Tracked deals
7
7 tracked deals across 2020-2025.
Public Company
Financial Services
Octave Specialty Group
New York, New York, United States
Formerly known as Ambac Financial Group, Ambac Financial Group rebranded to Octave Specialty Group, Inc., Ambac Financial Group, Inc.
Octave Specialty Group is a specialty insurance firm building, buying, and scaling niche insurance distribution and underwriting businesses.
- Focus Areas
- Specialty insurance distribution, Underwriting, Insurance programs (MGAs/MGUs)
- Website
- octavegroup.com
Recent pace
1
1 tracked deal announced in the last 12 months.
Deal mix
Buyout
6 buyout · 1 addon
Octave Specialty Group Acquisition Volume by Year
Last 6 years
Supporting Data
Recent Transactions
-
November 5, 2025
- Buyer
- Ambac Financial Group, Inc.
- Target
- ArmadaCare
- Seller
- SiriusPoint Ltd.
- Industry
- Insurance
- Location
- Maryland, United States
- Type
- Buyout
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.
-
- Buyer
- Ambac Financial Group, Inc.
- Target
- Beat Capital Partners Limited
- Seller
- Bain Capital, Beat's management team
- Industry
- Insurance
- Location
- England, United Kingdom
- Type
- Buyout
Ambac Financial Group has agreed to acquire a 60% controlling interest in London-based Beat Capital Partners for approximately $282 million, with up to $40 million payable in Ambac stock and the remainder in cash. Bain Capital and Beat's management will each retain about 20% ownership; the deal strengthens Ambac's specialty property & casualty underwriting and MGA incubation capabilities and is expected to close in Q3 2024 subject to regulatory approvals.
-
- Buyer
- Ambac Financial Group, Inc.
- Target
- Riverton Insurance Agency Corp.
- Industry
- Insurance
- Location
- New Jersey, United States
- Type
- Buyout
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.
-
- Buyer
- Ambac Financial Group, Inc.
- Target
- All Trans Risk Solutions, LLC, Capacity Marine Corporation
- Industry
- Financial Services
- Location
- New Jersey, United States
- Type
- Addon
Ambac Financial Group has acquired majority stakes in All Trans Risk Solutions, LLC and Capacity Marine Corporation, adding roughly $60 million of premium placed to its specialty P&C distribution platform, Cirrata Group. The deals expand Ambac's underwriting and wholesale brokerage capabilities in transportation-focused commercial automobile and marine insurance markets.
-
- Buyer
- Everspan Group, Ambac Financial Group, Inc.
- Target
- 21st Century Indemnity Insurance Company, 21st Century Pacific Insurance Company, 21st Century Auto Insurance Company of New Jersey
- Seller
- a national insurance group
- Industry
- Insurance
- Location
- United States
- Type
- Buyout
Everspan Group, a specialty property & casualty platform owned by Ambac Financial Group, completed the acquisitions of 21st Century Indemnity Insurance Company, 21st Century Pacific Insurance Company and 21st Century Auto Insurance Company of New Jersey. The deals expand Everspan's admitted carrier base and distribution capabilities for its program partners; legacy liabilities of the three carriers remain with the seller (described as a national insurance group).
-
- Buyer
- Everspan Insurance Company, Ambac Financial Group, Inc.
- Target
- Providence Washington Insurance Company
- Seller
- a subsidiary of Enstar Group Limited (Enstar Group Limited)
- Industry
- Insurance
- Location
- Rhode Island, United States
- Type
- Buyout
Everspan Insurance Company, a subsidiary of Ambac Financial Group, completed the acquisition of Providence Washington Insurance Company from a subsidiary of Enstar Group Limited effective October 1, 2021. The purchase augments Everspan Group's admitted carrier capabilities to launch new admitted programs, expand product offerings, and strengthen relationships with distribution and program partners.
-
December 24, 2020
- Buyer
- Ambac Financial Group, Inc.
- Target
- Xchange Benefits, LLC, Xchange Affinity Underwriting Agency, LLC
- Seller
- Xchange management principals
- Industry
- Insurance
- Location
- New York, United States
- Type
- Buyout
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.
Related Acquisition Pages
Insurance Buyers & Acquisitions
6 tracked deals by Octave Specialty Group.
Financial Services Buyers & Acquisitions
1 tracked deal by Octave Specialty Group.
Acquisitions in New Jersey
2 tracked deals by Octave Specialty Group.
Acquisitions in Maryland
1 tracked deal by Octave Specialty Group.
Acquisitions in New York
1 tracked deal by Octave Specialty Group.
Acquisitions in Rhode Island
1 tracked deal by Octave Specialty Group.
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