Ambac Q1 net income $20M, adjusted EPS $0.82; P&C premium production up 45% YoY

OCTAVE SPECIALTY GROUP INC

2024-Q1 EPS reported $0.43 revenue$103,000,000

Net income of $20M ($0.43/diluted share); adjusted net income $38M ($0.82/share).
Specialty P&C combined ratio 98.4%, improving from 121.9% YoY; first quarterly underwriting profit.
P&C premium production $187M, up 45% YoY; Cirrata EBITDA $5M on $90M premiums placed.
Legacy Financial Guarantee pretax income $24.8M vs loss $32.1M; strategic review ongoing with active discussions.
Book value per share $30.19; adjusted book value $29.03, up marginally from prior quarter.

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 the quarter ended March 31, 2024 results: net income Net income of $20 million, EPS $0.43 per diluted share.

Period: the quarter ended March 31, 2024
Net income: Net income of $20 million
EPS: $0.43 per diluted share
Result: reported results

Exact text from the filing

Ambac Financial Group, Inc. issued a press release announcing financial results for its first quarter ended March 31, 2024

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Source: SEC EDGAR

accession 0000874501-24-000127

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