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Ambac Financial Group Inc (AMBC) provides essential financial guarantee services and specialty insurance solutions through its three core business segments. This news hub offers investors and stakeholders timely updates on corporate developments, regulatory filings, and strategic initiatives shaping the company's role in structured finance and risk management markets.
Access curated press releases and news articles covering AMBC's legacy insurance operations, specialty P&C innovations, and distribution network expansions. Track earnings announcements, leadership updates, and material events impacting this New York-based financial holding company. Our repository ensures you stay informed about Ambac's evolving position in public finance guarantees and insurance distribution markets.
Bookmark this page for direct access to primary source materials and analysis-free reporting. Regularly updated content supports informed decision-making for those monitoring financial services sector developments and specialty insurance industry trends.
Ambac Financial Group (NYSE: AMBC) has announced an update regarding the sale of its legacy financial guarantee business, including Ambac Assurance (AAC) and Ambac UK (AUK), to Oaktree Capital Management-managed funds. The company has fulfilled all its pre-closing requirements under the purchase agreement.
While Oaktree is still pursuing the final regulatory approval, which is expected in the second quarter, the purchase agreement's term has been automatically extended from April 4, 2025, to July 3, 2025. CEO Claude LeBlanc confirmed that Ambac stands ready to complete the transaction once the final regulatory approval is secured.
Ambac Financial Group (NYSE: AMBC) has announced the details for its 2025 Annual Meeting of Stockholders. The meeting is scheduled for Wednesday, May 28, 2025 at 11 a.m. (ET) and will be conducted in a virtual format. The company has set April 3, 2025 as the record date for determining stockholder eligibility to receive notice and voting rights for the annual meeting. Additional information about the Annual Meeting will be provided in the upcoming proxy statement and related materials.
Ambac Financial Group (NYSE: AMBC) reported significant growth in Q4 and full year 2024, with total revenue from continuing operations increasing 89% to $236 million. Specialty P&C Insurance premium grew 74% to $876 million annually.
Key highlights include:
- Q4 P&C premium production reached $265 million, up 88% year-over-year
- Insurance Distribution revenue grew 257% to $44 million in Q4
- Combined ratio improved by 380 bps to 96.5% in Q4
- Company recorded a $(570) million loss from Legacy Financial Guarantee business sale
- Consolidated net loss of $(548) million or $(10.23) per diluted share
- Share repurchase of 962,141 shares at average $12.48 in Q4
The company is finalizing the sale of its Legacy Financial Guarantee business to Oaktree Capital Partners for $420 million, pending Wisconsin regulatory approval.
Ambac Financial Group (NYSE: AMBC), an insurance holding company, has announced it will release its fourth quarter 2024 results on February 26, 2025, after market close. The company will host a conference call on February 27, 2025, at 8:30am ET, where President and CEO Claude LeBlanc and CFO David Trick will discuss the quarterly results.
Investors can access the live audio webcast through Ambac's Investor Relations website at www.ambac.com, or join via telephone. The webcast will be archived on the company's website, and a replay will be available until March 13, 2025.
Ambac Financial Group (NYSE: AMBC) reported a net loss of $28 million or $0.63 per diluted share for Q3 2024, primarily due to $20 million in transaction costs and short-term interest expenses. Adjusted net loss was $19 million or $0.46 per diluted share.
Total P&C premium production surged 86% YoY to $260 million. Insurance Distribution revenue grew 64% to $24 million, while Specialty P&C Insurance revenue increased 158% to $40 million, improving the combined ratio by 600 bps to 100.5%.
Legacy Financial Guarantee segment reported a net loss of $13 million, driven by changes in discount rates. Ambac's stockholders' equity rose to $1.47 billion, or $30.89 per share, from $1.37 billion in Q2 2024.
The Board approved a $50 million stock repurchase program. The acquisition of Beat Capital Partners and the launch of three new MGAs expanded the business pipeline, positioning Ambac to exceed $1 billion in premium placed in 2025.
Ambac Financial Group (NYSE: AMBC) has announced it will release its third quarter 2024 results on November 12, 2024, after market close. The company will host a conference call on November 13, 2024, at 8:30 a.m. ET, featuring President and CEO Claude LeBlanc and CFO David Trick to discuss the quarterly results. The call will be accessible via webcast through Ambac's website and telephone, with replay available until November 27, 2024.
Ambac Financial Group's subsidiary, Beat Capital Partners, has launched Fallow Grove Insurance Services, a U.S.-based company specializing in commercial middle market property insurance. Led by industry veteran Brett Dupre, Fallow Grove offers excess and surplus lines technical and general commercial property insurance with A+ rated capacity.
The company focuses on addressing complex risks and exposures faced by businesses across the United States. Fallow Grove's product lineup includes industrial, flood, builder's risk, and general property risks, distributed exclusively through wholesale brokers. The launch aligns with Ambac's organic growth strategy, aiming to establish 8-10 new MGAs over multiple years.
Ambac Financial Group, Inc. (NYSE: AMBC) announced that its shareholders have approved the sale of its legacy financial guarantee business to funds managed by Oaktree Capital Management, L.P. The special meeting of shareholders resulted in approximately 95% of votes cast in favor of the transaction. This marks a significant step in Ambac's strategy to transform into a specialty property and casualty insurance platform.
The sale includes Ambac Assurance and Ambac Assurance UK The transaction is expected to close in Q4 2024 or Q1 2025, subject to regulatory approvals and customary closing conditions. Moelis & Company served as the exclusive financial advisor, while Debevoise & Plimpton LLP provided legal counsel to Ambac for this transaction.
Ambac Financial Group (NYSE: AMBC) has announced a partnership with Pivix Specialty Insurance Services, a new managing general agency (MGA) focusing on the excess and surplus (E&S) lines market. Pivix, led by Mike Miller, former president of Scottsdale Insurance, offers property and casualty coverages for targeted segments, including SMEs.
The partnership aligns with Ambac's goal to become the premier destination for MGAs and underwriting talent. Pivix was founded by Miller along with Ken Levine, Joe Griffith, and Sandy Vertuno, all former Nationwide executives. Ambac's distribution division, Cirrata, includes majority-owned MGAs and MGUs, reflecting the company's vision to build a premier insurance distribution platform.
Beat Capital Partners, a subsidiary of Ambac Financial Group, Inc. (NYSE: AMBC), announces the launch of proRISE Insurance Services on Oct. 1. proRISE specializes in management and professional liability insurance for small and medium-sized enterprises (SMEs). Led by industry veteran Doug Karpp, proRISE offers a range of products including private and non-profit directors and officers, employment practices liability, fiduciary liability, crime, and professional liability insurance.
Backed by A+ rated capacity, proRISE writes on behalf of a consortium led by Beat Syndicate 4242 at Lloyd's. The company will distribute its products through wholesale brokers. This launch aligns with Ambac's organic growth strategy, which aims to launch 8-10 new MGAs over multiple years.
