Ambac Earnings Reports

Ambac delivered strong premium production and top-line growth in Q1 2025, but merger-related expenses, increased intangible amortization, and the impact from discontinued operations led to a net loss of $46.4 million.

Ambac Financial Group reported a net loss of $(548) million, or $(10.23) per diluted share, including a loss on disposal of $(570) million from the Legacy Financial Guarantee business sale. However, the P&C operating businesses had record performances, with total P&C premium production growing to $265 million, an 88% increase year-over-year. Cirrata's revenue grew by 257% and Everspan's net income increased significantly.

Ambac Financial Group reported a net loss of $(28) million for the third quarter of 2024, or $(0.63) per diluted share. However, the company experienced significant growth in its P&C premium production, which increased by 86% year-over-year, and a 64% increase in insurance distribution revenue. The Specialty P&C Insurance segment also showed improvement with a better combined ratio.

Ambac reported a net loss of $(1) million, or $(0.02) per diluted share, and an adjusted net income of $8 million, or $0.18 per diluted share. They finalized the acquisition of a 60% stake in Beat Capital Partners for $278 million and agreed to sell the Legacy Financial Guarantee Business for $420 million.

Ambac Financial Group reported a net income of $20 million or $0.43 per diluted share and Adjusted net income of $38 million or $0.82 per diluted share for Q1 2024. The specialty P&C platform continues to deliver growth, with a 45% increase in premium production. The Legacy Financial Guarantee segment also generated positive net income.

Ambac Financial Group reported a mixed Q4 2023, with a net loss of $(16) million but an adjusted net income of $10 million. The specialty P&C platform, Everspan, showed strong growth, exceeding targets with over a half billion dollars in premium production. The Legacy Financial Guarantee business is undergoing a strategic review.

Ambac Financial Group reported a net income of $66 million, with Everspan achieving its first quarterly pre-tax profit. The company's P&C growth strategy is progressing, with combined premium production across Everspan and Cirrata growing significantly.

Ambac Financial Group reported a net loss of $13 million, or $(0.29) per diluted share, but an adjusted net income of $3 million, or $0.07 per diluted share. The company saw growth in its Specialty P&C Insurance and Insurance Distribution segments, with combined premium production up 45% year-over-year. Ambac also made progress in de-risking its Legacy Financial Guarantee business through a reinsurance transaction.

Ambac Financial Group reported a net loss of $(33) million, or $(0.73) per diluted share, and an adjusted net loss of $(14) million, or $(0.30) per diluted share. However, the Specialty P&C businesses, Everspan and Cirrata, experienced significant growth in gross written premium and premiums placed, respectively.

Ambac Financial Group, Inc. reported a strong fourth quarter with net income of $175 million and adjusted earnings of $190 million. The company reduced debt and accrued interest by $1.8 billion and experienced significant growth in its Specialty P&C Insurance business. Book value and adjusted book value per share also saw substantial increases.

Ambac Financial Group reported a net income of $340 million and adjusted earnings of $338 million for Q3 2022, driven by a $319 million gain from a litigation settlement. The Specialty P&C Insurance Platform saw a 76% increase in production, reaching $58 million.

Ambac Financial Group reported a net income of $5 million and adjusted earnings of $13 million for the quarter ended June 30, 2022. The growth in the Specialty P&C Insurance Platform and the de-risking of the Legacy Financial Guarantee Watch List and Adversely Classified Credits contributed to the positive results. The company also repurchased $133 million of AAC debt and $14 million of AFG common stock.

Ambac Financial Group reported a net income of $2 million and adjusted earnings of $14 million for Q1 2022. Specialty P&C insurance production increased by 71% year-over-year, and Puerto Rico principal and interest exposure was reduced by $450 million.

Ambac Financial Group reported a net loss attributable to common stockholders of $22 million, or $0.42 per diluted share, and an adjusted loss of $10 million, or $0.16 per diluted share, for Q4 2021. These results were primarily driven by a lower benefit from loss and loss expenses compared to the previous quarter.

Ambac Financial Group reported a net income attributable to common stockholders of $17 million, or $0.35 per diluted share, and an adjusted income of $25 million, or $0.53 per diluted share, for the third quarter of 2021. The results were driven by an increased benefit from loss and loss expenses, interest rate derivative gains, and a lower provision for income taxes, partially offset by lower net investment income.

Ambac Financial Group reported a net loss attributable to common stockholders of $29 million, or $0.63 per diluted share, and an adjusted loss of $13 million, or $0.30 per diluted share, for the quarter ended June 30, 2021. The company also made significant progress towards its derisking goals, reducing adversely classified and watch list credits by $1.0 billion, or 8.2%.

Ambac Financial Group reported a net income of $17 million, or $0.08 per diluted share, and adjusted earnings of $41 million, or $0.59 per diluted share, for Q1 2021. These results were positively impacted by gains from junior surplus note exchanges and the inclusion of Xchange's results.

Ambac Financial Group reported a Net Loss attributable to common stockholders of $14 million or $0.31 per diluted share and Adjusted Earnings of $4 million or $0.08 per diluted share for the quarter ended December 31, 2020. Book Value per Share increased $0.98 to $23.57 and Adjusted Book Value per Share increased $0.61 to $20.05 from September 30, 2020 to December 31, 2020.

Ambac Financial Group reported a net loss attributable to common stockholders of $108 million, or $2.33 per diluted share, and an adjusted loss of $93 million, or $2.01 per diluted share, for the third quarter of 2020. The results were primarily driven by an increase in loss and loss expense reserves due to Puerto Rico and RMBS.

Ambac Financial Group reported a net loss of $35 million and an adjusted loss of $24 million for the second quarter of 2020. The lower net loss compared to the previous quarter was due to lower loss and loss expenses and the partial reversal of the financial market disruption from the first quarter. Results were positively impacted by improvements in investment income, net gains on derivative contracts, and lower interest and operating expenses.

Ambac Financial Group reported a net loss of $280 million or $6.07 per diluted share and an adjusted loss of $265 million or $5.75 per diluted share for Q1 2020. The COVID-19 pandemic significantly impacted the financial results, with lower interest rates and higher market risk premiums being primary drivers.

Ambac Financial Group, Inc. reported a Net Loss attributable to common stockholders of $110 million or a net loss of $2.40 per diluted share and an Adjusted Loss of $88 million or a net loss of $1.91 per diluted share for the quarter ended December 31, 2019. The results were impacted by an increase in loss and loss expense reserves related to Puerto Rico and RMBS partially offset by derivative contract gains.