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Bermuda companies team up to launch fund-insurance platform

Written by Merlin Beyts - ITC DIA Europe on Jan 10, 2023

What’s happening?

Bermuda’s Apex Group and Mosaic Insurance have launched Apex Protect in partnership with Aon. The newly-created company will offer specialty directors and officers for funds. It will now launch improved D&O insurance for funds taking ESG specifications into account when assessing risk.

As a result, we’re likely to see faster turnaround times with pricing for new or existing funds being much quicker. Bespoke policy wording and increased pricing leverage are also on offer. A key point is that improved adherence to ESG regulations will result in improved financial outcomes from an insurance perspective.

What the key players said

“We are excited to be partnering with Mosaic Insurance to offer Apex Protect, an innovative solution capable of linking ESG ratings with specialised underwriting for our clients through Mosaic’s bespoke digital platform,” said David Carrick, CFO, Apex Group. “Apex Protect is a powerful proposition, combining Mosaic’s experienced underwriting team and broker partners, with Apex Group’s market-leading ESG services to help identify and reduce financial and non-financial risks across funds.”

Liam Jones, Strategic Growth Officer at Mosaic said, “We’re proud to partner with Apex Group on this innovative offering that showcases what a true risk-first insurtech can do in this space. This is a ground-breaking approach that combines our revolutionary technology, market-leading D&O coverage, and claims services informed by ever-important ESG risk understanding that allows objective client differentiation. We’re thrilled Apex clients will be the first to benefit from this capability.”

“Reducing the frictional burden and cost whilst increasing the transparency of purchasing fund-level D&O insurance is an important step towards driving innovation in this industry for clients,” said Christine Williams, Global Specialty Product Leader, Aon. “This is an exciting step in this journey, and we are thrilled to be partnering with both Apex and Mosaic to deliver this innovative solution.”


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