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SiriusPoint Announces Sale of ArmadaCare MGA for $250m with Long Term Capacity Deal Until 2030
Globenewswire·2025-09-29 20:30

HAMILTON, Bermuda, Sept. 29, 2025 (GLOBE NEWSWIRE) -- SiriusPoint Ltd. (“SiriusPoint”) (NYSE: SPNT), a global specialty insurer and reinsurer, has today announced its agreement to sell wholly owned supplemental health insurance program manager, ArmadaCare (“Armada”) to Ambac Financial Group Inc. (“Ambac”) for 250million.SiriusPointwillcontinueitscapacitypartnershipwithArmadauntiltheendof2030.Uponcompletionofthesale,SiriusPointwillrecognizeapretaxgainof250 million. SiriusPoint will continue its capacity partnership with Armada until the end of 2030. Upon completion of the sale, SiriusPoint will recognize a pre-tax gain of 220-230 million, with the ...