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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, Inc. (NYSE: AMBC) announced that it will release its first quarter 2023 results on
A conference call is scheduled for
Ambac operates a specialty P&C distribution and underwriting platform and has a legacy financial guaranty business in run-off. The company has specific restrictions regarding the transfer of its common stock to prevent any person or group from exceeding a 5% shareholding.
Everspan Group has partnered with Ledgebrook to offer a new program providing general liability and excess liability coverage to mid-market businesses. This initiative will be distributed through wholesale brokers, leveraging Ledgebrook's advanced technology for efficient processing and quoting. Everspan, rated A- (Excellent) by AM Best, emphasizes their commitment to underwriting discipline, welcoming Ledgebrook's innovative approach and industry experience. The partnership is expected to enhance service delivery and efficiency in meeting client needs.
Ambac Financial Group, Inc. (NYSE: AMBC) announced that the outstanding AFG warrants will expire on April 30, 2023. As this date is not a trading day, holders must exercise their warrants by 5 p.m. EDT on April 28, 2023. The NYSE will suspend trading in these warrants after April 25, 2023. Approximately 4.9 million warrants remain outstanding with an exercise price of $16.67 per share.
Holders wishing to exercise their warrants should contact their brokers or custodians for instructions, while brokers are encouraged to reach Computershare Inc. for procedure confirmation prior to the cutoff time.
Everspan Group and Aurenity have launched a new excess casualty buffer coverage program targeting mid-market construction, hospitality, real estate, and product risks. The program, which will be underwritten by Aurenity's team, offers flexibility in limits, commonly at $4 million excess $1 million and $3 million excess $2 million. This initiative addresses the growing need for buffer layer coverage in the excess space. Aurenity, founded in January 2022, aims to enhance underwriting through technology and data insights. This partnership reflects both companies' commitment to disciplined underwriting and innovation in the E&S market.
Ambac Financial Group, Inc. (NYSE: AMBC) announced its 2023 Annual Meeting of Stockholders scheduled for June 22, 2023, at 11 a.m. (ET). The meeting will occur virtually, and the record date for stockholders entitled to vote will be the close of business on April 25, 2023. Detailed information regarding the meeting will be provided in the proxy statement and other materials.
Ambac, headquartered in New York City, engages in a specialty P&C distribution and underwriting platform alongside a legacy financial guaranty business in run-off. The company is committed to transparency with investors through timely updates on financial results and business information.
Ambac Financial Group (NYSE: AMBC) has appointed Christopher LaDelfa as Senior Vice President and head of its new Captive Solutions unit at Xchange Benefits LLC. LaDelfa, who brings nearly 20 years of experience in the stop loss industry, will lead initiatives to grow this segment using the company's protected cell company, Distribution Re, which was launched in January and primarily insures accident and health risks. The captive is located in Tennessee. CEO Peter McGuire expressed confidence in LaDelfa's ability to enhance Xchange's operations.
Ambac Financial Group reported a substantial fourth quarter 2022 with net income of $175 million ($3.86 per diluted share) compared to a net loss of $22 million in Q4 2021. Adjusted earnings were $190 million ($4.18 per diluted share), up from a loss of $10 million. The company achieved a $121 million net gain from legal settlements related to RMBS litigation. Book value per share rose 24% to $27.85, and adjusted book value increased 22% to $28.29. Specialty P&C Insurance premium production surged 172% to $90 million quarter-over-quarter, reflecting strong business growth.
Ambac Financial Group, Inc. (NYSE: AMBC) announced the resignation of Board member C. James Prieur, effective February 22, 2023, citing personal reasons. Chairman Jeffrey S. Stein thanked Prieur for his contributions since 2016, including guidance through litigation settlements and the pandemic. Prieur noted the decision was timely following the company's successful outcomes in 2022, including major litigation settlements and progress in its specialty P&C business. Ambac continues to focus on financial services, leveraging its legacy financial guaranty business and expanding its specialty P&C distribution and underwriting operations.
Ambac Financial Group (NYSE: AMBC) will announce its fourth quarter 2022 results on February 28, 2023, after market close. A conference call to discuss these results will take place on March 1, 2023, at 8:30 am ET, featuring CEO Claude LeBlanc and CFO David Trick. Interested parties can join via audio webcast on Ambac’s website or by dialing into the call. The call will be archived for replay until March 15, 2023.
Ambac operates a growing specialty P&C distribution and underwriting platform along with a legacy financial guaranty business.
