New York City office this week, the company’s first physical address in North America (Photograph supplied)

You must be Registered or to post comment or to vote.

Published October 15, 2021 at 7:56 am (Updated October 15, 2021 at 7:55 am)

Mosaic opens New York office

What you
Need to
Know
1. For a smooth experience with our commenting system we recommend that you use Internet Explorer 10 or higher, Firefox or Chrome Browsers. Additionally please clear both your browser's cache and cookies - How do I clear my cache and cookies?
2. Please respect the use of this community forum and its users.
3. Any poster that insults, threatens or verbally abuses another member, uses defamatory language, or deliberately disrupts discussions will be banned.
4. Users who violate the Terms of Service or any commenting rules will be banned.
5. Please stay on topic. "Trolling" to incite emotional responses and disrupt conversations will be deleted.
6. To understand further what is and isn't allowed and the actions we may take, please read our Terms of Service
7. To report breaches of the Terms of Service use the flag icon