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Mosaic Insurance Enters Strategic Partnership With SiriusPoint
- Client News
- March 10, 2022
Paul, Weiss is advising global specialty insurer Mosaic Insurance, a portfolio company of Golden Gate Private Equity, in its strategic partnership with SiriusPoint Ltd., a Bermuda-based global insurer and reinsurer. Under an agreement, Mosaic will acquire and modernize SiriusPoint’s Lloyd’s managing agency, Sirius International Managing Agency (SIMA), subject to Lloyd’s and regulatory approvals, and SIMA will continue to provide services to a SiriusPoint subsidiary, Syndicate 1945, at Lloyd’s.
For its part, SiriusPoint will invest in Mosaic to support growth, provide underwriting capacity to Mosaic’s syndicated capital program and provide access to global licenses and infrastructure through a fronting arrangement.
The Paul, Weiss team includes corporate partner Jeremy Veit.