Ambac to acquire property & casualty managing general underwriter xchange; provides update on strategy

New york--(business wire)--ambac financial group, inc. (nyse: ambc) (“ambac'), a financial services holding company, today announced, consistent with its platform diversification strategy, that it has entered into an agreement to acquire 80% of the membership interests of each of xchange benefits, llc and xchange affinity underwriting agency, llc (collectively, “xchange”), subject to customary closing conditions. xchange, whose management principals will retain the remaining 20% of the company,
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