Mosaic realigns underwriting hubs, halts new Singapore business
Mosaic Insurance has reorganised its underwriting hubs to better align international resources and support its next phase of growth, consolidating operations into a single platform serving the Middle East and Asia from Dubai, while ceasing new business submissions in Singapore.
As part of the restructure, the company will relocate Benn Wilson (pictured right), chief executive officer of Mosaic Singapore, to Dubai, UAE, creating a unified underwriting hub to serve both regions. The move is designed to optimise Mosaic’s global footprint and better align its structure with regulatory and capital considerations.
The company said the change strengthens its model for expanding specialty business across key markets.
The insurer opened its Singapore office in March 2023 to write transactional liability business across Asia-Pacific. It has now decided to close local underwriting operations in the jurisdiction, citing structural considerations specific to the region and its ability to operate sustainable capital strategies.
Mosaic’s Singapore service company will remain in place to administer existing policies but will no longer accept new transactional liability submissions. New business will instead be facilitated through the company’s offices in the US, UK, UAE, Europe, Canada and Bermuda, subject to local regulatory requirements.
The company is working with Lloyd’s Asia to ensure an orderly closure of its Singapore operations, with no interruption to client service.
Mosaic said it remains committed to the global M&A liability market, including expected growth in tax liability business, and will continue investing in its underwriting platform across key hubs.
Tim Glover (pictured left), chief underwriting officer at Mosaic, said: “Bringing Benn’s expertise to our Dubai platform is part of a broader optimisation of our global underwriting network, and ensures our structure can support strong, long-term growth. The move enables the firm to better align our structure with regulatory and capital considerations and refocus resources where we see the greatest opportunity for our clients, brokers, and partners across both regions.”
William Monat, global head of transactional liability for Mosaic, added: “The reorganisation does not diminish our confidence in the great opportunities across the region or in the transactional liability product line—indeed, we remain fully committed to the global M&A liability marketplace and we expect growth, particularly around tax-liability business. We also want our broker partners and clients to know how much we value the relationships and business we have built together in the region.”
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