Xchange Benefits Launches Tennessee Captive Insurance Company, Distribution Re
January 06 2023 - 8:30AM
Business Wire
Xchange Benefits LLC, a managing general underwriter owned by
Ambac Financial Group, Inc. (NYSE: AMBC), today announced it has
launched a protected cell company named Distribution Re. The new
entity, which operates under the authority of the State of
Tennessee Insurance Department, will insure accident & health
risks mainly in the form of high deductible medical stop loss
plans. Distribution Re, wholly owned by Xchange Benefits, will be
run by captive manager Captive Planning Associates, LLC, located in
New Jersey.
“Being able to make captive cells available to our employer stop
loss clients is an important addition to our capabilities at
Xchange Benefits,” said Peter McGuire, CEO of Xchange Beneftis.
“The use of captives in the employer stop loss industry is an
exciting area of growth. We look forward to talking with all our
incredible clients about their potential captive needs. We invite
clients to discuss how Distribution Re may be of use to them with
their Xchange Benefits’ contacts.”
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 on the web at
www.xbllc.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20230106005044/en/
Investors Charles Sebaski Managing Director, Investor
Relations csebaski@ambac.com
Media Kate Smith Director, Corporate Communications
ksmith@ambac.com
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