Dennis Chua's questions to AMBAC FINANCIAL GROUP (AMBC) leadership • Q3 2024
Question
Inquired about the rationale for accelerating the share buyback, whether Everspan is tracking ahead of its full-year guidance, and whether the long-term EBITDA target is conservative or a stretch goal.
Answer
The buyback was accelerated due to progress on the legacy business sale and the attractive stock price. Everspan is tracking well towards its annual guidance despite some expected Q4 moderation. The long-term EBITDA target is considered achievable, driven by organic growth and the planned buyout of non-controlling interests in MGAs.