Ambac hires from Axis for distribution division role

John Tatum

Ambac Financial Group Inc. on Tuesday said it has named former Axis Capital Holdings Ltd. executive John Tatum as a managing director and business development officer for its insurance distribution division, Cirrata Group.

Mr. Tatum will be responsible for expanding Ambac’s platform of managing general agencies and managing general underwriters. He also will launch Cirrata’s second new MGA that will focus on the construction industry, a statement said. 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.

Mr. Tatum most recently 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.

Ambac, headquartered in New York, is a financial services holding company whose core business is a growing specialty property/casualty distribution and underwriting platform, the statement said.