E&S MGA Pivix Launches Brokerage Division Led by Michael Gramm

SCOTTSDALE, Ariz., AUGUST 19, 2025 - Pivix Specialty Insurance Services Inc. (“Pivix”), an excess and surplus focused managing general agent distributing exclusively through wholesale brokers,today announced the launch of a brokerage division, which will be led by 20-year insurance industry veteran Michael Gramm. Gramm, who joined Pivix as Senior Vice President and Chief Underwriting Officer - Brokerage, will be responsible for building out a business unit that underwrites brokered accounts.

Pivix, which is backed by Ambac Financial Group, Inc. (NYSE: AMBC), entered the market last fall with a contract binding program that targets small commercial property and general liability risks. By contrast, the brokerage unit will focus on larger and more complex casualty risks. All Pivix products are written on an E&S basis and delivered exclusively through wholesale channels.

"Since Day One, our vision was to build an E&S platform with two underwriting prongs—contract binding for SME and brokerage for larger accounts,” Mike Miller, President and Chief Executive Officer of Pivix, said. “Our binding authority facility has had great success so far. We have similarly high expectations for the brokerage program, and we look forward to working with Mike Gramm, as well as our carrier and wholesale partners, in continuing to build and develop these programs."

Gramm previously was Senior Vice President of Futuristic Underwriters, which he helped launch in 2023. He also had executive-level casualty underwriting responsibilities at Hallmark, Navigators, and XL Catlin.

"Mike is an experienced E&S leader and a top-notch underwriter,” Miller said. “He has deep underwriting expertise and previous experience building an MGA, which positions him perfectly for this role. We are excited to have him on the team."

Gramm added, "I am thrilled to be part of Pivix and excited for the opportunity to help build a platform to underwrite E&S brokerage business produced through key wholesalers. We anticipate developing various casualty and property brokerage programs over time and expect to announce our first program shortly."

About Pivix

Pivix Specialty Insurance Services Inc. (“Pivix”) is a managing general agent specializing in excess & surplus (E&S) casualty and property lines distributed exclusively through wholesale brokers. Headquartered in Scottsdale, AZ, Pivix was founded by industry veteran Mike Miller.For more information,

visit www.pivixins.com.

CONTACT

Kate Smith

Director, Corporate Communications

(212) 208-3452

ksmith@ambac.com