Norton Rose Fulbright advises Ambac Financial Group in US$250 million acquisition of ArmadaCare

A multidisciplinary team from global law firm Norton Rose Fulbright represented insurance holding company Ambac Financial Group (Ambac) in connection with its US$250 million agreement to acquire ArmadaCare, a leading supplemental health insurance program manager, from SiriusPoint.

The transaction, which is expected to close in the fourth quarter of 2025, will materially accelerate the growth and scale of Ambac’s distribution platform, strengthen specialty product diversification and expand relationships with distribution and capacity partners.

Norton Rose Fulbright’s corporate team was led by Kevin Fischer and included Michael Schwartz (St. Louis), David Hagen (Dallas), Cameron Gourlay (New York) and Jared Kaplan (Chicago).

Additional support was provided by Mike Stimson (Austin), Todd Schroeder, Josh Owings (Dallas), Mason Gardner (Houston), Annmarie Giblin, Charlene McHugh (New York), Jeff Wurzburg, Amanda Guillen (San Antonio), Adam Braun, Bruce Baty (St. Louis), Neely Agin, Luke McFarland and Mark Angland (Washington, DC).