Ambac Financial Group INC 8-K filings
Ambac Financial Group successfully held its annual meeting, electing directors and approving several key proposals including amendments to the company's certificate of incorporation.
8-K: Ambac Announces Transformative Transactions: Sale of Legacy Business and Acquisition of Beat Capital
Ambac Financial Group has announced the sale of its legacy financial guaranty business and the acquisition of a majority stake in Beat Capital, marking a significant shift towards a specialty P&C insurance platform.
Ambac Financial Group has agreed to sell its subsidiary, Ambac Assurance Corporation, to American Acorn Corporation for a base price of $420 million, subject to certain adjustments.
8-K: Ambac Financial Group Announces Sale of Legacy Business and Acquisition of Beat Capital Partners
Ambac Financial Group will sell its legacy financial guarantee business to Oaktree Capital for $420 million and acquire a 60% stake in Beat Capital Partners for approximately $282 million.
Ambac Financial Group reported a net income of $20 million for the first quarter of 2024, driven by strong performance in its specialty P&C insurance business.
8-K: Ambac Financial Group Reports Mixed Q4 2023 Results, Specialty P&C Business Shows Strong Growth
Ambac Financial Group reported a net loss for the fourth quarter of 2023, but saw significant growth in its Specialty P&C Insurance business and an increase in book value per share.
Ambac Financial Group and Ambac Assurance Corporation have entered into a new Stipulation and Order with the Wisconsin Office of the Commissioner of Insurance, replacing a previous agreement from 2018.