By The Royal Gazette 2021-02-05T09:28:00+00:00
Veteran insurance executive Mitch Blaser has launched a new Bermudian-headquartered company with the aim of building one of world’s top global specialty insurers.
Mosaic, which will target complex risks and use cutting-edge technology to maximise efficiency, is basing its head office and an underwriting operation on the island.
In London, the company will operate Lloyd’s Syndicate 1609 – a number chosen to reflect the company’s strong connection with Bermuda – and it has also launched operations in several US locations, as well as in Asia.
Mr Blaser, one of the founding members of Bermuda specialty insurer Ironshore’s executive team in 2007, is backed by anchor investor Golden Gate Capital. The US-based private-equity firm will hold a majority stake through its financial services portfolio company, Angel Island Capital. Members of Mosaic’s leadership team have also invested in the start-up.