Mosaic as an art form has a long, rich history starting in Mesopotamia in the third in the third millennium BC. It involves positioning different types of materials such as pebbles, stones, shells, glass, tiles or “tesserae” together to form a pattern or picture.

Venture through Monte Carlo and you’ll find plenty of mosaics in places like Saint Nicholas Cathedral, the Oceanographic Museum and the Hexa Grace at the Casino. So, what do mosaics have to do with reinsurance?

Only a few years ago, graphic representations of reinsurance programmes were single monochromatic towers of capital.

Today, in a rapidly growing world of risk transfer solutions, the most efficient reinsurance programmes resemble mosaics – a blend of structures, risk-bearing vehicles and capital sources that together comprise something greater than the sum of its parts.

Their positioning, size and features represent myriad functions and goals. Risk profiles and appetites vary, fostering a fluid and competitive marketplace.