Ambac Financial Group to acquire ArmadaCare from SiriusPoint for $250m.

Ambac Financial Group, an insurance holding company, agreed to acquire ArmadaCare, a supplemental health insurance program manager, from SiriusPoint, a global specialty insurer and reinsurer, for $250m. "The sale of our equity stake is an important step in unlocking the significant off-balance sheet value of Armada. We look forward to continuing our strong partnership with the team through our long-term capacity agreement," Scott Egan, SiriusPoint CEO.