Bermuda-headquartered Mosaic Insurance has opened an office in Dubai as a strategic regional platform to access risks from across the Middle East, Africa and South Asia market.
Three specialist underwriters, along with a finance team member, are based at the new location. The company’s other physical hubs are located in Bermuda, London, New York, Chicago, Toronto, and Frankfurt.
“We now have seven business lines and a presence across seven key geographic business regions,” said Mosaic co-CEO Mark Wheeler. “Our growth is being driven by globalisation and technology, and our proximity to clients means greater risk awareness, superior solutions and a seamless claims response. Mosaic’s broader market reach enhances our ability to originate business for ourselves—and our syndicated capital partners.”
Political risk specialist Dhruv Sharda joins the company as senior executive officer to head up underwriting operations from the new centre, located within the DIFC.
Mr Sharda previously worked in Dubai as a senior underwriter focused on structured trade credit and political risk in the region, and in London writing political risk coverage.
He said, “The region’s insurance sector has grown significantly in recent years, particularly in terms of awareness of the need for pragmatic solutions to manage fast-emerging specialty risks, including political violence and terrorism, cyber and political risk. Mosaic’s advantage will be having on-the-ground underwriters to bring custom expertise and capacity closer to insureds in the region.”
Backed by private-equity firm Golden Gate Capital, Mosaic was launched in 2021 as a next-generation global specialty insurer. The company deploys capacity through both its Lloyd’s Syndicate 1609 and syndicated capital programme with trade partners across seven specialty product areas: Transactional liability, cyber, political risk, political violence, environmental liability, financial institutions, and professional liability. M