Ambac announces partnership with Pivix

Ambac Financial Group has partnered with Pivix Specialty Insurance Services, an MGA focused on the excess and surplus lines market that was launched last month.

Pivix offers property and casualty coverages for targeted segments, including the sizeable SME segment. It was founded by Mike Miller, Ken Levine, Joe Griffith, and Sandy Vertuno—all alumni of Nationwide.

Ambac’s vision is to build a premier insurance distribution platform by acquiring successful MGAs and partnering with top-tier underwriting talent to launch de novo venture. Its distribution division, Cirrata, includes majority-owned MGAs and MGUs.

“We are thrilled that Mike Miller and his team have chosen to partner with Ambac. Our goal is to be the premier destination for MGAs and underwriting talent, and Mike is among the best in the industry. His pedigree and reputation in the E&S market are unparalleled. We are excited to support him and his team in scaling Pivix.” – Claude LeBlanc, Ambac CEO.

“We are pleased to reach this milestone in the development of Pivix. We are very pleased to have Ambac as a partner. That positions us very well to grow our company and to meet the needs of the wholesale distribution system. In addition, we are able to partner with carriers and deliver solutions to meet the unique needs of insureds in the E&S marketplace.” – Pivix CEO Mike Miller.

“We look forward to growing our partnership with Mike and the Pivix team. They have the underwriting expertise, broker relationships and technology to make Pivix a formidable player in the E&S market.” – Naveen Anand, president of Cirrata.