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Dec 31, 2019
Ambac Q4 2019 Earnings Report
Ambac reported a net loss attributable to common stockholders and an adjusted loss for the quarter ended December 31, 2019.
Key Takeaways
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.
Net premiums earned were $20 million.
Net investment income was $42 million.
Net realized investment gains were $9 million.
Losses and loss expenses were $97 million.
Ambac
Ambac
Forward Guidance
Ambac intends to capitalize on the momentum in 2020 and will continue to execute on its priorities and actively seek to identify opportunities that will further its goal of increasing long-term value for its shareholders.