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Jun 30, 2023
Ambac Q2 2023 Earnings Report
Reported a net loss of $13 million and Adjusted net income of $3 million.
Key Takeaways
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.
Net loss of $(13) million or $(0.29) per diluted share and Adjusted net income of $3 million or $0.07 per diluted share
Specialty P&C Insurance gross written premium of $53 million, up 30% from the second quarter of 2022
Insurance Distribution premiums placed of $41 million, up 71% from the second quarter of 2022
Legacy Financial Guarantee Net Par Outstanding reduced 9.3%; Watch List and Adversely Classified Credits reduced 19.6%
Revenue by Segment
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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