Thursday, November 10, 2022
HomeInsuranceAmbac swoops for industrial auto, marine insurance coverage companies

Ambac swoops for industrial auto, marine insurance coverage companies


“We’re very happy so as to add All Trans and Capability Marine to our rising specialty P&C platform,” mentioned Claude LeBlanc (pictured above), Ambac CEO. “These acquisitions add roughly $60 million of premium positioned to our insurance coverage distribution division, Cirrata Group. Furthermore, we’re happy so as to add Bob Lull and his confirmed management group to our rising group of Cirrata companions.

“By becoming a member of Ambac’s Cirrata Group, we’re positioning our enterprise for continued progress,” mentioned Robert Lull, chairman of All Trans and Capability Marine. “Cirrata may give us entry to a full suite of enterprise companies and assets that can help and allow future growth.”

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“The All Trans group is happy to hitch Ambac’s Cirrata platform,” mentioned Matt Simnor, president and chief underwriting officer of All Trans. “Beneath Ambac’s possession, we are able to proceed to give attention to increasing our strong operations within the brokerage of transportation-based insurance coverage merchandise whereas sustaining our prudent method to underwriting.”

“The Ambac platform will present Capability Marine with the underlying help to proceed doing what we do finest – fixing insurance coverage and reinsurance challenges for our clients,” mentioned Walter Wynne, president of Capability Marine.

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