Overview

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

* The insurance holding firm repurchased 3.1 mln shares, 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, leading to exit from commercial auto program

* SHARE REPURCHASE - Company repurchased 3.1 mln shares in October, reflecting confidence in strategic direction

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 Gross $43.22

Written mln

Premium

Q3 -$9.96 -$8.05

Adjusted mln mln (1

Net Analyst)

Income

Q3 Net -$112.62

Income mln

Q3 $9.86

EBITDA mln

Q3 -$5.75

Pretax mln

Profit

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 ( AMBC ) is $12.50, about 32.2% above its November 7 closing price of $8.48

Press Release:

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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.)