Macquarie Insurance coverage Facility has fashioned a partnership with specialty insurer Mosaic after being authorized as a Lloyd’s coverholder.
The partnership with Mosaic will allow Macquarie to write down transactional legal responsibility insurance coverage on a delegated authority foundation.
This insurance coverage is essential for M&A, defending patrons from any breaches of representations or warranties by sellers.
As a newly appointed coverholder, Macquarie can now entry the Lloyd’s market and underwrite insurance coverage contracts on behalf of companions.
Macquarie stated: “The brand new settlement offers Macquarie comply with type binding authority on behalf of Mosaic Syndicates 1609 and 5399, enabling it to write down transactional legal responsibility insurance coverage utilizing capability offered by Mosaic.”
Macquarie, as an insurance coverage aggregator, manages roughly $1.6bn (A$2.49bn) in annual premium spend from its purchasers in varied sectors together with personal fairness and actual property.
Entry probably the most complete Firm Profiles
available on the market, powered by GlobalData. Save hours of analysis. Acquire aggressive edge.
Firm Profile – free
pattern
Thanks!
Your obtain electronic mail will arrive shortly
We’re assured in regards to the
distinctive
high quality of our Firm Profiles. Nonetheless, we would like you to take advantage of
useful
choice for your small business, so we provide a free pattern you can obtain by
submitting the beneath type
By GlobalData
Macquarie Insurance coverage Facility world head Nick Wilski stated: “Over greater than a decade, we’ve got drawn on our deep relationships with monetary sponsors, insurers and brokers to unlock options within the insurance coverage market.
“The chance offered by our Lloyd’s coverholder standing and partnership with Mosaic will assist us go additional, accelerating our efforts to turn into a number one supplier of insurance coverage options to deal groups and portfolio corporations.”
Mosaic head of worldwide transaction legal responsibility Samuel Whiteman stated: “We’re delighted to companion with Macquarie to assist its profitable software as a Lloyd’s coverholder and supply capability in a important line of enterprise for each companies.
“Macquarie’s long-term dedication to efficiently deploying transactional insurance coverage aligns effectively with Mosaic’s mission to be a lead world market offering significant options within the sector. This partnership highlights our continued progress and funding within the M&A sphere.”
Mosaic, since its inception in 2021, has targeted on transactional legal responsibility as a key a part of its specialty technique. The insurer has allotted round $12.5bn in capability to this sector.
Mosaic’s portfolio additionally consists of different specialty strains equivalent to cyber, environmental legal responsibility and political dangers.
Final month, Mosaic launched arbitration award default insurance coverage within the US market, with a capability of $65m.
This protection goals to guard in opposition to sovereign states’ non-payment dangers following funding treaty breaches.
