Welcome to our dedicated page for Ambac Finl Group news (Ticker: AMBC), a resource for investors and traders seeking the latest updates and insights on Ambac Finl Group stock.
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) will release its second quarter 2021 results on August 5, 2021, post-market closing. A conference call hosted by CEO Claude LeBlanc and CFO David Trick will follow on the same day at 8:30 AM ET. Investors can access the live audio webcast via Ambac's website or dial in to participate. A replay will be available until August 20, 2021. Ambac, headquartered in New York City, operates multiple subsidiaries in financial guarantee insurance and property & casualty sectors, trading under the symbol AMBC.
Ambac Financial Group (NYSE: AMBC) has successfully closed its offering of LIBOR plus 4.50% Floating Rate Senior Secured Notes due 2026 through its new entity, Sitka Holdings, LLC. The proceeds will be used to fully redeem the Ambac LSNI Notes due 2023. This move is aligned with favorable market conditions and extends the maturity of Ambac's previous debt, providing better financial flexibility amidst ongoing litigations related to insured mortgage-backed securities. The notes were privately offered, exempt from the U.S. Securities Act registration requirements.
Ambac Financial Group (NYSE: AMBC) announced the launch of a private offering for its newly formed special purpose entity, Sitka Holdings, LLC, of senior secured notes due 2026. The offering aims to raise at least $1,162 million, secured by assets including a note from Ambac Assurance Corporation related to $1.4 billion in litigation proceeds. Proceeds will partially fund the redemption of approximately $1,625 million in outstanding Tier 1 Notes. The offering is exempt from SEC registration and targeted at qualified institutional buyers.
Venbrook Group has announced a strategic partnership with Everspan Indemnity Insurance Company to launch a Non-Emergency Medical Transportation (NEMT) Program. This initiative will serve NEMT companies using vehicles such as medical vans and ambulances, managed by Cardigan General Auto Program Platform. The program is authorized to operate in several states, with future expansion planned. Everspan, rated A- by AM Best, will provide coverage on its highly-rated insurance. This partnership aims to enhance service offerings and expand Venbrook's market presence.
Ambac Financial Group reported a net income of $17 million, or $0.08 per diluted share, for Q1 2021, a turnaround from a net loss of $14 million in Q4 2020. Adjusted earnings also surged to $41 million, or $0.59 per diluted share, compared to $4 million or $0.08 in the prior quarter. The positive results stemmed from $37 million in gains from junior surplus note exchanges and the inclusion of Xchange's results, despite losses related to Puerto Rico. However, book value per share decreased to $23.02, reflecting ongoing challenges.
Ambac Financial Group (NYSE: AMBC) has rescheduled its first quarter 2021 results release to May 10, 2021, to assess the impact of a recent Financial Oversight and Management Board announcement for Puerto Rico. This announcement includes an agreement with creditors regarding clawback claims and a Plan of Adjustment for debts related to Puerto Rico’s transportation authorities. A conference call featuring the CEO and CFO will take place on the same date to discuss the financial results.
Ambac Financial Group, Inc. (NYSE: AMBC) announced it will release its first quarter 2021 results on May 6, 2021, post market closure. A live conference call will be held on May 7, 2021, at 8:30 AM ET, featuring President Claude LeBlanc and CFO David Trick discussing the financial results. Investors can access a live audio webcast through Ambac's Investor Relations webpage and listen by telephone. The replay will be available until May 21, 2021. Ambac operates through various subsidiaries and emphasizes transparency in communicating financial information.
Ambac Financial Group, Inc. (NYSE: AMBC) has announced its 2021 Annual Meeting of Stockholders, scheduled for May 25, 2021, at 10:30 am (ET). This meeting will be conducted virtually, and stockholders can access it via this link. The record date for voting eligibility is March 30, 2021. Ambac is a financial services holding company with various subsidiaries, primarily involved in financial guarantee insurance and property & casualty insurance. Further details will be provided in the proxy statement.
Ambac Financial Group (NYSE: AMBC) reported a net loss of $14 million ($0.31 per diluted share) for Q4 2020, an improvement from a loss of $108 million in Q3 2020. Adjusted earnings were $4 million ($0.08 per share), rising from an adjusted loss of $93 million. Book value per share increased to $23.57, while adjusted book value rose to $20.05. Key factors included a decrease in losses and improved net investment income, which surged 43% to $53 million. Ambac completed the acquisition of 80% of Xchange on December 31, impacting future growth.
Ambac Financial Group, Inc. (NYSE: AMBC) will release its fourth quarter 2020 results on March 1, 2021, after market close. A conference call to discuss these results will be held on March 2, 2021, at 8:30 AM ET, featuring Claude LeBlanc and David Trick. The call will cover Ambac's financial performance and its three pillar platform diversification strategy. The call can be accessed via telephone or through a live webcast. Ambac operates as a financial services holding company with subsidiaries currently in runoff and is exploring new business opportunities.
