Global specialty insurer Mosaic Insurance has opened a Singapore office, in addition to hiring two specialty underwriters to build its transactional liability business across the APAC region.
Serving as regional CEO for the branch is Benn Wilson (pictured right), who will also serve as head of Asia for Mosaic’s transactional liability division. Transactional liability manager Edwin Chau (pictured left) will be joining Wilson in the Singapore office, and will focus on developing the company’s M&A insurance business across the region.
Wilson has lived and worked in Asia for more than 15 years, with specialization in the M&A insurance sector. Before entering the industry in 2015, he was a corporate and private M&A solicitor for Ashurst LLP and an in-house counsel for Ooredoo, a telecoms company.
“I am delighted to join Mosaic to help launch its first Asian office and lead its transactional liability business here. Singapore is the ideal location from which to build an Asian business, as it’s a key regional hub for specialty insurance and, in particular, for the transactional liability market,” Wilson said.
“Asia has always been part of our strategic vision for Mosaic, so we’re pleased to be open for business in this vital market,” said David White, Mosaic Insurance underwriting director. “Our Singapore office, under Benn’s leadership, enhances the global underwriting access we have built to date and our Lloyd’s platform allows us to leverage relevant licenses and respected ratings to speed business growth.”
The underwriting capacity for the newly opened Singapore platform will be provided by the firm’s Lloyd’s Syndicate 1609, which is managed by Asta of the Davies Group. In a separate statement, the managing agency announced the opening of a service company in Singapore set up on the Lloyd’s Asia platform within the region, and it will support Mosaic with underwriting oversight and regulatory compliance services.
“I am delighted to have both Mosaic and Asta join the Lloyd’s Asia platform in Singapore,” said Mark Dyson, Lloyd’s Asia interim CEO and Singapore interim country manager. “We have seen strong top-line and profitable growth on the platform in the previous two years and increasing the number of Lloyd’s syndicates further strengthens our underwriting capabilities and product offerings.”
The new office will be in Singapore’s central business district on Battery Road. It marks Mosaic’s eighth location since the company’s launch on Feb. 4, 2021. Mosaic currently has more than 130 employees, and has underwriting hubs located in Bermuda, London, New York, Chicago, Toronto, Frankfurt, and Dubai. Its specialty insurance focuses on seven lines of businesses: transactional liability, cyber, financial institutions, professional liability, political violence, political risk, and environmental liability.
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