Next-generation global specialty insurer Mosaic Insurance has opened a new office in Dubai, United Arab Emirates, to better access risks across the Middle East, Africa, and South Asia markets.
Since its establishment in February 2021, Mosaic Insurance has opened seven hubs worldwide in Bermuda, London, New York, Chicago, Toronto, and Frankfurt, apart from Dubai, placing it in key business regions from which to deploy capacity through its Lloyd’s Syndicate 1609 and syndicated capital program with specialty trade partners. Its new Dubai office is located in the middle of the Dubai International Financial Centre (DIFC).
“Our growth is being driven by globalization and technology, and our proximity to clients means greater risk awareness, superior solutions, and a seamless claims response,” said co-CEO Mark Wheeler. “Mosaic’s broader market reach enhances our ability to originate business for ourselves and our syndicated capital partners.”
Three new specialist underwriters as well as a Mosaic Insurance finance team member will be working from the firm’s newest location.
Political risk specialist Dhruv Sharda (pictured left) has been named the senior executive officer, a role that allows him to take charge of underwriting operations from Mosaic’s new Dubai office.
Before he joined Mosaic Insurance, Sharda worked as a senior underwriter in Dubai. He has since built an expertise in structured trade credit and political risk in the region, before which Sharda worked in London writing political risk coverage.
“I’m delighted to open Mosaic’s new venture in Dubai,” Sharda said. He observed that the Middle East region’s insurance sector had seen significant growth in recent years, including an increasing awareness of the need for the right solutions to emerging specialty risks, including political risk, cyber risk, and terrorism.
“Mosaic’s advantage will be having on-the-ground underwriters to bring custom expertise and capacity closer to insureds in the region,” Sharda said.
Joining Sharda is senior underwriter Josh Hearnden (pictured second from left), who has been tasked with the job of growing Mosaic’s political violence risk portfolio, and cyber specialist Rob Storer (pictured second from right), who will bring over 10 years of industry experience to Mosaic’s cyber portfolio in the Middle East.
Ryan Rego (pictured right) will act as Mosaic’s financial accountant in its Dubai office.
“We welcome the Dubai team and look forward to offering expertise and much-needed capacity to clients across this important region,” said Mosaic underwriting director David White. “Our syndicated capital and consortia partners will also benefit from Mosaic’s focused access to specialty opportunities emanating from this growing market.”
The seven specialty product areas of Mosaic Insurance are:
