Ambac Finl Group Inc Stock Price, News & Analysis

Ambac Financial Group (NYSE: AMBC) provided an update on the sale of its legacy financial guarantee business to Oaktree Capital Management. The regulatory review process for selling Ambac Assurance Corporation and Ambac Assurance UK Limited is approaching completion, with a hearing expected in Q3 2025. Despite timeline delays, CEO Claude LeBlanc affirmed ongoing engagement with Oaktree to expedite the transaction closure. To maintain financial flexibility during this period, Ambac has amended its $150 million credit facility with UBS, extending the maturity date to December 31, 2025. Additional details about the credit facility amendment will be disclosed in an upcoming SEC Form 8-K filing.

Aegis Energy, a division of Aegis General Insurance Agency and K2 Insurance Services, has partnered with Everspan Group to launch a new Excess program for Petroleum Gasoline Haulers. The program offers up to $4 million in excess coverage and is available nationwide, excluding Massachusetts, Hawaii, and Alaska.

The non-admitted product is specifically designed for retail and wholesale Petroleum Gasoline Haulers involved in petroleum and propane product distribution. The partnership aims to provide enhanced risk management solutions and flexibility for retail agents serving petroleum industry clients.

Ambac Financial Group (NYSE: AMBC) reported mixed Q1 2025 results with significant growth in some areas but overall losses. Total revenue from P&C operations increased 27% to $63 million, while P&C premium production grew 70% to $318 million. The Insurance Distribution segment (Cirrata) saw revenue growth of 129% to $41 million but posted a net loss of $2 million. The Specialty P&C Insurance segment (Everspan) showed improved loss ratio of 66.9% but increased combined ratio to 102.1%. The company reported a net loss attributable to shareholders of $46.4 million, or $(1.22) per diluted share, compared to net income of $20.1 million in Q1 2024. The results were impacted by Beat Capital acquisition costs and elevated holding company expenses. During Q1, Ambac repurchased 264,791 shares at an average price of $11.79.

Ambac Financial Group (NYSE: AMBC) has announced it will release its first quarter 2025 financial results on May 12, 2025, after market close. The company will host a conference call on May 13, 2025, at 8:30 a.m. ET to discuss the quarterly results.

The call will feature President and CEO Claude LeBlanc and EVP/CFO David Trick. Investors can access the call through a live audio webcast on Ambac's website or by dialing (877) 407-9716 (Domestic) or (201) 493-6779 (International). A replay will be available until May 27, 2025, accessible via (844) 512-2921 (Domestic) or (412) 317-6671 (International) using ID# 13753308.

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.