Mosaic syndicated capital programme closes in on $250m GWP target

Specialty re/insurer Mosaic’s syndicated capital programme has underwritten close to a quarter of a billion dollars in gross written premium  for industry partners since it was launched early last year, the company has revealed.

The Bermuda-based company said the programme, has originated nearly $250 million in GWP for more than 20 syndication trade partners including Apollo, Hampden Risk Partners, Nephila Syndicate 2358, SiriusPoint, Flux Syndicate, and IQUW.

“We’re thrilled with all the high-calibre portfolio partners we’ve attracted, and thankful for the faith they placed in Mosaic’s vision and value,” said Mosaic’s Chris Brown, EVP, Syndicated Capital Management. “Most are fellow Lloyd’s syndicates, and all will share the opportunities we reap from an innovative model and global strategy. Syndication brings a single solution to clients, and these partnerships, along with future ones we build, are integral to our collaborative success.”

Under its model, Mosaic Syndicate 1609 commits capital alongside that of carrier partners seeking regional access and underwriting expertise in non-commoditised specialty lines. The structure offers not only significant primary limits, but also the benefit of diversification of counterparty exposure.

Unlike a conventional MGA, Mosaic is the single decision-maker for underwriting and claims settlement, allowing accelerated response time. Acrisure International is the lead and coordinating placement partner for the programme, the company said.

Mosaic’s capital partners can choose a whole-portfolio approach, or engage with specific products or geographies. The portfolio does not include natural-catastrophe exposures, providing participants with opportunity for specialty diversification.

Syndicated capital partners have also been able to leverage ground-breaking partnerships Mosaic has forged with third parties to enhance risk selection and underwriting. These have included Mosaic x SAFEinside, a collaboration with tech leader Safe Security to offer inside-out evaluation to organisations while reducing premium pricing. Mosaic also partnered with Apex earlier this year to provide enhanced directors and officers (D&O) coverage for funds, factoring ESG credentials into the insurance risk assessment.

“We’re constantly sourcing new ways we can work with companies outside our industry to find opportunities, synergies, and mutual benefits,” said Liam Jones, EVP, strategic growth officer with Mosaic’s syndicated capital management team. “These strategic relationships give great value to our capital partners as well as to the end client.”