Mosaic celebrates first anniversary
“This is just the beginning,” Mosaic co-CEO Mitch Blaser has said on the Bermuda start-up's anniversary.
The Bermuda-headquartered specialty insurer with Lloyd’s of London Syndicate 1609 is celebrating a year in business, following its founding last February, backed by private-equity firm Golden Gate Capital. In the year since, it has hired 80 employees and now writes across six business lines: transactional liability (M&A), cybersecurity, political violence, political risk, financial institutions and professional liability.
“This time last year, we hit the ground running as a start-up, armed with innovative plans and a highly motivated team. Thanks to everyone involved, we’ve completed an outstanding first 12 months, achieving our planned targets,” said co-CEO Mitch Blaser. “We are grateful to our investors, clients, brokers, syndicated capital partners, and the wider corporate community for the huge support so far. With top specialty talent and an innovative tech platform, we’re building longevity, so this is just the beginning.”
The business has offices in Bermuda, London and New York, and has opened its Box (127 & 127B) on the Underwriting Floor at Lloyd’s. It has also launched a syndicated capital program, partnering with commercial carriers to underwrite challenging risks in regional markets worldwide.
“The concept, the timing, the underwriting focus, and, most of all, the people, were right –providing a unique opportunity to drive forward our ambitious goals,” noted Co-Founder and co-CEO Mark Wheeler. “We’re proud of what Mosaic has accomplished so far and thankful for the trust extended by our stakeholders. Now we look forward to building even more powerful partnerships that can match syndicated capital with clients’ complex risks in a time of global uncertainty.”
