Xchange Benefits, a managing general underwriter (MGU) owned by Ambac Financial Group, has established a protected cell company named Distribution Re.
The PCC, which is domiciled in Tennessee, will insure accident and health risks mainly in the form of high deductible medical stop loss plans.
Distribution Re will be run by New Jersey-based captive manager, Captive Planning Associates.
“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 Benefits.
“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.”
Xchange Benefits is headquartered in Armonk, New York and was founded in 2010. It has a diverse group of business units focused on the global insurance and reinsurance industry.