AMBC - Mergers and acquisitions

Ambac Financial Group, Inc. (NYSE:AMBC) ("Ambac"), a financial services holding company, today announced that it has acquired a majority stake in Riverton Insurance Agency Corp., a New Jersey-based insurance services business consisting of an MGA and a retail agency. Terms of the deal were not released. Riverton's MGA, Professionals' Best, offers professional liability insurance programs to licensed architects, engineers, construction managers, and real estate professionals. The Riverton platform also includes ALIA, a retail agency that places professional liability for real estate agents with various markets. "We are excited to welcome Riverton to our growing portfolio of insurance dis

Ambac Financial Group, Inc. (NYSE:AMBC) ("Ambac"), a financial services holding company, today announced that it has acquired majority stakes in both All Trans Risk Solutions, LLC and Capacity Marine Corporation. "We are very pleased to add All Trans and Capacity Marine to our growing specialty P&C platform," said Claude LeBlanc, CEO of Ambac. "These acquisitions add approximately $60 million of premium placed to our insurance distribution division, Cirrata Group. Moreover, we are pleased to add Bob Lull and his proven leadership team to our growing group of Cirrata partners." Robert Lull, Chairman of All Trans and Capacity Marine, added, "By joining Ambac's Cirrata Group, we are position

Xchange Benefits, LLC, a property and casualty managing general underwriter specializing in accident and health insurance, announced that it has purchased the renewal rights of Employer Benefit Underwriters, Inc.'s employer stop loss portfolio, effective immediately. Founded in 1996 in Daytona Beach, Fla., Employer Benefit Underwriters, Inc. ("EBU") has been a managing general underwriter of employer stop loss business under the leadership of Howard Huneke. This acquisition enables Xchange Benefits, a subsidiary of Ambac Financial Group, Inc. (NYSE:AMBC), to expand its nationwide footprint through the addition of new producer relationships that have been solidified over the years by EBU. E

Everspan completes its first year of operations with an established framework for its specialty property and casualty platform Ambac Financial Group, Inc. (NYSE:AMBC) ("Ambac"), a financial services holding company, today announced that its subsidiary, Everspan Insurance Company (together with certain affiliates, "Everspan Group"), 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 acquisition of these carriers, in addition to the recently completed acquisition of Providence Washington Insurance Company in October 2021, materially broadens and enhances Everspan Group'

Ambac Financial Group, Inc. (NYSE:AMBC) ("Ambac"), a financial services holding company, today announced that its subsidiary, Everspan Insurance Company ("EIC"), has completed the acquisition of Providence Washington Insurance Company ("PWIC") from a subsidiary of Enstar Group Limited (NASDAQ:ESGR) ("Enstar"), effective October 1, 2021. The acquisition of PWIC will enhance the Everspan Group's (rated A- by AM Best) capabilities to launch new admitted programs, develop innovative products, and provide enhanced flexibility to foster strategic relationships with prospective program partners. Incorporated in 1799, PWIC is the second oldest insurance company in the United States and is domicil