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Mosaic opens underwriting office in New York City

Mosaic Insurance logo New York with Blaser and Wheeler.jpg

Specialty start-up Mosaic Insurance has opened its first US-based physical address with an office in New York.

The new office, located in Midtown Manhattan, accommodates Mosaic’s cyber and transactional liability teams, along with finance and tech executives.

Mitch Blaser, Mosaic’s co-founder and co-CEO, 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,” he added.

The private equity-backed insurer already had cyber and transactional liability underwriters based in Chicago and other key employees in Los Angeles, Boston, and Virginia.

Mark Wheeler, the firm’s 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.”

He added: “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.”

Mosaic Insurance launched as a global specialty insurer in February with Lloyd’s Syndicate 1609 as its centerpiece and a focus on complex lines of business.

In July, the company began underwriting M&A insurance risks in the US market, and earlier this week the start-up recruited Jon Hutchens from law firm Dentons as its new global head of tax within its transactional liability unit.

The carrier has underwriting hubs in Bermuda, London, Continental Europe and Asia, and has it operations in cybersecurity, political risk, political violence, financial institutions and professional liability markets.

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