Ambac Financial Group, a financial services holding company, has appointed John Tatum to the newly created position of Managing Director and Business Development Officer for its insurance distribution division, Cirrata Group.
In his new position, Tatum will be responsible for expanding the company’s platform of managing general agencies (MGAs) and managing general underwriters (MGUs). He also will launch Cirrata’s second de novo MGA, which will focus on the construction industry.
Cirrata Group currently includes four MGAs/MGUs, three of which were added in 2022.
Tatum will be based in Chicago and will report to R. Sharon Smith, Chief of Staff, who commented: “Ambac’s vision is to build a leading specialty property and casualty insurance platform, and expanding Cirrata Group is a critical component of that.
“John’s appointment to this newly created position will enable us to further accelerate the growth of Cirrata. John has a wealth of program insurance knowledge and extensive industry relationships, which make him ideal for the role.”
Tatum has more than 25 years of experience in the insurance industry. For the past six years, he was Executive Vice President and Head of U.S. Programs for AXIS, where he was responsible for all programs and binding authorities for AXIS Insurance across the U.S. market.
Prior to that, he spent 15 years at CNA Financial Corporation, rising to Senior Vice President of CNA’s Middle Market, Construction and Large Casualty Business Units. As part of his responsibilities, he led CNA’s Commercial Affiliation Marketing Programs for more than ten years.
