Ambac Q3 2022 Earnings Report
Key Takeaways
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.
$319 million gain from $1.84 billion legacy RMBS representation and warranty litigation settlement
Specialty P&C Insurance Platform production of $58 million, up 76% from third quarter of 2021
Book Value and Adjusted Book Value per Share up 29% and 34%, respectively, from the prior quarter
Net income attributable to common stockholders of $340 million or $7.41 per diluted share
Ambac
Ambac
Forward Guidance
Ambac is now in a materially stronger position to further advance its strategic priorities across both its Legacy and Core P&C Businesses.