Macquarie Insurance Facility has formed a partnership with specialty insurer Mosaic after being approved as a Lloyd’s coverholder.  

The partnership with Mosaic will enable Macquarie to write transactional liability insurance on a delegated authority basis.  

This insurance is crucial for M&A, protecting buyers from any breaches of representations or warranties by sellers. 

As a newly appointed coverholder, Macquarie can now access the Lloyd’s marketplace and underwrite insurance contracts on behalf of partners.  

Macquarie said: “The new agreement gives Macquarie follow form binding authority on behalf of Mosaic Syndicates 1609 and 5399, enabling it to write transactional liability insurance using capacity provided by Mosaic.” 

Macquarie, as an insurance aggregator, manages approximately $1.6bn (A$2.49bn) in annual premium spend from its clients in various sectors including private equity and real estate.  

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Macquarie Insurance Facility global head Nick Wilski said: “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.  

“The opportunity provided by our Lloyd’s coverholder status and partnership with Mosaic will help us go further, accelerating our efforts to become a leading provider of insurance solutions to deal teams and portfolio companies.” 

Mosaic head of international transaction liability Samuel Whiteman said: “We are 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.  

“Macquarie’s long-term commitment to successfully deploying transactional insurance aligns well with Mosaic’s mission to be a lead global market providing meaningful solutions in the sector. This partnership highlights our continued growth and investment in the M&A sphere.” 

Mosaic, since its inception in 2021, has focused on transactional liability as a key part of its specialty strategy. The insurer has allocated around $12.5bn in capacity to this sector. 

Mosaic’s portfolio also includes other specialty lines such as cyber, environmental liability and political risks.  

Last month, Mosaic introduced arbitration award default insurance in the US market, with a capacity of $65m.  

This coverage aims to protect against sovereign states’ non-payment risks following investment treaty breaches.