Corrects Key Details table to show EBITDA and pretax profit figures are for the Insurance Distribution segment, not the whole company, and that the $43.22 mln refers to the segment's revenue, not gross written premiums for the company. Removes references to share repurchase and auto program from the Results Drivers section

Overview

• Ambac Q3 revenue from continuing operations fell 5% due to reduced earned premiums

• The insurance holding firm repurchased 3.1 mln shares in October, representing 6.7% of shares outstanding

Outlook

• Company expects Everspan's combined ratios to improve between 2026 and 2027

• Company sees significant growth potential with Pivix partnership expansion

Result Drivers

• INSURANCE DISTRIBUTION GROWTH - Strong revenue growth in Insurance Distribution segment driven by organic growth and acquisition of Beat

• ADVERSE LOSS EXPERIENCE - Specialty P&C Insurance segment affected by adverse loss experience

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the property & casualty insurance peer group is "buy"

• Wall Street's median 12-month price target for Ambac Financial Group Inc is $12.50, about 32.2% above its November 7 closing price of $8.48

Press Release: ID:nBw61JjH2a

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)