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Fair Value Measurements (Tables)
 12 Months Ended
Dec. 31, 2024
Fair Value Disclosures [Abstract]  
Summary of Carrying Amount and Fair Value of Ambac's Financial Assets and Liabilities
The following table sets forth the carrying amount and fair value of Ambac’s financial assets and liabilities as of December 31, 2024 and 2023, including the level within the fair value hierarchy at which fair value measurements are categorized. As required by the Fair Value Measurement Topic of the ASC financial assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement.
December 31, 2024:December 31, 2023:
Carrying
Amount		Total Fair
Value		Fair Value Measurements Categorized as:Carrying
Amount		Total Fair
Value		Fair Value Measurements Categorized as:
Level 1Level 2Level 3Level 1Level 2Level 3
Financial assets:
Fixed maturity securities:
Municipal obligations$14,083 $14,083 $— $14,083 $— $8,711 $8,711 $— $8,711 
Corporate obligations89,192 89,192 — 89,192 — 87,991 87,991 — 74,071 13,920 
U.S. government obligations40,995 40,995 40,995 — — 38,522 38,522 38,522 — — 
Residential mortgage-backed securities2,446 2,446 — 2,446 — — — — — — 
Commercial mortgage-backed securities2,101 2,101 — 2,101 — — — — — — 
Collateralized debt obligations3,142 3,142 — 3,142 — — — — — — 
Other asset-backed securities5,061 5,061 — 5,061 — — — — — — 
Short term investments127,601 127,601 127,601 — — 200,510 200,510 200,510 — — 
Other investments (1)
28,294 7,499 — — — 18,317 5,817 — — — 
Cash, cash equivalents and restricted cash47,276 47,276 47,276 — — 19,223 19,223 19,223 — — 
Other assets-Loans3,434 3,434 — — 3,434 — — — — — 
Other assets - Derivatives:
Warrants— — — — — 656 656 — — 656 
Total financial assets$363,625 $342,830 $215,872 $116,025 $3,434 $373,930 $361,430 $258,255 $82,782 $14,576 
Financial liabilities:
Short-term debt, including accrued interest$152,560 $152,560 $— $— $152,560 $— $— $— $— $— 
Other liabilities - Derivatives:
FX forward contracts317 317 — 317 — — — — — — 
Total financial liabilities$152,877 $152,877 $— $317 $152,560 $— $— — — — 
(1)Excluded from the fair value measurement categories in the table above are investment funds of $7,499 and $5,817 as of December 31, 2024 and 2023, respectively, which are measured using NAV as a practical expedient. Also excluded from the fair value measurements in the table above are equity securities with a carrying value of $20,618 and $12,500 as of December 31, 2024 and 2023, respectively, that do not have readily determinable fair values and have carrying amounts determined using the measurement alternative, and an equity method investment of $177 as of December 31, 2024.
Summary of Changes in Level 3 Fair Value Category
The following tables present the changes in the Level 3 fair value category for the periods presented in 2024, 2023 and 2022. Ambac classifies financial instruments in Level 3 of the fair value hierarchy when there is reliance on at least one significant unobservable input to the valuation model. In addition to these unobservable inputs, the valuation models for Level 3 financial instruments typically also rely on a number of inputs that are readily observable either directly or indirectly. Thus, the gains and losses presented below include changes in the fair value related to both observable and unobservable inputs.
Level-3 Financial Assets and Liabilities Accounted for at Fair Value
Year ended December 31, 2024Investments DerivativesTotal
Balance, beginning of period$13,920 $656 $14,576 
Total gains/(losses) realized and unrealized:
Included in earnings6,016 (656)5,360 
Included in other comprehensive income125 — 125 
Purchases— — — 
Issuances— — — 
Sales— — — 
Settlements(20,061)— (20,061)
Balance, end of period$— $— $— 
The amount of total gains/(losses) included in earnings attributable to the change in unrealized gains or losses relating to assets and liabilities still held at the reporting date$— $(656)$(656)
The amount of total gains/(losses) included in other comprehensive income attributable to the change in unrealized gains or losses relating to assets and liabilities still held at the reporting date$— $— $— 
Level-3 Financial Assets and Liabilities Accounted for at Fair Value
Year Ended December 31, 2023InvestmentsDerivativesTotal
Balance, beginning of period$12,341 $935 $13,276 
Total gains/(losses) realized and unrealized:
Included in earnings— (279)(279)
Included in other comprehensive income784 784 
Purchases795 795 
Issuances— — 
Sales— — 
Settlements— — 
Balance, end of period$13,920 $656 $14,576 
The amount of total gains/(losses) included in earnings attributable to the change in unrealized gains or losses relating to assets and liabilities still held at the reporting date$— $(279)$(279)
The amount of total gains/(losses) included in other comprehensive income attributable to the change in unrealized gains or losses relating to assets and liabilities still held at the reporting date$784 $— $784 

Level-3 Financial Assets and Liabilities Accounted for at Fair Value
Year Ended December 31, 2022Investments DerivativesTotal
Balance, beginning of period$12,305 $— $12,305 
Total gains/(losses) realized and unrealized:
Included in earnings— 935 935 
Included in other comprehensive income(714)— (714)
Purchases750 — 750 
Issuances— — — 
Sales— — — 
Settlements— — — 
Balance, end of period$12,341 $935 $13,276 
The amount of total gains/(losses) included in earnings attributable to the change in unrealized gains or losses relating to assets and liabilities still held at the reporting date$— $935 $935 
The amount of total gains/(losses) included in other comprehensive income attributable to the change in unrealized gains or losses relating to assets and liabilities still held at the reporting date$(713)$— $(713)
Summary of Gains and Losses (Realized and Unrealized) Relating to Level 3 Assets and Liabilities Included in Earnings
Gains and losses (realized and unrealized) relating to Level 3 assets and liabilities included in earnings for the affected periods are reported as follows:
Net
Investment
Income		Net Gains
(Losses) on
Derivative Contracts
Year Ended December 31, 2024
Total gains (losses) included in earnings for the period$6,016 $(656)
Changes in unrealized gains (losses) relating to financial instruments still held at the reporting date— (656)
Year Ended December 31, 2023
Total gains (losses) included in earnings for the period$— $(278)
Changes in unrealized gains (losses) relating to financial instruments still held at the reporting date— (278)
Year Ended December 31, 2022
Total gains (losses) included in earnings for the period$— $935 
Changes in unrealized gains (losses) relating to financial instruments still held at the reporting date— 935