Ambac Financial Group has completed its acquisition of a 60% stake in Beat Capital Partners, significantly expanding its property and casualty insurance operations. This deal is expected to double Ambac’s premium revenue, with an anticipated total of approximately $1.4 billion for the year. The acquisition enhances the scale and diversity of Ambac’s Cirrata Group, now incorporating 16 managing general agents (MGAs) under its umbrella. Beat’s leadership is poised to leverage this partnership to pursue further growth and strengthen its market presence both internationally and in the U.S.
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