Xchange Benefits, a managing general underwriter owned by Ambac Financial Group, has launched a protected cell company named Distribution Re. The new entity, which operates under the authority of the State of Tennessee Insurance Department, will insure accident and health risks, mainly in the form of high deductible medical stop loss plans.
Distribution Re, wholly owned by Xchange Benefits, will be run by captive manager Captive Planning Associates, located in New Jersey.
Peter McGuire, CEO of Xchange Benefits, says: “Being able to make captive cells available to our employer stop loss clients is an important addition to our capabilities at 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 clients about their potential captive needs and invite clients to discuss how Distribution Re may be of use to them, with their Xchange Benefits’ contacts.”
