Mosaic boosts capacity with Lloyd’s carrier Apollo

Mosaic Insurance has added Lloyd’s carrier Apollo Syndicate Management to its consortia of industry partners, boosting the amount of syndicated capacity it can deploy for high-demand transactional liability coverage worldwide.

The partnership with Apollo supports Mosaic’s hybrid syndicated capital programme, in which Mosaic Syndicate 1609 commits capital alongside that of trade partners seeking regional access and underwriting expertise in non-commoditized specialty lines.

Apollo’s participation raises Mosaic’s underwriting capacity for transactional liability risks from $41 million to $50 million in North America, and from $36 million to $45 million in the rest of the world.

“This is a compelling opportunity that underscores Mosaic’s mission to connect capital with risk through valuable partnerships,” said Chris Brown, Mosaic’s EVP for syndicated capital management. “Apollo’s high-calibre reputation, strength through Lloyd’s, and significant investment in our syndicated capital program represent an important endorsement of Mosaic’s underwriting team and global strategy.”

Matt Newman, Apollo’s chief innovation & strategy officer, added: “Apollo are delighted to have partnered with Mosaic as a capacity provider. We look forward to building on our existing shared values and vision over the coming years in this mutually beneficial partnership.”

Mosaic began underwriting mergers and acquisitions coverage in the US last July, including representations and warranties insurance (RWI) and tax liability insurance. In November, Mosaic launched the unit’s international branch in London and has built out market-leading M&A teams in both jurisdictions, expanding to 23 specialists.

“The growth in our line size delivers on our promise to brokers to be a key insurer for mid- to large-cap transactions,” said Sam Whiteman, head of international transactional liability for Mosaic. “We’ve seen a significant increase in demand for our unique offering, and this increase in capacity helps us provide solutions for cross-border transactions at a time of great geopolitical uncertainty. It also supports Mosaic’s ambition to grow our presence in Europe, the Middle East, Africa, and further afield this year.”

Mosaic’s syndicated programme covers six business lines. As well as transactional liability, these include cybersecurity, political risk, political violence, financial institutions, and professional liability.