{"id":4245,"date":"2025-05-13T14:30:12","date_gmt":"2025-05-13T14:30:12","guid":{"rendered":"http:\/\/www.calebdewey.com\/?p=4245"},"modified":"2025-05-13T15:01:24","modified_gmt":"2025-05-13T15:01:24","slug":"ambac-reports-total-revenue-growth-of-27-in-q125","status":"publish","type":"post","link":"http:\/\/www.calebdewey.com\/index.php\/2025\/05\/13\/ambac-reports-total-revenue-growth-of-27-in-q125\/","title":{"rendered":"Ambac reports total revenue growth of 27% in Q1\u201925"},"content":{"rendered":"

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.<\/p>\n

\"ambac-logo-new\"The company\u2019s Specialty P&C Insurance (Everspan) business reported a decrease of 10% in gross written premiums to $86.9 million in Q1\u201925 compared to $96.4 million in the prior year quarter. The segment\u2019s combined ratio rose to 102.1%, compared to 98.4% in Q1\u201924.<\/p>\n

Net premiums written in the segment decreased by 31% to $18 million compared to $26.2 million in Q1\u201924. A similar trend was observed in net premiums earned, as they went down by 39% from the prior year quarter to $15.6 million from $25.6 million in Q1\u201924. However, the loss ratio for Q1\u201925 is 66.9%, improved by -880 bps, and net income is $1.4 million for the quarter, down slightly from $1.7 million in Q1\u201924.<\/p>\n

The Insurance Distribution segment (Cirrata) reported a total revenue growth of 129% to $41 million for Q1\u201925 from $17.9 million last year. However, there was a net loss of $2 million for the quarter, down 145% from a profit of $3.9 million in Q1\u201924.<\/p>\n

Net loss from continuing operations to Ambac shareholders in Q1\u201925 increased by $12 million to a loss of $16 million compared to the loss of $4 million in the same prior-year period, due to intangible amortisation and interest expense related to the acquisition of Beat.<\/p>\n

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The firm\u2019s total expenses from continuing operations in Q1\u201925 were $78 million, an increase of 48% compared to the $53 million in Q1\u201924. This was primarily due to an increase in G&A expenses from the inclusion of Beat, professional and advisor fees related to transactions, and intangible amortisation and interest expense, both of which relate to the Beat acquisition. These increases more than offset the lower losses and loss adjustment expenses at Everspan from the exit of several retained programs.<\/p>\n

Ambac\u2019s total investments for Q1\u201925 decreased to $291 million compared to $312 million in Q1\u201924.<\/p>\n

Claude LeBlanc, President and Chief Executive Officer, stated, “Our P&C business had a strong start to the year, with premium production up 70% to $318 million and revenue up 27% to $63 million, both compared to the first quarter of 2024, bolstered by our acquisition of Beat. Our increasingly diversified portfolio is being built for long-term growth and to withstand market cyclicality, such as the headwinds experienced in property and ESL this quarter. We are positioned to continue growing our business by focusing on specialty niches, and I am encouraged by the early indications from the MGAs we launched last year, a few of which are already profitable and all of which are trending towards consistent profitability.”<\/p>\n

He added, “In addition, as previously announced, we have completed all of our pre-closing conditions related to the sale of our Legacy business, which remains subject only to Wisconsin regulatory approval. We eagerly await the close of this transaction as we look ahead to our future as a leading specialty P&C franchise.”<\/p>\n

The post Ambac reports total revenue growth of 27% in Q1’25<\/a> appeared first on ReinsuranceNe.ws<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

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\u2019s Specialty P&C Insurance (Everspan) business reported a decrease of […]<\/p>\n","protected":false},"author":1,"featured_media":4247,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[10],"tags":[],"_links":{"self":[{"href":"http:\/\/www.calebdewey.com\/index.php\/wp-json\/wp\/v2\/posts\/4245"}],"collection":[{"href":"http:\/\/www.calebdewey.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.calebdewey.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.calebdewey.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/www.calebdewey.com\/index.php\/wp-json\/wp\/v2\/comments?post=4245"}],"version-history":[{"count":3,"href":"http:\/\/www.calebdewey.com\/index.php\/wp-json\/wp\/v2\/posts\/4245\/revisions"}],"predecessor-version":[{"id":4249,"href":"http:\/\/www.calebdewey.com\/index.php\/wp-json\/wp\/v2\/posts\/4245\/revisions\/4249"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/www.calebdewey.com\/index.php\/wp-json\/wp\/v2\/media\/4247"}],"wp:attachment":[{"href":"http:\/\/www.calebdewey.com\/index.php\/wp-json\/wp\/v2\/media?parent=4245"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.calebdewey.com\/index.php\/wp-json\/wp\/v2\/categories?post=4245"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.calebdewey.com\/index.php\/wp-json\/wp\/v2\/tags?post=4245"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}