Ambac Financial Group, Inc. announced the appointment of Kristi A. Matus and Michael D. Price as members of its Board of Directors, effective June 22, 2023. Ms. Matus will be a member of the Board’s Audit and Compensation committees, while Mr. Price will be a member of the Audit and Strategy committees. Ms. Matus has more than 30 years of insurance, risk management, and investment experience.

Most recently she was the Chief Financial Officer and Chief Operating Officer 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 prior to an acquisition.

She previously served as Executive Vice President and Chief Financial & Administrative Officer of athenahealth, Inc. Prior to joining athenahealth, Ms. Matus served as Executive Vice President and Head of Government Services of Aetna, Inc. Prior to Aetna, she held several senior leadership roles at United Services Automobile Association (USAA), including Executive Vice President and Chief Financial Officer. 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. Mr. Price is former President and Chief Executive Officer 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 select reinsurers worldwide. Prior to that, Mr. Price served briefly as Platinum’s Chief Operating Officer, and was President of Platinum US from 2002 until 2005. Mr. Price was Chief Underwriting Officer of Platinum’s predecessor, the former reinsurance segment of The St.

Paul Companies, Inc. Prior thereto, he was Chief Operating Officer of Associated Aviation Underwriters Incorporated. Earlier in his career, he held progressively senior roles within other companies in the property and casualty insurance industry. 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.