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Ambac Financial Group, Inc. to Acquire Majority Stake in Beat Capital Partners to Strengthen Specialty Insurance Platform

Jun 05, 2024•over 1 year ago

Acquiring Company

Ambac Financial Group

Acquired Company

Beat Capital Partners Limited

New YorkLondonFinanceFinancial ServicesVenture Capital

Description

Ambac Financial Group, Inc. (“Ambac”) has signed a definitive agreement to acquire a 60% controlling stake in Beat Capital Partners Limited (“Beat”), a London-based insurance underwriting and managing general agency (MGA) incubation platform, for approximately $282 million. This acquisition significantly accelerates Ambac's progress towards its financial targets, strengthening its specialty property and casualty insurance platform to generate in excess of $1.4 billion in gross written premiums on a combined full-year 2024 pro forma basis.

Company Information

Company

Ambac Financial Group

Location

New York, New York, United States

About

Ambac Financial Group, Inc. (“Ambac”) is an insurance holding company with a strong presence in the specialty property and casualty insurance market. It is listed on the New York Stock Exchange under the ticker symbol AMBC and has a vision of being a premier destination for MGAs (Managing General Agencies), aligning with a team that has proven ability to build and launch profitable de novo MGAs. Ambac's acquisition of 60% controlling stake in Beat Capital Partners Limited significantly accelerates its progress towards its financial targets and strengthens its position in the global insurance market.

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M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed