Mosaic Insurance has appointed Jennifer Zhu, of Golden Gate Capital, to its board of directors.

She joins six other directors of the company, including board chairwoman Caroline Foulger, who took up the position last year.

“I am thrilled to formally welcome Jenn to the board, particularly as we mark International Women’s Day today,” Ms Foulger said yesterday.

“Jenn has been a regular board attendee since Mosaic’s inception, and her formal appointment is a reflection of her valuable contributions over the last two years. Jenn and I together now comprise 40 per cent of the non-executive board directors — which aligns well to the nearly 40 per cent female employee complement at the company.”

Ms Zhu is a principal at Golden Gate, a San Francisco-based private equity firm that holds a majority stake in Mosaic through its financial services portfolio company, Angel Island Capital.

“Jenn has worked closely with us in her capacity at Golden Gate Capital since our launch, so it’s fitting she now joins the board in a more formal capacity, and she brings valuable knowledge and skills to the role,” said Mosaic co-CEO Mitch Blaser.

Ms Zhu previously worked at Sightway Capital, the private investment arm of Two Sigma. Prior to that, she was an associate at Pine Brook Partners.

Ms Zhu said: “I’ve enjoyed working with Mitch and Mark over the past two years and am incredibly proud of what the team has built. I look forward to working with Mosaic as it continues to grow.”

Mosaic has also opened an office in Singapore and hired two specialty underwriters to build its transactional liability business across the Asia-Pacific region.

Benn Wilson will serve as regional CEO and head of Asia for Mosaic’s transactional liability division.

Joining him is Edwin Chau, manager, transactional liability, who will focus on developing the company’s M&A insurance business across the region, the company said.

“Asia has always been part of our strategic vision for Mosaic, so we’re pleased to be open for business in this vital market,” said Mosaic’s underwriting director, David White.

“Our Singapore office, under Benn’s leadership, enhances the global underwriting access we have built to date and our Lloyd’s platform allows us to leverage relevant licenses and respected ratings to speed business growth.”

Underwriting capacity for Mosaic’s Singapore platform is provided by the company’s Lloyd’s Syndicate 1609, managed by Asta Managing Agency.

Asta’s service company, set up on the Lloyd’s Asia platform in Singapore, supports Mosaic with underwriting oversight and regulatory compliance services.

“I am delighted to have both Mosaic and Asta join the Lloyd’s Asia platform in Singapore,” said Mark Dyson, interim country manager, Singapore and interim CEO, Lloyd’s Asia.

Mosaic said Mr Wilson has lived and worked for more than 15 years in Asia, specialising in the M&A insurance sector. Before joining the industry in 2015, he was a corporate and private M&A solicitor for Ashurst LLP and in-house counsel for telecoms company Ooredoo.

He said: “I am delighted to join Mosaic to help launch its first Asian office and lead its transactional liability business here. Singapore is the ideal location from which to build an Asian business, as it’s a key regional hub for specialty insurance and, in particular, for the transactional liability market.”

Mr Chau previously spent three years at AIG, where he was responsible for underwriting transactional liability insurance in the region, Mosaic said. Before, he was on the broking side as a director at Aon’s transaction risks team for more than six years.

The new office is Mosaic’s eighth since the company launched on February 4, 2021.

With more than 130 employees, it also has underwriting hubs in Bermuda, London, New York, Chicago, Toronto, Frankfurt, and Dubai.

The specialty insurer focuses on seven lines of business: transactional liability, cyber, financial institutions, professional liability, political violence, political risk, and environmental liability.