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Consolidated Balance Sheets
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2022
USD ($)
Jun. 30, 2022
USD ($)
Dec. 31, 2021
USD ($)
Assets:      
Fixed maturity securities, at fair value $ 1,947,000 $ 1,947,000  
Total investments (net of allowance for credit losses of $0 and $0) 2,547,000 2,547,000 $ 2,955,000
Cash and cash equivalents 32,000 32,000 17,000
Restricted Cash 5,000 5,000 5,000
Premiums Receivable, Net 311,000 311,000 323,000
Premium Receivable, Allowance for Credit Loss 6,000 6,000 9,000
Reinsurance Recoverable, Allowance for Credit Loss 48 48 10
Reinsurance Recoverables, Including Reinsurance Premium Paid 55,000 55,000 55,000
Deferred ceded premium 104,000 104,000 90,000
Subrogation recoverable 1,667,000 1,667,000 2,092,000
Derivative assets 40,000 40,000 76,000
Intangible assets 330,000 330,000 362,000
Goodwill 46,000 46,000 46,000
Other assets 83,000 83,000 68,000
Total assets 10,061,000 10,061,000 12,303,000
Liabilities:      
Unearned premiums 385,000 385,000 395,000
Loss and loss expense reserves 1,019,000 1,019,000 1,570,000
Ceded premiums payable 44,000 44,000 33,000
Long-term debt 2,189,000 2,189,000 2,230,000
Accrued interest payable 559,000 559,000 576,000
Derivative Liability 61,000 61,000 95,000
Other liabilities 124,000 124,000 133,000
Total liabilities 9,198,000 9,198,000 11,187,000
Redeemable Noncontrolling Interest, Equity, Carrying Amount 18,000 18,000 18,000
Liabilities 9,198,000 9,198,000 11,187,000
Stockholders’ equity:      
Preferred stock, par value $0.01 per share; 20,000,000 shares authorized; issued and outstanding shares—none 0 0 0
Common Stock, Value, Issued 0 0 0
Additional paid-in capital 267,000 267,000 257,000
Accumulated other comprehensive income (196,000) (196,000) 58,000
Retained earnings 728,000 728,000 726,000
Treasury stock, shares at cost: 0 and 8,202 (16,000) (16,000) (3,000)
Total Ambac Financial Group, Inc. stockholders’ equity 784,000 784,000 1,038,000
Noncontrolling interest 62,000 62,000 60,000
Total stockholders’ equity 846,000 846,000 1,098,000
Total liabilities and stockholders’ equity 10,061,000 10,061,000 12,303,000
Available-for-sale Securities, Amortized Cost Basis 1,979,000 1,979,000 2,140,000
Debt Securities, Available-for-sale, Allowance for Credit Loss 0 0 0
Debt Securities, Available-for-sale, Amortized Cost 1,979,000 1,979,000  
Xchange      
Liabilities:      
Redeemable Noncontrolling Interest, Equity, Redemption Value 18,000 18,000  
Redeemable Noncontrolling Interest, Equity, Carrying Amount     18,000
Short-term Investments [Member]      
Assets:      
Fixed maturity securities, at fair value 452,000 452,000 414,000
Stockholders’ equity:      
Available-for-sale Securities, Amortized Cost Basis 452,000 452,000 415,000
Debt Securities, Available-for-sale, Allowance for Credit Loss 0 0 0
Variable Interest Entity, Primary Beneficiary [Member]      
Assets:      
Fixed maturity securities, at fair value 2,642,000 2,642,000 3,455,000
Restricted Cash 2,000 2,000 2,000
Derivative assets 51,000 51,000 38,000
Other assets 2,000 2,000 2,000
Total assets 4,841,000 4,841,000 6,216,000
Liabilities:      
Long-term debt 3,340,000 3,340,000 4,216,000
Derivative Liability 1,476,000 1,476,000 1,940,000
Total liabilities 4,816,000 4,816,000 6,156,000
Liabilities 4,816,000 4,816,000 6,156,000
Stockholders’ equity:      
Financing Receivable, after Allowance for Credit Loss 2,144,000 2,144,000 2,718,000
Gross Investment Income, Operating (1,000)    
Fixed Income Securities [Member]      
Assets:      
Fixed maturity securities, at fair value 1,410,000 1,410,000 1,730,000
Stockholders’ equity:      
Available-for-sale Securities, Amortized Cost Basis 1,442,000 1,442,000 1,605,000
Available-for-sale Securities 1,410,000 1,410,000 1,730,000
Debt Securities, Available-for-sale, Allowance for Credit Loss 0 0 0
Short-term Investments [Member]      
Stockholders’ equity:      
Available-for-sale Securities 452,000 452,000 414,000
Gross Investment Income, Operating 1,000 1,000  
Other Investments [Member]      
Stockholders’ equity:      
Available-for-sale Securities 598,000 598,000 690,000
Gross Investment Income, Operating (23,000) (23,000)  
Fixed Income Securities, Trading      
Stockholders’ equity:      
Available-for-sale Securities, Amortized Cost Basis 2,000 2,000 0
Available-for-sale Securities 2,000 2,000  
Gross Investment Income, Operating (11,000) (21,000)  
Collateral Pledged [Member] | Fixed Income Securities [Member]      
Assets:      
Fixed maturity securities, at fair value 85,000 85,000 120,000
Stockholders’ equity:      
Debt Securities, Available-for-sale, Amortized Cost 15,000 15,000 15,000
Collateral Pledged [Member] | Fixed Income Securities [Member] | Short-term Investments [Member]      
Assets:      
Fixed maturity securities, at fair value 70,000 70,000 105,000
Stockholders’ equity:      
Available-for-sale Securities, Amortized Cost Basis 70,000 70,000 105,000
Debt Securities, Available-for-sale, Allowance for Credit Loss 0 0 0
Collateral Pledged [Member] | Short-term Investments      
Stockholders’ equity:      
Available-for-sale Securities, Amortized Cost Basis 70,000 70,000 105,000
Collateralized Securities | Fixed Income Securities [Member]      
Stockholders’ equity:      
Available-for-sale Securities 15,000 15,000 15,000
Collateralized Securities | Short-term Investments [Member]      
Stockholders’ equity:      
Available-for-sale Securities $ 70,000 $ 70,000 $ 105,000