Ambac Financial Group, Inc. (NYSE:AMBC) Q4 2022 Earnings Call Transcript

Unidentified Analyst: Fair enough. And then Claude, just a follow-up with Cirrata Obviously, you’ve done all trends, you did Capacity Marine and you’re looking at a lot of things. I appreciate it’s hard to say what opportunities you’re seeing, but perhaps are there certain areas where Cirrata is just not interested. What don’t you want to get into as much as what might be attractive?

Claude LeBlanc: I think we have a relatively broad appetite at Cirrata and we certainly are focused on MGU, MGA as well as wholesale. We’re not focused, obviously, on the retail brokerage side. But I think fundamentally, what’s core to platforms in Cirrata is really their underwriting performance and distribution performance. We are really looking at each of our MGA partners at Cirrata and that goes as well as program partners for Everspan for platforms that are very strong in the underwriting area that we believe and we can assess the viability, both in the hard markets that we’re in today, but also longer term in the soft market. So we have fundamental criteria we look at that are — we follow very carefully in evaluating opportunities.

And we also look at areas where we see strong synergies as between our MGA partners and distribution partners and also potential synergies with Everspan. So those are other categories and areas that we would focus on in terms of identifying good opportunities at Cirrata.

Operator: Thank you. As there are no further questions at this time. This concludes today’s teleconference. We thank you for participating. You may disconnect your lines at this time. Thank you for your participation.