Ambac Q4 net loss $16M, adjusted income $10M; P&C premiums up 76%

OCTAVE SPECIALTY GROUP INC

2023-12-31 EPS reported $0.18 revenue$269,000,000

Q4 net loss attributable to common stockholders $15.7M ($0.24 diluted EPS); adjusted net income $10.2M ($0.32 diluted EPS).
Specialty P&C segment (Everspan) gross written premium $90.7M, up 76% YoY; combined ratio improved to 100.3%.
Insurance Distribution (Cirrata) premiums placed $50.2M, up 31% YoY; pretax income $0.6M.
Legacy Financial Guarantee segment net loss $12.2M from lower premiums and $19M defensive litigation in prior year.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

OCTAVE SPECIALTY GROUP INC reported fourth quarter ended December 31, 2023 results: net income Net loss of $(16) million, EPS $(0.24) per diluted share.

Period: fourth quarter ended December 31, 2023
Net income: Net loss of $(16) million
EPS: $(0.24) per diluted share
Result: reported results

Exact text from the filing

Ambac Financial Group, Inc. issued a press release announcing financial results for its fourth quarter ended December 31, 2023.

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OCTAVE SPECIALTY GROUP INC filing history →

Source: SEC EDGAR

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