05:01 PM EDT, 09/29/2025 (MT Newswires) -- SiriusPoint ( SPNT ) said late Monday it has agreed to sell its supplemental health insurance program manager, ArmadaCare, to Ambac Financial Group for $250 million.

The company said it will continue its capacity partnership with Armada until the end of 2030.

SiriusPoint ( SPNT ) said it will book a pre-tax gain of $220 million to $230 million following sale completion, with the deal valuing Armada at about 14x EBITDA. It expects to close the transaction in Q4.