LONDON 29th April 2025:

Brace UK & Europe (“Brace”), a multi-line and alternative risk specialist underwriter backed by Beat Capital Partners, a subsidiary of Ambac Financial Group, Inc. (NYSE: AMBC), today announces the appointment of Amie Townsend as Senior Underwriter, effective 29^th April. She will be based in London and report to Martin McBrearty, Head of Brace UK & Europe.

Townsend will be responsible for developing Brace’s MGA relationships across the UK and Europe. She will also handle the management of existing client accounts, whilst assuming control of underwriting decisions and business management within Brace’s alternative risk portfolio.

Townsend brings more than a decade of experience in the industry, working exclusively for Hiscox.  During her Hiscox tenure, Townsend held a variety of underwriting roles across various markets including aviation, aerospace and political violence teams, with her most recent role being on the product recall team. This breadth of experience has provided her an expansive market view and strong understanding of a variety of risks.

McBrearty said: “Brace believes in building a team with high quality underwriting talent, and the addition of Amie is emblematic of that belief. Amie’s broad understanding of the market and wealth of experience will provide our UK and Europe team’s capabilities with a fresh perspective. I look forward to welcoming her to the team.”

Townsend said: “Brace’s open-minded approach to specialty, niche MGA business made the decision to join the team an easy one. I look forward to working with Martin and the rest of the team as we continue to build new and existing MGA relationships, delivering long term collaborative success with our partners.”

ENDS

CONTACTS

Investors:

Charles J. Sebaski Managing Director, Investor Relations csebaski@ambac.com

Media:

David Haggie, Haggie Partners, david@haggiepartners.com +44 2075624444

Olivia Thomson, Haggie Partners, Olivia.Thomson@haggiepartners.com +44 2075624444 

Kate Smith, Director, Corporate Communications, ksmith@ambac.com

About Brace Underwriting

Brace Underwriting Limited was formed to meet the global demand for tailored insurance products and to stand shoulder to shoulder with partners who want to transform risk into opportunity.  Brace specializes in Alternative Risk binders, focusing on specialist MGAs that come to market with a differentiated product, an alternative distribution method, or expertise in a niche. Based in Lloyd’s, Brace is part of Beat Capital Partners, writing consortia operated by Beat Syndicate 4242, an established Lloyd’s syndicate benefiting from Lloyd’s A+ rating.

About Beat Capital Partners  

Beat Capital Partners is a London-based incubator of underwriting franchises which offers select individuals and teams’ infrastructure, risk capital, and highly rated paper, alongside experienced guidance and support from its seasoned management team. Beat has launched a broad portfolio of specialty underwriting businesses since its founding in 2017 and services Lloyd’s Syndicates 4242/1416. Beat is a subsidiary of Ambac Financial Group, Inc. (NYSE: AMBC).   For more information, see www.beatcapital.com.

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.