Ambac Financial Group, Inc. (NYSE: AMBC) ("Ambac"), an insurance holding company, today announced it has joined with Peter McKeegan to launch Tara Hill Insurance Services (“Tara Hill”), a program administrator specializing in Management and Professional Liability. Tara Hill will be part of Cirrata Group, Ambac’s insurance distribution division. McKeegan will serve as Tara Hill’s chief executive officer.

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Peter McKeegan (pictured) has partnered with Ambac to launch Tara Hill Insurance Services, a program administrator specializing in management and professional liability insurance. McKeegan will serve as Tara Hill's CEO. (Photo: Business Wire)

Tara Hill will develop an Excess & Surplus (E&S) portfolio with a focus on private Management Liability and Miscellaneous Professional Liability coverages for small to medium sized risks. Tara Hill provides E&S products distributed exclusively through wholesale brokers.

“Peter McKeegan has a stellar reputation and a top-notch track record in this space,” said Naveen Anand, president of Cirrata Group. “We are excited to support him and to leverage Cirrata’s infrastructure and expertise as he builds Tara Hill into a specialty program administrator.”

Prior to forming Tara Hill, McKeegan held leadership roles at Hallmark Financial, Ironshore, American Safety, Arch Insurance, and AIG in addition to starting new programs at ANV Global Services and Axcelera Specialty Risk.

“Tara Hill is the culmination of decades of underwriting experience,” McKeegan said. “I am thrilled to partner with Ambac’s Cirrata Group on this endeavor and thankful to be able to work with their experienced team to bring this highly customized product to market. The combination of Cirrata Group and the Tara Hill team provides us with strong momentum right out of the gate.”

About Ambac

Ambac Financial Group, Inc. (“Ambac”) is an insurance holding company headquartered in New York City. Ambac’s core business is a growing specialty P&C distribution and underwriting platform. Ambac’s common stock trades on the New York Stock Exchange under the symbol “AMBC”. For more information, please visit www.ambac.com.

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