Mosaic’s transactional liability unit hits $100m in GWP, makes promotions
Mosaic Insurance’s transactional liability division has marked its first year in business by making some promotions amid plans for continued geographic expansion.
The division’s Stavan (Stav) Desai (pictured right) has been promoted to Head of Americas, and Katherine Spenner (pictured left) becomes its global chief legal officer.
“Stav and Katherine have been instrumental to the launch and execution of our strategy, and their roles will continue to be vital as we build out our global operations,” said William Monat, Mosaic’s Global Head of Transactional Liability. “They have provided outstanding leadership and positioned Mosaic well for long-term success in the development of thoughtful underwriting and sound protocols in the M&A sector. They are both deserving of this recognition.”
Transactional liability is a cornerstone of Mosaic’s model. The company began writing mergers and acquisitions (M&A) business, including representations and warranties insurance (RWI), from the US in July 2021, led by Monat. Four months later, in November 2021, Mosaic opened an international unit in London, led by Sam Whiteman, with an initial focus on business in the UK and Europe, the Middle East and Africa (EMEA). The division exceeded $100 million in gross written premium in under 12 months of operation.
Currently, Mosaic has 17 transactional liability professionals in the US, including Global Head of Tax Jon (JT) Hutchens, and eight specialists in London—a tally set to grow this year, as Mosaic opens new offices in Canada, Continental Europe, and Asia.
