Mosaic consolidates Singapore and Dubai hubs in underwriting restructure

Mosaic Insurance has reorganised its Singapore and Dubai underwriting platforms, consolidating operations into a single hub as part of a broader effort to optimise its global structure.

Under the changes, Benn Wilson (pictured), CEO of Mosaic Singapore, will relocate to Dubai to support both Middle East and Asia business from one centre.

The move effectively centralises underwriting activity for the two regions, Mosaic said, with Singapore transitioning away from writing new transactional liability business.

Tim Glover, chief underwriting officer at Mosaic, said the restructure reflects a strategic realignment of resources.

“Bringing Benn’s expertise to our Dubai platform is part of a broader optimization of our global underwriting network, and ensures our structure can support strong, long-term growth,” he said.

“The move enables the firm to better align our structure with regulatory and capital considerations and refocus resources where we see the greatest opportunity for our clients, brokers, and partners across both regions,” added Glover.

Mosaic opened its Singapore office in March 2023 to write transactional liability business across Asia-Pacific, but said structural and capital considerations have driven the decision to close local underwriting operations.

The Singapore entity will remain in place to service existing policies, but will no longer accept new submissions directly.

Instead, new business will be channelled through Mosaic’s broader network, including offices in the US, UK, UAE, Europe, Canada and Bermuda.

William Monat, global head of transactional liability at Mosaic, said the move does not signal a retreat from the region.

“The reorganization does not diminish our confidence in the great opportunities across the region or in the transactional liability product line—indeed, we remain fully committed to the global M&A liability marketplace and we expect growth, particularly around tax-liability business,” he said.

“We also want our broker partners and clients to know how much we value the relationships and business we have built together in the region,” said Monat.

Mosaic said it is working with Lloyd’s Asia to ensure an orderly wind-down of Singapore underwriting operations, with no disruption to clients.

The restructure comes as Mosaic continues to expand its specialty platform globally, spanning lines including transactional liability, political risk, cyber and environmental liability. The insurer operates a hybrid model, with its own underwriting capital deployed alongside capacity providers.

“We are committed to honoring our responsibilities to our policyholders and broker partners, and we will work hard to maintain our service standards across the life of our existing Singapore portfolio,” Glover added.