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Ambac Financial Group, Inc., a financial services holding company, today announced that its subsidiary, Everspan Insurance Company, has completed the acquisitions of 21st Century Indemnity Insurance Company, 21st Century Pacific Insurance Company and 21st Century Auto Insurance Company of New Jersey. “The expansion of Everspan’ s carrier base will provide. ....
Everspan Insurance Company Acquires Providence Washington Insurance Company financialbuzz.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from financialbuzz.com Daily Mail and Mail on Sunday newspapers.
Operator Greetings, and welcome to the Ambac Financial Group Inc. First Quarter 2021 Earnings Call. [Operator Instructions] As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, Ms. Lisa Kampf, Head of Investor Relations; Claude LeBlanc, Chief Executive Officer; and David Trick, Chief Financial Officer. I will now turn the call over to Lisa. Lisa A. Kampf Head of Investor Relations Thank you. Good morning, and thank you all for joining today s conference call to discuss Ambac Financial Group s first quarter 2021 financial results. We d like to remind you that today s presentation may contain forward-looking statements about our business, including but not limited to, new business, credit outlooks, market conditions, credit spreads, financial ratings, loss reserves, loss mitigation, loss recovery, investment returns or other items that may affect our future results. These statements are based on management s curre ....
Net Premiums Earned During the fourth quarter of 2020, net premiums earned were $18 million compared to $15 million in the third quarter of 2020, including accelerated premiums earned of $7 million in the fourth quarter of 2020 compared to $5 million in the third quarter of 2020. The increase in accelerated premiums earned were driven by the proactive termination of an international credit during the fourth quarter of 2020. Net Investment Income and Net Realized Investment Gains Net investment income for the fourth quarter of 2020 was $53 million compared to $37 million for the third quarter of 2020. Net investment income includes interest and net discount accretion on fixed maturity securities classified as available-for-sale and net gains on pooled investment funds, including changes in fair value of the funds’ net assets. ....
Press release content from Business Wire. The AP news staff was not involved in its creation. Ambac To Acquire Property & Casualty Managing General Underwriter Xchange; Provides Update on Strategy December 23, 2020 GMT NEW YORK (BUSINESS WIRE) Dec 23, 2020 Ambac Financial Group, Inc. (NYSE: AMBC) (“Ambac’), a financial services holding company, today announced, consistent with its platform diversification strategy, that it has entered into an agreement to acquire 80% of the membership interests of each of Xchange Benefits, LLC and Xchange Affinity Underwriting Agency, LLC (collectively, “Xchange”), subject to customary closing conditions. Xchange, whose management principals will retain the remaining 20% of the company, will continue operating under its existing brand as it seeks to expand its underwriting partnership with its key carriers in connection with its planned growth strategy. ....