Ambac Financial Group Inc. on Tuesday said it has named former Axis Capital Holdings Ltd. executive John Tatum as president and business development officer of its insurance distribution division, Cirrata Group.
Mr. Tatum will be responsible for expanding Ambac’s general agency management and general insurer management platform. He will also launch Cirrata’s second new MGA which will focus on the construction industry, it said in a statement. The role is newly created, according to an email from a spokeswoman.
He is based in Chicago and reports to R. Sharon Smith, Chief of Staff.
Tatum was most recently Vice President and Head of US Programs for Axis, where he was responsible for all programs and binding authorities for Axis Insurance throughout the US market.
Headquartered in New York, Ambac is a financial services holding company whose core business is a growing specialty property/casualty distribution and underwriting platform, the statement said.