Ambac Financial Group Launches 1889 Specialty Insurance Services

Ambac Financial Group has launched its subsidiary, 1889 Specialty Insurance Services. The company operates three businesses: Legacy Financial Guarantee Insurance, Specialty Property and Casualty Insurance, and Insurance Distribution, according to a StockTitan report https://www.stocktitan.net/news/AMBC/ambac-subsidiary-beat-capital-partners-launches-1889-specialty-obfmpvraf6dw.html.

Ambac Financial Group, Inc. (NYSE: AMBC) has announced the launch of its subsidiary, 1889 Specialty Insurance Services, a new venture focused on the Specialty Property and Casualty Insurance business. The new subsidiary will operate within the broader scope of Ambac’s three core businesses: Legacy Financial Guarantee Insurance, Specialty Property and Casualty Insurance, and Insurance Distribution, according to a StockTitan report https://www.stocktitan.net/news/AMBC/ambac-subsidiary-beat-capital-partners-launches-1889-specialty-obfmpvraf6dw.html.

1889 Specialty Insurance Services is led by Blair Bartlett, a seasoned executive with over 20 years of experience in financial lines underwriting. Bartlett, who previously served as Vice President of Financial Institutions at Crum & Forster, will serve as President and CEO of the new subsidiary, according to a Morningstar release https://www.morningstar.com/news/business-wire/20251016158454/ambac-subsidiary-beat-capital-partners-launches-1889-specialty-insurance-services-a-financial-institutions-mga-led-by-blair-bartlett-and-backed-by-a-rated-capacity. The company will specialize in management liability and professional lines insurance for small and medium-sized financial institutions, asset managers, insurance companies, and insurance agents and brokers.

The new subsidiary will write products on an excess and surplus (E&S) basis and distribute them primarily through wholesale channels. Backed by A+ rated capacity, 1889 Specialty will operate under the leadership of Beat Syndicate 4242 at Lloyd’s. Bartlett’s extensive underwriting background and market reputation for outstanding service are expected to position 1889 Specialty as a leading underwriter in this segment, the Morningstar release noted.

Ambac’s President and CEO, Claude LeBlanc, expressed enthusiasm about the addition of 1889 Specialty to the Ambac family. “We are excited to welcome Blair Bartlett and 1889 Specialty to the Ambac family,” LeBlanc stated. “Blair’s extensive underwriting background and leadership experience make him an ideal fit for our organization, which targets top-tier underwriting talent. We look forward to supporting 1889 Specialty on its path to growth and profitability,” the Morningstar release added.

The launch of 1889 Specialty Insurance Services aligns with Ambac’s strategic focus on expanding its Specialty Property and Casualty Insurance business. With Bartlett at the helm, the new subsidiary aims to deliver superior products and exceptional service to its clients, ensuring that SMEs receive the highest standard of protection, the Morningstar release said.