Mosaic poaches head of political risk from Pembroke Syndicate 4000

Mosaic Insurance has hired Finn McGuirk as senior vice president and head of political risk.

McGuirk has spent nearly 25 years in the political risk market, on both the broker and underwriting sides of the business. He joins from Pembroke Syndicate 4000 at Lloyd’s, where he was head of the political risk and trade credit accounts. He has also headed similar divisions at AXA ASR and CNA Hardy, and has also worked at Chaucer Syndicates and Berry Palmer & Lyle.

In his new role McGuirk assumes responsibility for building Mosaic’s political risk business, one of seven lines it plans to underwrite globally through its Lloyd’s Syndicate 1609.

Mark Wheeler, co-chief executive officer at Mosaic, emphasised the complex nature of political risk insurance demands deep market knowledge. “Escalating economic stress and social unrest caused by the pandemic mean the risks associated with cross-border exposures and investments have never been greater,” he said.

McGuirk added: “The negative fallout of COVID-19 on economies and lives worldwide means this class of insurance will play a growing, vital role in helping emerging markets leverage inward investment to recover.”

Since launching in February, Mosaic has commenced underwriting war, terror and political violence, political risk, and cybersecurity risk.