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Consolidated Balance Sheets
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2022
USD ($)
Sep. 30, 2022
USD ($)
Dec. 31, 2021
USD ($)
Assets:      
Fixed maturity securities, at fair value $ 1,977,000 $ 1,977,000  
Total investments (net of allowance for credit losses of $0 and $0) 2,640,000 2,640,000 $ 2,955,000
Cash and cash equivalents 29,000 29,000 17,000
Restricted Cash 6,000 6,000 5,000
Premiums Receivable, Net 268,000 268,000 323,000
Premium Receivable, Allowance for Credit Loss 6,000 6,000 9,000
Reinsurance Recoverable, Allowance for Credit Loss 75 75 10
Reinsurance Recoverables, Including Reinsurance Premium Paid 80,000 80,000 55,000
Deferred ceded premium 99,000 99,000 90,000
Subrogation recoverable 1,949,000 1,949,000 2,092,000
Derivative assets 28,000 28,000 76,000
Intangible assets 318,000 318,000 362,000
Goodwill 46,000 46,000 46,000
Other assets 85,000 85,000 68,000
Total assets 9,412,000 9,412,000 12,303,000
Liabilities:      
Unearned premiums 359,000 359,000 395,000
Loss and loss expense reserves 1,009,000 1,009,000 1,570,000
Ceded premiums payable 33,000 33,000 33,000
Long-term debt 2,201,000 2,201,000 2,230,000
Accrued interest payable 576,000 576,000 576,000
Derivative Liability 40,000 40,000 95,000
Other liabilities 244,000 244,000 133,000
Total liabilities 8,324,000 8,324,000 11,187,000
Redeemable Noncontrolling Interest, Equity, Carrying Amount 18,000 18,000 18,000
Liabilities 8,324,000 8,324,000 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 270,000 270,000 257,000
Accumulated other comprehensive income (315,000) (315,000) 58,000
Retained earnings 1,068,000 1,068,000 726,000
Treasury stock, shares at cost: 0 and 8,202 (15,000) (15,000) (3,000)
Total Ambac Financial Group, Inc. stockholders’ equity 1,009,000 1,009,000 1,038,000
Noncontrolling interest 62,000 62,000 60,000
Total stockholders’ equity 1,071,000 1,071,000 1,098,000
Total liabilities and stockholders’ equity 9,412,000 9,412,000 12,303,000
Available-for-sale Securities, Amortized Cost Basis 2,060,000 2,060,000 2,140,000
Debt Securities, Available-for-sale, Allowance for Credit Loss 0 0 0
Debt Securities, Available-for-sale, Amortized Cost 2,060,000 2,060,000  
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 523,000 523,000 414,000
Stockholders’ equity:      
Available-for-sale Securities, Amortized Cost Basis 523,000 523,000 415,000
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 2,119,000 2,119,000 3,455,000
Restricted Cash 2,000 2,000 2,000
Derivative assets 60,000 60,000 38,000
Other assets 1,000 1,000 2,000
Total assets 3,864,000 3,864,000 6,216,000
Liabilities:      
Long-term debt 2,752,000 2,752,000 4,216,000
Derivative Liability 1,110,000 1,110,000 1,940,000
Total liabilities 3,862,000 3,862,000 6,156,000
Liabilities 3,862,000 3,862,000 6,156,000
Stockholders’ equity:      
Financing Receivable, after Allowance for Credit Loss 1,682,000 1,682,000 2,718,000
Gross Investment Income, Operating 1,000    
Fixed Income Securities [Member]      
Assets:      
Fixed maturity securities, at fair value 1,384,000 1,384,000 1,730,000
Stockholders’ equity:      
Available-for-sale Securities, Amortized Cost Basis 1,467,000 1,467,000 1,605,000
Available-for-sale Securities 1,384,000 1,384,000 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 523,000 523,000 414,000
Gross Investment Income, Operating 3,000 4,000  
Other Investments [Member]      
Stockholders’ equity:      
Other Investment Not Readily Marketable, Fair Value 559,000 559,000 690,000
Gross Investment Income, Operating (5,000) (28,000)  
Fixed Income Securities, Trading      
Stockholders’ equity:      
Available-for-sale Securities 105,000 105,000  
Gross Investment Income, Operating (1,000) (22,000)  
Collateral Pledged [Member] | Fixed Income Securities [Member]      
Assets:      
Fixed maturity securities, at fair value 69,000 69,000 120,000
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 55,000 55,000 105,000
Stockholders’ equity:      
Available-for-sale Securities, Amortized Cost Basis 55,000 55,000 105,000
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 55,000 55,000 105,000
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 $ 55,000 $ 55,000 $ 105,000