Mosaic Insurance, the Bermuda-headquartered startup and Lloyd’s specialty insurer, operates with a unique structural twist. Its hybrid model has the flexibility of a managing general agent (MGA), the stability of a carrier’s long-term capital, plus the ratings, global licenses and distribution reach of Lloyd’s of London.Executive SummaryMosaic Insurance is the brainchild of industry veterans Mitch Blaser and Mark Wheeler, who came up with a new business model that deploys flexible syndicated capital, enabling the insurer to export Lloyd’s paper anywhere in the world. They aim to combine the best “pieces” of the industry, like a mosaic, to re-shape the way the business operates.
Launched in February 2021, Mosaic is the brainchild of insurance industry veterans Mitch Blaser and Mark Wheeler, who conceived the new model and now serve as co-CEOs.
With 40 years of industry experience, Blaser helped found Ironshore in Bermuda in 2006 after previous executive roles with Swiss Re and Marsh. He met Wheeler when Ironshore bought Pembroke Managing Agency, a company that Wheeler founded. Wheeler joined Mosaic in April 2021.
The name “Mosaic” was chosen for the company because it aims to combine the best “pieces” of the industry, making a whole that is greater than the sum of its parts, said Wheeler.