Ambac Acquires All Trans Risk Solutions and Capacity Marine Corporation

Ambac Financial Group Acquires ArmadaCare from SiriusPoint

November 5, 2025

Insurance

Ambac Financial Group has completed its acquisition of ArmadaCare, a supplemental health insurance program manager, from SiriusPoint Ltd. ArmadaCare will operate as a wholly owned subsidiary of Ambac with its existing leadership team retained, bolstering Ambac’s accident and health capabilities and distribution footprint.

Trucordia Acquires Insurance Business of Boater's Insurance Agency

February 18, 2025

Insurance

Trucordia has acquired the insurance business of Boater's Insurance Agency, a San Francisco Bay Area firm founded in 1989 that specializes in marine insurance and is licensed in 50 states. The deal strengthens Trucordia's capabilities in the marine insurance vertical as part of its broader growth strategy to expand specialized offerings across its national brokerage platform.

Ambac Acquires Majority Stake in Riverton Insurance Agency Corp.

August 7, 2023

Insurance

Ambac Financial Group has acquired a majority stake in Riverton Insurance Agency Corp., a New Jersey-based insurance services business that includes the MGA Professionals' Best and retail agency ALIA. Riverton will join Ambac's Cirrata Group division to expand Ambac's property & casualty insurance distribution capabilities and professional lines offerings; terms were not disclosed.

Horizon Air Freight Acquires Transmarine Navigation Corporation

December 31, 2022

Transportation

Horizon Air Freight announced the acquisition of Transmarine Navigation Corporation, completed in Q4 2022, to expand its port agency and in-port logistics capabilities across North and South America. The deal combines Horizon’s global warehousing and last-mile delivery network with Transmarine’s port call agency presence at 12 ports, enhancing services for ship owners, operators, and charters.

Alliant Insurance Services Acquires Trivedi Capacity Associates and HARP Risk Purchasing Group

November 2, 2022

Insurance

Alliant Insurance Services has acquired New Jersey-based Trivedi Capacity Associates and its HARP risk purchasing group, integrating them into Preferred Concepts within Alliant Underwriting Solutions. The deal expands Alliant’s underwriting capabilities and product offerings for community associations and condominium associations nationwide; terms were not disclosed.

Ambac Financial Group Acquires 80% of Xchange (Xchange Benefits & Xchange Affinity Underwriting)

December 24, 2020

Insurance

Ambac Financial Group agreed to acquire 80% of the membership interests in Xchange Benefits, LLC and Xchange Affinity Underwriting Agency, LLC, with Xchange management principals retaining the remaining 20%. The acquisition is part of Ambac's strategy to diversify into specialty program insurance and expand its MGA/MGU capabilities to generate recurring fee-based income and accelerate Xchange's geographic and product growth plans.