Xchange Benefits Appoints Christopher LaDelfa to Lead Captive Solutions Group

Rhea-AI Summary

Ambac Financial Group (NYSE: AMBC) has appointed Christopher LaDelfa as Senior Vice President and head of its new Captive Solutions unit at Xchange Benefits LLC. LaDelfa, who brings nearly 20 years of experience in the stop loss industry, will lead initiatives to grow this segment using the company's protected cell company, Distribution Re, which was launched in January and primarily insures accident and health risks. The captive is located in Tennessee. CEO Peter McGuire expressed confidence in LaDelfa's ability to enhance Xchange's operations.

Positive

• Addition of experienced leadership with nearly 20 years in the stop loss industry.
• Creation of a new division (Captive Solutions) expected to drive growth.
• Launch of Distribution Re, which targets high deductible medical stop-loss plans.

Negative

• None.

ARMONK, N.Y.--(BUSINESS WIRE)-- Xchange Benefits LLC, a managing general underwriter owned by Ambac Financial Group, Inc. (NYSE: AMBC), today announced the appointment of Christopher LaDelfa as Senior Vice President and head of its Captive Solutions unit, a newly-created division that will utilize Xchange’s wholly owned protected cell company, Distribution Re. LaDelfa will be based in New Jersey.

Launched in January, Distribution Re insures accident & health risks mainly in the form of high deductible medical stop loss plans. The captive is domiciled in Tennessee.

“I am so pleased that Chris with his nearly 20 years of stop loss industry experience, integrity and reputation has agreed to join the Xchange team,” said Peter McGuire, CEO of Xchange Benefits. “Chris has been deeply immersed in the delivery of captive solutions for a number of years and so is more than equipped to grow this important capability for Xchange.”

LaDelfa spent the last five years at Berkley Accident and Health, where he was director of program management. Prior to that he was with Arthur J. Gallagher & Co. for 14 years.

"I am honored to join the Xchange leadership team and leverage my unique employee benefits and group captive experience to help grow and support the captive segment at XB. Peter McGuire and his team are proven professionals and Xchange is well positioned for continued growth and success. I am very excited to get started,” LaDelfa said.

About Xchange Benefits

Founded in 2010, Xchange Benefits, LLC is a diverse group of business units focused on the global insurance and reinsurance industry. Led by a team who have industry leading experience, Xchange Benefits underwrites, consults, creates products, creates retail distribution, structures risk, transacts reinsurance, advises on capital deployment and most importantly, listens to its clients. Xchange Benefits is headquartered in Armonk, N.Y., and has an office in Indianapolis. For more information, visit Xchange Benefits at www.xbllc.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230307005193/en/

Investors:

Charles Sebaski

Managing Director, Investor Relations

csebaski@ambac.com



Media:

Kate Smith

Director, Corporate Communications

ksmith@ambac.com

Source: Ambac Financial Group. Inc.

FAQ

Who is Christopher LaDelfa, and what is his role at AMBC?

Christopher LaDelfa is the newly appointed Senior Vice President and head of the Captive Solutions unit at Xchange Benefits, a subsidiary of Ambac Financial Group (NYSE: AMBC).

What is the purpose of the Captive Solutions unit created by AMBC?

The Captive Solutions unit aims to grow the captive segment of Xchange Benefits, primarily utilizing the protected cell company, Distribution Re, to insure accident and health risks.

When was Distribution Re launched, and what does it focus on?

Distribution Re was launched in January and focuses on insuring accident and health risks through high deductible medical stop-loss plans.

How does LaDelfa's experience contribute to AMBC's future?

LaDelfa's nearly 20 years of experience in the stop loss industry and expertise in captive solutions are expected to strengthen Xchange Benefits' capabilities and drive growth.