---
schema_version: "secwatch.filing_event.v1"
accession: "0000874501-24-000127"
form_type: "8-K"
ticker: "OSG"
cik: "0000874501"
company_name: "OCTAVE SPECIALTY GROUP INC"
filed_at: "2024-05-06T23:59:59+00:00"
generated_at: "2026-06-02T22:40:58.199466+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0000874501-24-000127
- form_type: 8-K
- ticker: OSG
- cik: 0000874501
- company_name: OCTAVE SPECIALTY GROUP INC
- filed_at: 2024-05-06T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/874501/000087450124000127/0000874501-24-000127-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/874501/000087450124000127/ambc-20240506.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000874501-24-000127
- JSON: https://secwatch.observer/filing/0000874501-24-000127.json
- Plain text: https://secwatch.observer/filing/0000874501-24-000127.txt

## Key facts
- Earnings Releases
  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
  source text: Ambac Financial Group, Inc. issued a press release announcing financial results for its first quarter ended March 31, 2024
  evidence_url: https://www.sec.gov/Archives/edgar/data/874501/000087450124000127/0000874501-24-000127-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.