Announcements

Beat Capital Partners launched proRISE Insurance Services

Beat Capital Partners (“Beat”), a London-based incubator of underwriting franchises and a subsidiary of Ambac Financial Group, Inc. (“Ambac”) (NYSE: AMBC), and Doug Karpp, former executive at Hiscox and AIG with over two decades of industry experience, announce proRISE Insurance Services (“proRISE’”) to launch on Oct. 1. proRISE specializes in management and professional liability insurance with a focus on small and medium-sized enterprises (SMEs).

Beat joins Ambac Financial Group

Beat Capital Partners Ltd. (“Beat”), is pleased to announce that Ambac Financial Group, Inc. (“Ambac”) (NYSE: AMBC) will be acquiring a controlling stake of the company in a definitive agreement for approximately $282 million, up to $40 million of which will be paid in Ambac common stock. The transaction is expected to close in the third quarter of 2024, subject to regulatory approval.