Global specialty insurer Mosaic is expanding into the Canadian market and is opening an office in Toronto.
The insurer has named Ian Fraser as president of Mosaic Canada. Fraser has 20 years of industry experience in specialty and is the former head of cyber, technology & professional lines at Sovereign Insurance.
“I’m thrilled to be joining the global Mosaic team with the mandate of setting up roots and leading its Canadian business,” said Fraser.
“This is an exciting time and a unique opportunity. The marketplace has struggled in recent years with performance and capacity in the FI, PL, and cyber lines of business, and the Mosaic proposition will bring a refreshing and much-needed value-add to the Canadian marketplace.”
Golden Gate Capital-backed Mosaic launched in February 2021, comprising of Lloyd’s Syndicate 1609 and worldwide agencies and boasting a digitized operating model.
Its core business lines in Canada will include professional liability, cyber, financial institutions, and transactional liability.
The business has bases in Bermuda, London, New York, and Chicago, making the Toronto office its fifth.
“We are very excited about the launch of Mosaic Canada under Ian Fraser’s leadership and the tremendous opportunity we to have to distribute syndicated capacity directly in the Canadian market in the four classes we have selected,” said Mosaic underwriting director David White.
“This is part of our ongoing strategy to build out broader geographical market access for our products.”