Specialty insurer Mosaic Insurance coverage has named Toby Smith as Americas CEO, efficient July 23.
Primarily based in New York, Smith will grow to be a member of Mosaic’s management staff and will likely be chargeable for spearheading market engagement and worthwhile development throughout Canada, the USA, and the broader Americas area, Mosaic mentioned in a press launch final week.
“He will likely be instrumental in persevering with our development trajectory and accelerating our strategic ambitions throughout specialty product traces globally and within the crucial U.S. area,” says Mosaic’s co-CEO Mitch Blaser.
The worldwide specialty insurer first opened a Toronto office in July 2022 and now serves shoppers throughout Canada in 5 extremely technical specialty traces of enterprise – cyber, transactional legal responsibility, monetary establishments, skilled legal responsibility and environmental legal responsibility.
Its expansion across Canada last year in these 5 product traces supplies a novel hybrid underwriting mannequin that enables the insurer to take a Lloyd’s syndicated approach locally in Canada, executives informed Canadian Underwriter on the time. The mannequin includes a Lloyd’s syndicate that takes the lead line on all of the enterprise written. Along with deploying its personal capability, Mosaic additionally has different Lloyd’s syndicates, insurers and reinsurers offering underwriting capability quite than reinsurance capability.
“Our distinctive underwriting company construction and syndicated merchandise are delivering an affect throughout world markets, and the appointment of a high-caliber chief like Toby demonstrates our dedication to driving additional worthwhile growth by way of the Americas,” says co-CEO Mark Wheeler within the launch. “As we collect momentum, he’s the fitting individual on the proper time to scale up our enterprise and assist us seize the good alternatives forward, and we sit up for working with him once more.”
In his position, Smith will direct new product improvement and oversee Americas-focused traces of enterprise, together with the corporate’s three largest divisions — transactional legal responsibility, cyber, and environmental legal responsibility.
Smith brings greater than 20 years’ expertise within the specialty insurance coverage business, most just lately as chief underwriting officer, North America specialty traces, for Liberty Mutual. He beforehand labored with Mosaic’s management at Ironshore Inc. from 2009, launching its environmental enterprise. He held varied positions, together with president of environmental and president of E&S (extra and surplus) casualty.
Smith started his profession at AIG. Previous to transferring to underwriting, he managed a staff in its environmental claims and protection unit.
Mosaic launched in February 2021. In the present day, it has near 180 staff in seven international locations, with three of its places of work — Toronto, New York and Chicago — in North America.
