Equity is provided through Mosaics Lloyd’s Syndicate 1609, along with partner capacity contributed by airlines looking to leverage Mosaics’ underwriting expertise and sales matrix across six business areas, the company said.
“This is a significant milestone for Mosaic as it underscores the continued trust and collaboration we can share with capital partners and colleagues across the industry,” said Mark Wheeler, Co-Founder and Co-CEO of Mosaic. “It is also a core part of our business model – combining leading technology with highly specialized underwriting and robust governance to offer partners a sustainable, high-performing portfolio.”
Mosaic focuses on highly technical areas including transaction security, cybersecurity, political risk, political violence, financial institutions and professional liability. Capital partners can take an overall portfolio approach or select specific products or regions. The program does not participate in natural disaster risk.
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“Our syndicated offering shows full interest as we always have the capacity of 1609 alongside that of our carrier partners,” said Chris Brown (pictured above), Executive Vice President of Syndicated Capital Management at Mosaic. “Distribution is the key. We employ talented experts in local markets and write domestic business with syndicated capacities in order to avoid concentration risks. In the past, this approach has only been enjoyed by buyers in the Lloyd’s subscription market. “
The joint venture with DXC Technology also enables the company to offer its syndicated risk partners an Insurtech platform with access to real-time data and the distribution of underwriting metrics as well as claims and market data and analysis.
“We are delighted to be working with Mosaic on this groundbreaking global offering,” said Jason Howard, President of Acrisure International, the lead and coordinating referral partner for the program’s initial referral. “This takes advantage of the best of what Lloyd’s has to offer, with a very sophisticated approach to bringing underwriting talent into lines of business where world-class expertise is really important.”