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Dec 31, 2023
Ambac Q4 2023 Earnings Report
Reported a net loss of $(16) million and adjusted net income of $10 million, with specialty P&C exceeding targets and generating over a half billion dollars of premium production.
Key Takeaways
Ambac Financial Group reported a mixed Q4 2023, with a net loss of $(16) million but an adjusted net income of $10 million. The specialty P&C platform, Everspan, showed strong growth, exceeding targets with over a half billion dollars in premium production. The Legacy Financial Guarantee business is undergoing a strategic review.
Net loss of $(16) million or $(0.24) per diluted share, and Adjusted net income of $10 million or $0.32 per diluted share.
Legacy Financial Guarantee segment generated net loss of $(12) million.
Specialty P&C Insurance (Everspan) wrote gross premium of $91 million, up 76% from Q4 2022.
Insurance Distribution (Cirrata) premiums placed of $50 million, up 31% from Q4 2022.
Revenue by Segment
Forward Guidance
Ambac did not provide specific forward guidance in this earnings report.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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