– USA, NY – Ambac Financial Group, Inc. (NYSE: AMBC), a financial services holding company, today announced the appointments of Kristi Matus and Michael Price to its Board of Directors, effective immediately.
“We are pleased to welcome Kristi Matus and Michael Price to Ambac’s Board of Directors. Their insurance, business, and leadership experience will be a tremendous asset to Ambac as we continue to enhance long-term shareholder value,” said Board Chairman Jeff Stein.
Kristi Matus will also join the Audit and Compensation committees, while Michael Price will serve on the Audit and Strategy committees.
About Kristi A. Matus
Ms. Matus has more than 30 years of insurance, risk management, and investment experience. Most recently, she was CFO and COO of Buckle Agency LLC. from 2020 through July 2022. She was also an Executive Advisor for Thomas H. Lee Partners L.P. from 2017 to 2020, advising the senior team within the healthcare IT portfolio on strategy, talent, and team integration before an acquisition. She previously served as EVP and CFAO of Athenahealth, Inc., a company partnering with healthcare organizations across the care continuum to drive clinical and financial results through technology, insight, and expertise. Before joining athenahealth, Ms. Matus served as EVP and Head of Government Services of Aetna, Inc., managing the Medicare, Medicaid, public and labor, and Federal employee health plans. Before Aetna, she held several senior leadership roles at United Services Automobile Association, including EVP and CFO. She began her career at Thrivent, where she held various financial and operational roles for over a decade.
Ms. Matus is currently a member of the Board of Directors of Equitable Holdings, Inc., Cerence, Inc., and AllianceBernstein Holdings, L.P.
About Michael D. Price
Mr. Price is the former President and CEO of Platinum Underwriters Holdings, Ltd., a position he held from 2005 until the company’s acquisition by RenaissanceRe Holdings Ltd. in 2015. Platinum Underwriters Holdings provided property and casualty reinsurance coverages to insurance and selected reinsurers worldwide. Before that, Mr. Price served briefly as Platinum’s COO and was President of Platinum US from 2002 until 2005. Mr. Price was the CUO of Platinum’s predecessor, the former reinsurance segment of The St. Paul Companies, Inc. Prior thereto; he was COO of Associated Aviation Underwriters Incorporated, a subsidiary of Global Aerospace Underwriting Managers Ltd., a leading global MGU of aviation insurance and risk management solutions. Earlier in his career, he held progressively senior roles within other property and casualty insurance companies.
Mr. Price is a Fellow of the Casualty Actuarial Society and holds the Financial Risk Manager designation of the Global Association of Risk Professionals. Mr. Price was a member of the Board of Directors of The Hanover Insurance Group, Inc., from July 2017 until May 2020.
About Ambac
Ambac Financial Group, Inc. is a financial services holding company headquartered in New York City. Ambac’s core business is a growing specialty P&C distribution and underwriting platform. Ambac also has a legacy financial guaranty business in the runoff. Ambac is committed to providing timely and accurate information to the investing public, consistent with our legal and regulatory obligations. To that end, we use our website to convey information about our businesses, including the anticipated release of quarterly financial results and quarterly financial, statistical, and business-related information.
For more information: https://www.ambac.com/
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