Reinsurance News
Ambac
Ambac Financial Group rebrands as Octave Specialty Group
11th November 2025
Ambac Financial Group, Inc. has rebranded as Octave Specialty Group, Inc. (Octave), a global specialty insurance firm, while its Everspan Group businesses will continue to operate under their existing brands. The company will begin trading under its new ticker symbol “NYSE: OSG” on November 20th, 2025, marking the next phase of ... Read the full article
Ambac’s insurance distribution segment reports 40% rise in organic revenue growth for Q3’25
11th November 2025
Insurance holding company Ambac Financial Group, Inc. has reported organic revenue growth of 40% in its Insurance Distribution segment, as total revenue grew by 80% to $43 million for the quarter, compared to $24 million in Q3’24. For the Insurance Distribution segment, the net loss to shareholders is reported at $5 ... Read the full article
Beat Capital Partners launches financial institutions MGA, led by Blair Bartlett
16th October 2025
Beat Capital Partners, an incubator of underwriting franchises and Ambac subsidiary, has partnered with Crum & Forster executive Blair Bartlett to launch 1889 Specialty Insurance Services, a financial institutions managing general agent (MGA). Based in London, 1889 Specialty will provide management liability and professional lines insurance to small and medium-sized enterprises ... Read the full article
Ambac finalises $420m sale of legacy financial guaranty units to Oaktree
30th September 2025
Ambac Financial Group has completed the sale of its legacy financial guarantee businesses, Ambac Assurance Corporation and Ambac Assurance UK Limited, to funds managed by Oaktree Capital Management for $420 million in cash. The cash sale of Ambac Assurance Corporation and Ambac Assurance UK Limited to Oaktree was initially announced ... Read the full article
Ambac reports 110% increase in Q2’25 total P&C premium production
8th August 2025
Insurance holding company Ambac Financial Group, Inc. has announced its financial results for the second quarter of 2025, reporting total revenues from continuing operations of $55 million, an 8% increase from the $51 million in Q2 2025, and a 110% increase in total P&C premium production, compared to the same ... Read the full article
Ambac and Oaktree announce extension for financial guarantee business sale
7th July 2025
Insurance holding company Ambac has extended from July 3, 2025, to December 31, 2025 the term of the stock purchase agreement relating to the sale of its legacy financial guarantee businesses -Ambac Assurance Corporation (AAC) and Ambac UK (AUK) - to funds managed by Oaktree Capital Management, L.P. for $420 ... Read the full article
Ambac updates timing of legacy financial guarantee business sale to Oaktree
18th June 2025
Ambac Financial Group, Inc., an insurance holding company, has provided an update on the timing of the sale of its legacy financial guarantee businesses to funds managed by Oaktree Capital Management, L.P., and on the extension of the maturity date of its outstanding credit facility. The $420 million cash sale of ... Read the full article
Ambac reports total revenue growth of 27% in Q1’25
13th May 2025
Ambac Financial Group, Inc., an insurance holding company, has reported a 27% growth in total revenue from continuing property and casualty (P&C) operations for the first quarter of 2025 to $63 million, alongside total P&C premium production of $318 million, a 70% increase year-on-year. The company’s Specialty P&C Insurance (Everspan) business ... Read the full article
Ambac meets pre-closing conditions for $420m sale to Oaktree
7th April 2025
Ambac Financial Group, Inc., an insurance holding company, has announced that it has met all necessary pre-closing conditions under the purchase agreement for the sale of Ambac Assurance Corporation (AAC) and Ambac UK (AUK) to funds managed by Oaktree Capital Management, L.P. The transaction was first announced in June 2024, ... Read the full article
Ambac posts improved 96.5% CoR for Q4’24
27th February 2025
Ambac Financial Group, Inc., a financial services holding company specialising in insurance and reinsurance, reported strong growth in its fourth-quarter 2024 results. Ambac’s underwriting performance for the fourth quarter of 2024 saw continued progress, particularly in its Specialty P&C insurance and Insurance Distribution segments. The company reported $59.99 million in gross written ... Read the full article
Ambac’s specialty P&C insurance production totals $260m in Q3’24
13th November 2024
Ambac has revealed that its specialty P&C insurance production, which includes gross written premiums (GWP) by its Specialty P&C Insurance segment, Everspan, and premiums placed by the Insurance Distribution segment, totalled $260 million in the third quarter of 2024, an 86.2% increase compared to the same period last year. The firm’s ... Read the full article
Beat launches commercial middle market property specialist Fallow Grove
18th October 2024
Beat Capital Partners, a London-based incubator of underwriting franchises and a subsidiary of Ambac Financial Group, Inc., has launched Fallow Grove Insurance Services in partnership with former CrossCover executive Brett Dupre. The Fallow Grove product offering primarily specialises in technical and general commercial property insurance for excess and surplus lines, tailored ... Read the full article
Ambac gets shareholder approval for sale of legacy financial guarantee businesses
18th October 2024
Ambac Financial Group, the insurance holding company, has announced that its shareholders have voted to approve the proposed purchase agreement under which funds managed by Oaktree Capital Management LP will acquire its legacy financial guaranty businesses: Ambac Assurance Corporation and Ambac Assurance UK Limited. The deal was first announced in ... Read the full article
Ambac partners with Mike Miller-led MGA Pivix
8th October 2024
Insurance holding company Ambac has partnered with Mike Miller and his team on the launch of Pivix Specialty Insurance Services Inc., a managing general agency focusing on the excess and surplus (E&S) lines market. Miller, who is the former president of Scottsdale Insurance, the E&S carrier of Nationwide, is president and ... Read the full article
Beat Capital and ex-AIG exec Doug Karpp to launch proRISE Insurance Services
20th September 2024
Ambac Financial Group’s London-based subsidiary and underwriting franchise, Beat Capital Partners and market veteran, Doug Karpp will launch proRISE Insurance Services (proRISE) on October 1st, 2024, which will specialise in management and professional liability insurance with a focus on small and medium-sized enterprises (SMEs). Karpp is a former executive at Hiscox ... Read the full article
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