Ambac in Advanced Talks to Acquire SiriusPoint's Armada

Ambac Financial is in advanced talks to acquire Armada, the accident and health managing general agent owned by SiriusPoint, expanding its distribution platform and deepening its efforts into fee-rich specialty programs. The acquisition would be a strategic move for Ambac to grow its business and increase its market share in the insurance industry.

Ambac Financial Group (AMBC) has released its Q2 2025 earnings, showcasing a robust performance in the specialty property and casualty insurance sector. The company reported an 8% increase in total revenue from continuing operations, reaching $55 million [1]. This growth was driven by a significant 110% rise in total property and casualty premium production, amounting to $346 million [1].

The Wisconsin Office of the Commissioner of Insurance recommended approval for the sale of Ambac’s Legacy Financial Guarantee business, which is currently in run-off. This move is expected to accelerate growth and profitability in the P&C segment [1].

Key financial metrics for the quarter included a 148% increase in revenue for the Insurance Distribution segment, totaling $33 million, despite a net loss to shareholders of $8 million. The Specialty P&C Insurance segment reported a combined ratio improvement to 107% and a loss ratio reduction to 67.8%. However, the company faced a net loss from continuing operations attributable to shareholders of $21 million, primarily due to increased expenses related to the acquisition of Beat Capital [1].

In addition to its Q2 results, Ambac Financial Group is in advanced talks to acquire Armada, the accident and health managing general agent owned by SiriusPoint. This strategic move aims to expand Ambac's distribution platform and deepen its efforts into fee-rich specialty programs. The acquisition is expected to grow Ambac's business and increase its market share in the insurance industry.

Looking ahead, Ambac Financial Group remains focused on scaling its P&C business and exploring strategic opportunities to enhance its market position. The company is poised to navigate the evolving insurance landscape with a strategic emphasis on growth and profitability.

References:
[1] https://www.theglobeandmail.com/investing/markets/stocks/AMBC-N/pressreleases/34034549/ambac-financial-group-reports-q2-2025-results/