secwatch.observer — SEC 8-K summary
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Issuer:     OCTAVE SPECIALTY GROUP INC (OSG)
CIK:        0000874501
Form:       8-K
Filed at:   2025-02-26T23:59:59+00:00
Accession:  0000874501-25-000015
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Ambac Q4 net loss $548M on $570M legacy sale charge; P&C premiums up 88%
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- Continuing ops net loss $22M ($0.70 diluted); adjusted EBITDA $5.1M vs -$3.5M prior year.
- Legacy sale to Oaktree for $420M expected to close Q1/Q2 2025 pending Wisconsin approval; $570M disposal loss.
- Specialty P&C insurance production rose 88% to $265M; combined ratio improved to 96.5%.
- Insurance Distribution revenue up 257% to $44M; Cirrata adj. EBITDA to Ambac shareholders $5.3M.
- Stock buybacks: 962K shares at $12.48 in Q4, plus 240K in Q1 2025; $35M authority remaining.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/874501/000087450125000015/0000874501-25-000015-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/874501/000087450125000015/ambc-20250226.htm
  HTML page:      https://secwatch.observer/filing/0000874501-25-000015

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