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Ambac Names John Tatum Business Development Officer for Cirrata Group
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Ambac Financial Group (NYSE: AMBC) has appointed John Tatum as Managing Director and Business Development Officer for its insurance distribution division, Cirrata Group. This new role aims to expand the company’s managing general agencies (MGAs) and managing general underwriters (MGUs) platform. Tatum brings over 25 years of experience, previously serving as Executive Vice President at AXIS Insurance. Cirrata Group already includes four MGAs/MGUs, three established in 2022, with plans to launch a second de novo MGA focusing on the construction industry. This aligns with Ambac's strategy to solidify its specialty property and casualty insurance platform.
Positive
Appointment of experienced executive John Tatum, which may enhance business development.
Expansion plans for Cirrata Group, indicating growth potential in the insurance sector.
Negative
None.
Newly created position established to expand Ambac’s insurance distribution division
NEW YORK--(BUSINESS WIRE)--
Ambac Financial Group (NYSE: AMBC), a financial services holding company, today announced the appointment of John Tatum as a Managing Director and Business Development Officer for its insurance distribution division, Cirrata Group. In this position, he will be responsible for expanding the company’s platform of managing general agencies (MGAs) and managing general underwriters (MGUs). He also will launch Cirrata’s second de novo MGA, which will focus on the construction industry. Tatum will report to R. Sharon Smith, Chief of Staff.
John Tatum (pictured) joined Ambac as a Managing Director and Business Development Officer for its insurance distribution platform, Cirrata Group. (Photo: Business Wire)
Cirrata Group currently includes four MGAs/MGUs, three of which were added in 2022.
“Ambac’s vision is to build a leading specialty property and casualty insurance platform, and expanding Cirrata Group is a critical component of that,” Smith said. “John’s appointment to this newly created position will enable us to further accelerate the growth of Cirrata. John has a wealth of program insurance knowledge and extensive industry relationships, which make him ideal for the role.”
Tatum, who is based in Chicago, has more than 25 years of experience in the insurance industry. For the past six years, he was Executive Vice President and Head of U.S. Programs for AXIS, where he was responsible for all programs and binding authorities for AXIS Insurance across the U.S. market. Prior to that, he spent 15 years at CNA Financial Corporation, rising to Senior Vice President of CNA’s Middle Market, Construction and Large Casualty Business Units. As part of his responsibilities, he led CNA's Commercial Affiliation Marketing Programs for more than 10 years.
Tatum earned a bachelor’s degree in economics from Princeton University and a Master of Business Administration from Cornell University. He also completed the Insurance Executive Development Program at the Wharton School of the University of Pennsylvania.
About Ambac
Ambac Financial Group, Inc. (“Ambac” or “AFG”) is a financial services holding company headquartered in New York City. Ambac’s core business is a growing specialty P&C distribution and underwriting platform. Ambac also has a legacy financial guaranty business in runoff. Ambac’s common stock trades on the New York Stock Exchange under the symbol “AMBC”. Ambac is committed to providing timely and accurate information to the investing public, consistent with our legal and regulatory obligations. To that end, we use our website to convey information about our businesses, including the anticipated release of quarterly financial results, quarterly financial, statistical and business-related information. For more information, please go to www.ambac.com.
