Mosaic
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Plus, the latest people moves and all the top news of the week. -
Bazan Group’s refinery near Haifa was badly damaged by Iranian bombardment in June.
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The executive brings nearly 30 years of liability experience to the role.
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Greg Branagan joined Mosaic in 2023 as AVP, tax underwriter, within TL.
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The company’s syndicate has booked an 87.4% combined ratio for 2024.
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This follows the exit of Mosaic’s head of international tax earlier this month.
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Gay has spent more than two years at Mosaic, having joined in November 2022.
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The underwriter was head of W&I for the UK and Ireland at Mosaic.
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Harland succeeds Anna Jay, who was named active underwriter of Syndicate 1609 in the summer.
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The firm said it underwrites on behalf of 26 insurers and has generated $1bn of agency premium in the last two years.
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A roundup of all the news you need today, including Mosaic’s restructure to drive agency growth.
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The energy liability market has seen a number of new entrants in recent months.
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The Incyde Risk facility will provide up to $25mn in capacity on a primary and first-excess basis.
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The deal gives follow form binding authority on behalf of syndicates 1609 and 5399.
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The syndicate reported a combined ratio of 101.2% in 2023.
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Mosaic has also added CNA Hardy’s Emily Humphreys to its PV team as part of the deal.
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Mosaic syndicated capital programme hits $250mn GWP across seven lines.
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The Bermuda-based specialist said the capital injection will boost its talent acquisition and product development plans.
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The carrier will look to support green energy projects in developing nations.
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Legal precedents are being set which could lead to crippling liabilities for US businesses as well as longer term data management implications.
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The syndicate reported a combined ratio of 105.1% for 2022 – its first full year of trading.
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Litigator Sarah Bowden has been appointed to oversee the new book of business.
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Jennifer Zhu is a principal at Golden Gate Capital, a majority stakeholder in Mosaic.
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Mosaic is the first to use the new company, hiring Benn Wilson and Edwin Chau to help it expand in the region.
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The carrier has also appointed Aron Zieler and Eileen Siemer to build out its new Frankfurt team.
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The transaction would have involved a partnership with Mosaic and a managing agent sale.
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Josh Hearnden becomes the second recent acquisition to the Mosaic PV team of late, following the news in May that Luke Bennett was joining from WRB Underwriting.
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The appointments mark Mosaic’s entrance into the environmental liability line of business.
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The carrier has also appointed Angel Island Capital CEO Alexander Dias to the board.
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The partnership ups Mosaic’s North American M&A liability capacity from $41mn to $50mn.
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Inigo 1301 achieved the greatest scale of the new syndicates, writing $428mn of business.
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The insurer has transferred cyber underwriter George Cole from London to its Bermuda HQ.
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The firm will leverage its partnership with DXC to build a fully digitalised managing agent, the co-CEO said.
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As part of the deal, all staff working for the managing agent will join Mosaic, while SiriusPoint will become a strategic investor in the carrier.
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HDI Global Specialty, Verto Syndicate 2689 and IQUW Syndicate 1856 are among the new trade capital partners.
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Incoming senior underwriter Womba Muzeya is joining insurance start-up Mosaic from Axa XL.
