Fri, Nov 22 2024
With the recent acceptance of Macquarie Insurance Facility as a Lloyd's coverholder and the subsequent establishment of a binding authority agreement with Mosaic Insurance, the company plans to improve its insurance products.
The company has obtained Lloyd's coverholder status, which allows it to underwrite insurance contracts on behalf of partners and access Lloyd's marketplace of insurers.
It has also declared a historic alliance with the international specialty insurer Mosaic, which signifies its entry into the delegated authority market for Transactional Liability Insurance writing.
The market entry is a calculated move that fits in with Macquarie's larger plan to use binding authority agreements to increase its premium volume through its Managing General Agent.
This program is an example of Macquarie's dedication to provide deal teams and portfolio firms all-inclusive insurance solutions.
"Over more than a decade, we have drawn on our deep relationships with financial sponsors, insurers, and brokers to unlock solutions in the insurance market," stated Nick Wilski, Global Head of Macquarie Insurance Facility. Our collaboration with Mosaic and our status as Lloyd's coverholders present an opportunity that will propel us forward and position us as a top supplier of insurance solutions to deal teams and portfolio businesses.
"We're delighted to partner with Macquarie to support its successful application as a Lloyd's coverholder and provide capacity in a critical line of business for both firms," said Samuel Whiteman, Head of International Transaction Liability at Mosaic. Macquarie's enduring dedication to the effective implementation of transactional insurance is in line with Mosaic's objective of leading the worldwide market and offering significant solutions in the industry. This collaboration demonstrates our ongoing development and commitment to the M&A industry.
Since its formation in 2021, transactional liability has been a fundamental component of Mosaic's model and specialist approach, as attested to by the company's founding leaders' extensive track experience.
The business has already invested $12.5 billion, or a sizable sum, in the industry.
One of the biggest insurance aggregators in the world, Macquarie oversees yearly premium spend from participating infrastructure, energy, real estate, and private equity organizations totaling over $1.6 billion.
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