Riverton’s MGA, Professionals’ Best, specialises in offering professional liability insurance programs to licensed architects, engineers, construction managers, and real estate professionals.
Additionally, the Riverton platform includes ALIA, a retail agency focused on placing professional liability coverage for real estate agents through various markets.
Claude LeBlanc, President and Chief Executive Officer of Ambac, expressed enthusiasm about the acquisition, stating, “We are excited to welcome Riverton to our growing portfolio of insurance distribution businesses. Our vision is to build a best-in-class property and casualty insurance distribution platform, and the addition of Riverton advances that goal.”
As part of the deal, Riverton will join Ambac’s insurance distribution division, Cirrata Group.
Naveen Anand, President of Cirrata Group, highlighted Riverton’s expertise in professional lines and looked forward to supporting their growth efforts. He said, “The Riverton team has deep roots in professional lines. We look forward to helping them build on the strong foundation they’ve already laid.”
Founded in 2017 by L. Lenny Waldhauser, Riverton boasts over three decades of experience in professional lines insurance with several industry-leading insurance underwriters. Commenting on the acquisition, Waldhauser, Riverton’s CEO, shared his belief that joining Ambac would accelerate growth while ensuring profitable results for carrier partners. He emphasized the benefits of the Cirrata platform, providing access to a full suite of business services and resources to support their expansion while maintaining strong underwriting selectivity.
Ambac Financial Group, Inc. is headquartered in New York City and operates as a financial services holding company. Its core business focuses on a growing specialty property and casualty distribution and underwriting platform, alongside its legacy financial guaranty business in runoff.
Ambac’s common stock is listed on the New York Stock Exchange under the symbol “AMBC”. The company remains committed to providing timely and accurate information to the investing public through its website, conveying information about its businesses, quarterly financial results, and other business-related updates.
For more information, please visit www.ambac.com.
