Oct. 28 at 9:33 AM
$AMBC Why funds invest in AMBAC part 2:
Metamorphosis in Real Time
Further, the combination of these two proximate transactions will dramatically accelerate Ambac’s business transformation. The transformed Ambac will be highly focused on insurance distribution businesses through a portfolio of managing general agents (“MGA”) and managing general underwriters (“MGU”) whose focus is on generating business in specialized excess and surplus insurance lines. Financial releases from Ambac should, in the coming quarters, begin to reflect its focus on a business model that is relatively fast growing, high margin, has generally recurrent revenue and earnings, and generally assumes very little on-balance sheet risk and, therefore, relatively little capital intensity.
Finally, we think ...
https://seekingalpha.com/article/4833746-third-avenue-small-cap-value-fund-q3-2025-letter
