On October 17, 2024, Ambac subsidiary Beat Capital Partners launched Fallow Grove Insurance Services, a new commercial property insurer. This new entity will offer coverage for industrial, flood, builder's risk, and general property risks.
Fallow Grove Insurance Services is supported by Everspan Group, Ambac's specialty property and casualty insurance platform, which holds an A- ('Excellent') rating from AM Best. This collaboration leverages existing strengths within the Ambac ecosystem.
The launch of Fallow Grove expands Ambac's offerings in the commercial middle market property sector. This initiative aligns with Ambac's strategy to grow its Insurance Distribution business through strategic acquisitions and the incubation of new managing general agents (MGAs).
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