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Specialty insurer Mosaic launches operations

Mitch Blaser

Hamilton, Bermuda-based global specialty insurer Mosaic Insurance Holdings Inc. officially launched operations in Bermuda, London, the United States and Asia, the company said Thursday.

Mosaic is headed by CEO Mitch Blaser, former CEO of Ironshore Bermuda. Its anchor investor is Golden Gate Capital, a San Francisco-based private equity firm, which will hold a majority stake in the insurer through its financial portfolio company, Angel Island Capital.

Mosaic said it is combining Lloyd’s Syndicate 1609 with a wholly owned syndicated capital management agency.

It said as a primary-layer lead market, Mosaic is focused on high-value, specialty lines of business with steep technical barriers to entry and strong growth trends, including transactional liability, cyber, political risk, political violence, environmental, financial and professional lines.

“We saw a unique opportunity in the market and envisioned a powerful new way to syndicate capital to manage clients’ most complex risks,” Mr. Blaser said in the statement.

Mosaic had previously announced that Zurich North America’s cyber and professional lines underwriting chief, Yosha DeLong, had joined it as senior vice president and head of cyber underwriting.