August 2, 2024
Ambac Financial Group said it has completed the acquisition of a 60% controlling stake in London-based Beat Capital Partners for about $282 million, up to $40 million of which will be paid in shares of Ambac common stock. The deal …
November 9, 2022
Financial services holding company Ambac Financial Group, Inc. announced that it has acquired majority stakes in both All Trans Risk Solutions, LLC and Capacity Marine Corp, both of Mahwah, New Jersey. All Trans is a managing general underwriter (MGU) specializing …
September 8, 2022
Bond insurer Ambac Financial Group Inc. cannot prove its $2.7 billion case against Bank of America over troubled mortgage-backed securities on evidence that BofA was a “bad actor” before the 2008 financial crisis, an attorney for the bank said on …
February 10, 2021
Financial holding company Ambac Financial Group has launched Everspan Group, capitalized with more than $100 million, to focus on writing specialty program insurance business. Everspan Group’s insurance companies include two Arizona-domiciled entities: Everspan Indemnity Insurance Co., an excess and surplus …
November 7, 2017
Shares of three major bond insurance firms with exposure to Puerto Rico fell on Monday after a “60 Minutes” episode aired on Sunday highlighted the extensive damage wreaked on the island by Hurricane Maria. Andrew Gadlin, a research analyst at …
February 12, 2016
The question of whether bankruptcy is a good option for Puerto Rico came to a head at an investor conference featuring the island’s top restructuring adviser and head of one of the bond insurers with the most exposure to the …