Ambac more than doubles Ebitda to $26.6mn amid strong growth in P&C business

Ambac reported adjusted net income that increased from $3.4mn to $8.3mn, with Ebitda up 125 percent to $26.6mn in a momentous quarter when P&C premium production surged 75 percent to $165mn and the New York-based company announced deals to sell its legacy financial guarantee business and buy 60 percent of Beat Capital Partners.