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Segment Reporting (Tables)
 12 Months Ended
Dec. 31, 2024
Segment Reporting [Abstract]  
Schedule of Segment Reporting Information, by Segment
The following tables summarize the components of the Company’s total revenues and expenses, and pretax income (loss) by reportable business segment. Information provided below for “Corporate and Other” primarily relates to the operations of AFG, which will include investment income on its investment portfolio and costs to maintain the operations of AFG, including public company reporting, capital management and business development costs for the acquisition and development of new business initiatives. As a result of the Company reporting the results of operations of AAC as discontinued operations, certain corporate costs charged to AAC totaling $14,919, $19,367 and $20,189 for the years ended December 31, 2024, 2023 and 2022, respectively, have been reported in Net income from continuing operations on the Consolidated Statements of Total Comprehensive Income and included in Corporate and Other in the tables below.
Year Ended December 31, 2024Year Ended December 31, 2023
Reportable SegmentsReportable Segments
Specialty Property & Casualty InsuranceInsurance DistributionCorporate & OtherTotalSpecialty Property & Casualty InsuranceInsurance DistributionCorporate & OtherTotal
Revenues:
Net premiums earned$99,005 $99,005 $51,911 $51,911 
Commission income$92,023 92,023 $51,281 51,281 
Program fees13,506 13,506 8,437 8,437 
Net investment income, net investment gains (losses), including impairments6,400 787 $6,764 13,951 3,759 64 $9,353 13,176 
Net gains (losses) on derivative contracts— 106 3,910 4,016 — — (279)(279)
Other income (expense)7,409 6,320 (415)13,314 (6)200 6 200 
Total revenues from Continuing Operations (1)
126,320 99,236 10,259 235,815 64,101 51,546 9,080 124,728 
Less:
Loss and loss adjustment expenses (benefit)72,626 72,626 36,712 36,712 
Policy acquisition costs23,666 23,666 10,557 10,557 
Commission expenses40,876 40,876 29,465 29,465 
Depreciation expense— 481 1,864 2,345 — 42 1,036 1,078 
Intangible amortization17,602 17,602 4,152 4,152 
Interest expense9,379 9,379 — 
Compensation expense10,201 28,353 25,791 64,346 10,853 7,951 29,664 48,468 
Non Compensation expense7,605 10,354 46,861 64,820 5,596 2,647 10,274 18,517 
Total expenses from Continuing Operations114,098 107,045 74,516 295,660 63,718 44,257 40,974 148,949 
Segment pretax income (loss)12,222 (7,809)(64,257)(59,845)383 7,289 (31,894)(24,221)
Segment income tax expense (benefit)1,753 (928)(1,748)(924)48 156 (1,193)(989)
Segment net income (loss)10,469 (6,881)(62,509)(58,921)335 7,133 (30,701)(23,232)
Segment net (income) loss attributable to NCI2 (363)(361)(1)(1,318)(1,319)
Segment net income (loss) attributable to Ambac shareholders$10,471 $(7,244)$(62,509)$(59,282)$334 5,815 (30,701)$(24,551)
Reconciliation to consolidated net income (loss) attributable to Ambac stockholders
Discontinued operations(497,167)28,183 
Net income (loss) attributable to Ambac stockholders$(556,449)$3,632 
Reconciliation of segment assets to consolidated total assets
Total assets$751,272 $900,222 $139,684 $1,791,178 $523,179 $154,846 $233,839 $911,864 
Discontinued operations$6,267,200 $7,516,456 
Total consolidated assets$8,058,378 $8,428,320 
EBITDA Reconciliation
Segment net income (loss)$10,469$(6,881)$(62,509)$(58,921)$335$7,133$(30,701)$(23,232)
Adjustments:
Interest expense9,3799,379——
Income taxes1,753(928)(1,748)(924)48156(1,193)(989)
Depreciation—4811,8642,345—421,0361,078
Intangible amortization17,60217,6024,1524,152
EBITDA12,22219,653(62,393)(30,518)$383$11,483$(30,858)$(18,991)
Add: Impact of noncontrolling interests(6,448)(6,448)(2,102)(2,102)
Ambac EBITDA$12,222$13,208$(62,396)$(36,966)3839,381(30,858)(21,093)
(1)Inter-segment revenues and inter-segment pre-tax income (loss) amounts are insignificant and are not presented separately.
Year Ended December 31, 2022
Reportable Segments
Specialty Property & Casualty InsuranceInsurance DistributionCorporate & OtherTotal
Revenues:
Net premiums earned$13,869 $13,869 
Commission income$30,695 30,695 
Program fees3,095 3,095 
Net investment income, net investment gains (losses), including impairments1,559 — $2,883 4,442 
Net gains (losses) on derivative contracts935 935 
Other income (expense)(58)715 (81)576 
Total revenues from Continuing Operations18,465 31,410 3,737 53,612 
Less:
Loss and loss adjustment expenses (benefit)9,071 9,071 
Policy acquisition costs2,535 2,535 
Commission expenses17,641 17,641 
Depreciation expense— 31 841 872 
Intangible amortization2,921 2,921 
Interest expense— — — 
Compensation expense7,799 4,518 26,842 39,159 
Non Compensation expense5,406 1,775 9,938 17,119 
Total expenses from Continuing Operations (1)
24,811 26,886 37,621 89,318 
Segment pretax income (loss)(6,346)4,524 (33,884)(35,706)
Segment income tax expense (benefit)(1)— (462)(462)
Segment net income (loss)(6,345)4,524 (33,422)(35,244)
Segment net (income) loss attributable to NCI15 (886)(871)
Segment net income (loss) attributable to Ambac shareholders$(6,330)$3,638 $(33,422)$(36,115)
Reconciliation to consolidated net income (loss) attributable to Ambac stockholders
Discontinued operations557,364 
Plus: gain on purchase of auction market preferred shares1,131 
Net income (loss) attributable to Ambac stockholders$522,380 
Reconciliation of segment assets to consolidated total assets
Total assets316,327 138,068 226,386 $680,781 
Discontinued operations7,291,949 
Total consolidated assets$7,972,730 
Segment net income (loss)$(6,345)$4,524 $(33,422)$(35,244)
Adjustments:
Interest expense— — — 
Income taxes(1)— (462)(462)
Depreciation— 31 841 872 
Intangible amortization2,921 2,921 
EBITDA(6,346)7,476 (33,043)(31,913)
Add: Impact of noncontrolling interests(1,463)(1,463)
Ambac EBITDA$(6,347)$6,013 $(33,043)$(33,377)
(1)Inter-segment revenues and inter-segment pre-tax income (loss) amounts are insignificant and are not presented separately.
Revenue from External Customers by Geographic Areas
Year Ended December 31,202420232022
United States $212,605 $124,728 $53,612 
United Kingdom23,210 — — 
Total revenues and other income$235,815 $124,728 $53,612