Ambac’s Q3’25: Share Buybacks and Growth Amid Rising Losses
Ambac Financial Group, Inc. has reported its Q3'25 results, marked by a significant share repurchase and strategic partnerships, despite a dip in total revenues and increased net loss.
Ambac completed a share repurchase of 3.1 million shares in October 2025 at an average price of $8.48. Earlier in the quarter, Daimler Truck, led by CEO Karin Radström, acquired an unspecified number of shares. Claude LeBlanc, President and CEO, emphasized the focus on growing and improving specialty P&C businesses, including the integration of ArmadaCare and the growth of Beat.
The company expanded its partnership with MGA Pivix and launched 1889 Specialty, a new de-novo MGA venture. Despite these strategic moves, total revenues dipped by 5% to $67 million, primarily due to a managed reduction in earned premiums at Everspan. Adjusted EBITDA from continuing operations resulted in a loss of $3 million, compared to a gain of $2 million in Q3'24.
Notably, the Insurance Distribution segment saw a 272% growth in adjusted EBITDA to $10 million, driven by a 40% organic revenue growth. Total revenue in this segment grew by 80% to $43 million. However, the segment reported a net loss of $5 million, a slight improvement from the previous year's $7 million loss.
Ambac's Q3'25 results reflect strategic initiatives, including share repurchases and new partnerships, despite a challenging financial performance. The company's net loss from continuing operations increased to $32 million, with Everspan's gross and net premiums written decreasing significantly. Ambac shareholders will look for further details and improvements in the coming quarters.
