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Ambac To Acquire Property & Casualty Managing General Underwriter Xchange; Provides Update on Strategy - Press Release

Ambac To Acquire Property & Casualty Managing General Underwriter Xchange; Provides Update on Strategy
NEW YORK (Business Wire) Ambac Financial Group, Inc. (NYSE: AMBC) (“Ambac’), a financial services holding company, today announced, consistent with its platform diversification strategy, that it has entered into an agreement to acquire 80% of the membership interests of each of Xchange Benefits, LLC and Xchange Affinity Underwriting Agency, LLC (collectively, “Xchange”), subject to customary closing conditions. Xchange, whose management principals will retain the remaining 20% of the company, will continue operating under its existing brand as it seeks to expand its underwriting partnership with its key carriers in connection with its planned growth strategy. ....

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Ambac To Acquire 80 Percent Stake In Xchange

Ambac To Acquire 80 Percent Stake In Xchange
Xchange is a property and casualty Managing General Underwriter or MGU, specializing in accident and health insurance.
Xchange, whose management principals will retain the remaining 20 percent of the company, will continue operating under its existing brand as it seeks to expand its underwriting partnership with its key carriers in connection with its planned growth strategy.
Ambac expects the acquisition will enable Xchange to realize its significant growth potential through geographic and product diversification, helping accelerate its strategic plans.
Ambac s Pillar II strategy is focused on fee-based MGA and MGU businesses. The company noted that the acquisition of Xchange marks the first step towards the development of Pillar II, which it expects to expand in the coming year via acquisitions and organic growth platforms. ....

United States , Exchange Benefits , Ambac Financial Group Inc , Xchange Affinity Underwriting Agency , Everspan Group , Financial Group , Managing General Underwriter , ஒன்றுபட்டது மாநிலங்களில் , க்ஷ்சங்கே நன்மைகள் , நிதி குழு , நிர்வகித்தல் ஜநரல் அண்டர்ரைட்டர் ,