Mosaic eyes Asia Pacific market for M&A insurance; expands to Singapore

Global specialty insurer  Mosaic is eyeing growth in the Asia Pacific market with a focus on developing its M&A insurance business across the region. The company has launched in Singapore with the hiring of two specialty senior underwriters making the move from AIG and Liberty Mutual Insurance.

Mosaic Insurance has opened an office in Singapore and hired Benn Wilson (pictured right) and Edwin Chau (pictured left) to build out its transactional liability business across the Asia Pacific region.

Wilson will serve as regional CEO, and head of Asia for Mosaic’s transactional liability division. Chau joins as manager, transactional liability, who will also focus on developing the company’s M&A insurance business across the region.

Wilson has worked for more than 15 years in Asia, specialising in the M&A insurance sector. Most recently, he served as Asia manager, Liberty Global Transaction Solutions, at Liberty Mutual Insurance, where he spent more than seven years.

Chau previously spent three years at AIG, where he was responsible for underwriting transactional liability insurance in the region. Prior, he was on the broking side, as a director at Aon’s transaction risks team for more than six years.

The underwriting capacity for Mosaic’s Singapore platform is provided by the company’s Lloyd’s Syndicate 1609, managed by Asta Managing Agency. Asta’s service company, set up on the Lloyd’s Asia platform in Singapore, will support Mosaic with underwriting oversight and regulatory compliance services.

“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 Mosaic’s underwriting director, David White. “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.”

Mark Dyson, interim country manager, Singapore and interim CEO, Lloyd’s Asia, said: “I am delighted to have both Mosaic and Asta join the Lloyd’s Asia platform in Singapore. 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.”

Wilson commented: “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.”

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