Ambac (AMBC) Reports Q3, Announces $50M Share Buyback
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Ambac Reports Third Quarter 2024 Results and Approval of a $50 Million Stock Repurchase Program
November 12, 2024 4:05 PM ESTNEW YORK--(BUSINESS WIRE)-- Ambac Financial Group, Inc. (NYSE: AMBC) ("Ambac" or "AFG"), a financial services holding company, today reported its results for the quarter ended September 30, 2024.
Third Quarter 2024 Highlights
Net loss of $(28) million or $(0.63) per diluted share and Adjusted net loss of $(19) million or $(0.46) per diluted share driven by approximately $20 million of transaction costs and acquisition related short-term interest expense Total P&C Premium Production of $260 million, increased 86% from the third quarter of 2023 Insurance Distribution ("Cirrata") generated total revenue of $24... More