Special insurer Mosaic Insurance Holdings Ltd. has established an international transaction responsibility platform based in London to initially focus on the UK and Europe, the Middle East and Africa. It has also expanded its M&A unit in the United States and said the measures are a response to the global market's record pace in business.
Bermuda-based Mosaic has appointed Sam Whiteman and Andrew Gofton-Salmond in London, with plans for further growth in the coming months. Mr. Whiteman joins the company as senior vice president, head of international transaction responsibility, and Mr. Gofton-Salmond joins as vice president, manager, transaction manager.
"This is an important time in Mosaic's development as we approach the end of our first calendar year," says CEO Mark Wheeler. The rapid development of our M&A platform, first in the US and now on its way up to London, serves the growing needs of customers in an unprecedented environment. ”
The launch in the UK follows a rapid expansion of the business line since Mosaic hired William Monat as Global Head of Transactional Responsibility in April, followed by Stavan Desai in May as North American team leader and Katherine Spenner as General Counsel.
Mr. Whiteman was previously head of London and emerging markets at Liberty Mutual. He will handle Mosaic's transaction liability guarantee outside North America with an initial focus on the UK and EMEA, reporting to Mr. Mon.
Mr. Gofton-Salmond hails from American International Group Inc., where he was a senior underwriter focusing on providing insurance for M&A business in the UK, Europe and emerging markets.
Mosaic began signing M&A coverage in July, including representations and warranties . insurance and other transaction risk products. Since then, its US-based M&A team has expanded to a total of 16 specialists.
"Economic conditions drive large volumes and value in business, and insurance coverage has become crucial to help buyers and sellers achieve rapid closures. To meet the strong demand with specialized issue guarantees, we plan to add another dozen specialists by the end of next year. , "Said Monat.
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