Ambac Financial Group, Inc
(NYSE:AMBC)

Ambac Financial Group, Inc., a financial services holding company, provides financial guarantees in the United States, the United Kingdom, Italy, Austria, Australia, France, and Internationally. It offers financial guarantee insurance policies; and credit derivative contracts and interest rate deriv...

Website: http://www.ambac.com

Founded: 1971

Full Time Employees: 103

Sector: Financial Services

Industry: Insurance-Specialty

Financial Services Insurance

Share this website to your friends

• Market Cap:

• Exchange:

• Shs Outstanding:

• Employees:

• Beta:

• Return on Equity (ROE) ttm:

• Return on Assets (ROA) ttm:

• EPS ttm:

• Book value per Share:

• Cash per Share:

• Current ast per Share:

• P/E ttm:

• P/E forward:

• P/E ttm high:

• P/E ttm low:

• P/S ttm:

• P/B ttm:

• P/FCF ttm:

• PEG ratio:

• Cash Ratio ttm:

• Quick Ratio ttm:

• Current Ratio ttm:

• Gross Mgn ttm:

• EBITDA Mgn ttm:

• Operating Mgn ttm:

• Net Income Mgn ttm:

• Trailing Div yield:

• Forward Div yield:

• Payout Ratio ttm:

• Ex-Dividend date:

• Target Price High:

• Target Price Low:

• Target Price Mean:

• Number of Analysts:

• Debt Ratio ttm:

• Debt to Equity ttm:

• Total Net Debt:

At a glance:

Bull Thesis:

Bear Thesis:

Main Competitors:

Moat:

Income Statements:

Quarterly

Annual

Unit: USD	2026-03-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-09-30	2019-06-30	2019-03-31	2018-12-31	2018-09-30	2018-06-30	2018-03-31	2017-09-30	2017-06-30	2017-03-31	2016-12-31	2016-09-30	2016-06-30	2016-03-31	2015-09-30	2015-06-30	2015-05-01	2015-03-31	2014-09-30	2014-07-01	2014-05-01	2014-04-01	2014-03-31	2013-12-31	2013-09-30	2013-05-01	2013-03-31	2012-12-31	2012-09-30	2012-06-30	2012-03-31	2011-12-31	2011-09-30	2011-06-30	2011-03-31	2010-12-31	2010-09-30	2010-06-30	2010-03-31	2009-12-31	2009-09-30	2009-06-30	2009-03-31	2008-12-31	2008-09-30	2008-06-30	2008-03-31	2007-12-31	2007-09-30	2007-06-30	2007-03-31	2006-12-31	2006-09-30	2006-06-30	2006-03-31	2005-12-31	2005-09-30	2005-06-30	2005-03-31	2004-09-30	2004-06-30	2004-03-31	2003-09-30	2003-06-30	2003-03-31	2002-09-30	2002-06-30

revenues:
commissions	68,178,000	36,059,000	30,322,000
servicing and other fees	9,362,000	4,855,000	4,472,000	4,964,000
net premiums earned	20,001,000	17,027,000	16,203,000	15,678,000	5,000	33,000,000	33,000,000	33,000,000	31,000,000	18,000,000	15,000,000	14,000,000	17,000,000	11,000,000	14,000,000	15,000,000	11,000,000	11,000,000	11,000,000	14,000,000	18,000,000	15,000,000	11,000,000	10,000,000	10,466,000	7,833,000	27,758,000	28,730,000	25,640,000	25,836,000	30,883,000	52,989,000	43,152,000	47,613,000	49,867,000	53,218,000	41,402,000	52,800,000	71,535,000	60,879,000		65,718,000	64,831,000	64,831,000		65,013,000	82,547,000	213,517,871,012	70,949,000	113,262,000	100,256,000	103,538,000	113,074,000	103,042,000	94,950,000	112,845,000	102,055,000	99,271,000	91,799,000	110,679,000	143,085,000	167,005,000	125,231,000	184,415,000	238,401,000	177,732,000	196,812,000	228,094,000	282,326,000	325,471,000	186,866,000	209,641,000	194,795,000	221,019,000	216,006,000	208,156,000	198,499,000	210,788,000	194,180,000	205,046,000	218,098,000	193,242,000	199,634,000	183,499,000	189,593,000	165,435,000	159,626,000	151,992,000	134,752,000	122,396,000	113,630,000
program fees	3,644,000	3,590,000	3,497,000	3,652,000	3,506,000	4,000,000	3,000,000	3,000,000	2,000,000	2,000,000	2,000,000	1,000,000
investment income	2,355,000	2,666,000	2,609,000																																																					5,341,250	9,039,000	7,600,000	4,726,000	6,638,500	8,425,000	8,861,000	9,268,000	12,404,000	18,454,000	19,004,000	20,884,000	50,427,000	63,810,000	56,722,000	84,926,000	110,868,000	120,603,000	107,903,000	105,970,000	104,558,000	107,191,000
other	630,000	2,408,000	-2,146,000																																																																																							1,884,000	2,015,000
total revenues	104,170,000	66,606,000											71,500,000	80,000,000	86,000,000	119,000,000	53,000,000	51,000,000	49,000,000	129,000,000	88,000,000	62,000,000	75,000,000	-70,000,000	216,162,000	89,126,000	100,368,000	51,951,000	134,015,000	150,638,000	174,057,000	132,966,000	172,848,000	126,228,000	67,165,500	145,028,000	106,732,000	16,902,000	87,690,000	230,752,000		155,491,000														94,298,750	25,717,000	148,195,000	203,283,000	60,796,750	361,156,000	381,170,000	-499,139,000	566,601,000	2,689,511,000	-474,432,000	1,129,521,000	-202,236,000	-2,320,433,000	1,331,822,000	-1,562,639,000	-4,788,351,000	-300,984,000	412,580,000	461,829,000	416,930,000	460,307,000	500,925,000	453,942,000	429,748,000	438,260,000	402,879,000	390,820,000	352,131,000	352,026,000	337,380,000	324,434,000	324,985,000	293,732,000	220,401,000	201,975,000
yoy													34.91%	56.86%	75.51%	-7.75%	-39.77%	-17.74%	-34.67%	-284.29%	-59.29%	-30.44%	-25.27%	-234.74%	61.30%	-40.83%	-42.34%	-60.93%	-22.47%	19.34%	159.15%	-8.32%	61.95%	646.82%	-23.41%	-37.15%		-89.13%																		55.10%	-92.88%	-61.12%	-140.73%	-89.27%	-86.57%	-180.34%	-144.19%	-380.17%	-215.91%	-135.62%	-172.28%	-95.78%	670.95%	222.80%	-438.36%	-1248.48%	-165.39%	-17.64%	1.74%	-2.98%	5.03%	24.34%	16.15%	22.04%	24.50%	19.41%	20.46%	8.35%	19.85%	53.08%	60.63%
qoq	56.40%												-10.62%	-6.98%	-27.73%	124.53%	3.92%	4.08%	-62.02%	46.59%	41.94%	-17.33%	-207.14%	-132.38%	142.54%	-11.20%	93.20%	-61.23%	-11.04%	-13.45%	30.90%	-23.07%	36.93%	87.94%	-53.69%	35.88%	531.48%	-80.73%	-62.00%																	266.68%	-82.65%	-27.10%	234.36%	-83.17%	-5.25%	-176.37%	-188.09%	-78.93%	-666.89%	-142.00%	-658.52%	-91.28%	-274.23%	-185.23%	-67.37%	1490.90%	-172.95%	-10.66%	10.77%	-9.42%	-8.11%	10.35%	5.63%	-1.94%	8.78%	3.09%	10.99%	0.03%	4.34%	3.99%	-0.17%	10.64%	33.27%	9.12%
expenses:
losses and loss adjustment expenses	19,679,000	14,386,000	10,978,000	10,496,000	18,626,000	38,000,000	18,000,000	-1,000,000	18,000,000	-76,000,000	7,000,000	18,000,000																																																																											15,900,000	10,900,000	9,800,000	6,100,000	5,900,000
policy acquisition costs	6,371,000	3,491,000	3,699,000	3,841,000
general and administrative	53,155,000	53,710,000	40,540,000
intangible amortization and depreciation	12,214,000	9,746,000	9,741,000	9,176,000
interest	2,090,000	6,185,000	5,570,000																																																									22,408,500	29,878,000	29,597,000	30,159,000	30,025,000	29,918,000	29,837,000	29,846,000	29,804,000	29,970,000	30,075,000	24,377,000	22,128,000	22,232,000	22,091,000	19,289,000	16,870,000	19,474,000	19,475,000	19,475,000	15,243,000	13,627,000	13,513,000	13,513,000	13,722,000	13,461,000	13,625,000	13,750,000	14,537,000	12,454,000	10,774,000	10,816,000
total expenses	107,514,000	98,685,000	77,931,000	77,863,000	-24,340,000	141,000,000	103,000,000	77,000,000	91,000,000	6,000,000	73,000,000	86,000,000	-16,500,000	-262,000,000	80,000,000	116,000,000	73,000,000	32,000,000	66,000,000	110,000,000	101,000,000	170,000,000	108,000,000	217,000,000	147,107,000	189,233,000	141,578,000	74,087,000	153,963,000	144,330,000	-134,252,000	318,432,000	158,856,000	232,088,000	19,394,250	28,308,000	45,221,000	4,048,000	475,883,000	-55,343,000		-61,089,000																	995,374,000	228,688,500	285,072,000	438,866,000	190,816,000	480,433,000	535,552,000	1,320,490,000	849,821,000	1,060,911,000	751,476,000	-175,563,000	1,228,145,000	384,960,000	193,911,000	180,530,000	172,589,000	132,470,000	163,158,000	173,962,000	152,301,000	146,844,000	211,282,000	141,969,000	138,848,000	106,081,000	107,568,000	106,259,000	108,053,000	105,071,000	112,283,000	42,605,000	43,033,000
pretax income from continuing operations	-3,344,000	-32,079,000	-22,974,000	-15,107,000
provision for income taxes from continuing operations	-481,000	-1,241,000	-2,172,000	-617,000
net income from continuing operations	-2,863,000	-30,838,000	-20,802,000	-14,490,000
net income from discontinued operations, net of tax		-80,890,000	-52,151,000	-30,247,000
net income	-2,863,000	-111,728,000	-72,953,000	-44,737,000	-547,088,000	-29,000,000	-1,000,000	21,000,000	-16,000,000	66,000,000	-13,000,000	-33,000,000	174,000,000	340,000,000	5,000,000	2,000,000	-22,000,000	17,000,000	-28,000,000	17,000,000	-14,000,000	-108,000,000	-35,000,000	-280,000,000	66,116,000	-128,429,000	-43,201,000	-20,459,000	-22,159,000		305,704,000	-190,905,000	7,110,000	-125,441,000	-94,891,000	101,438,000	58,355,000	9,415,000	-391,031,000	282,178,000		214,871,000	82,429,000	82,429,000		-208,233,000	156,049,000	504,801,563,711	231,007,000	222,550,000	282,252,000	-256,953,000	-171,000	-813,350,000	253,322,000	-963,198,000	-75,509,000	-102,418,000	-819,246,000	-167,904,250	76,019,000	-57,574,000	-690,062,000	558,124,000	2,188,243,000	-2,368,783,000	-392,200,000	-2,340,817,000	-2,431,222,000	823,134,000	-1,660,343,000	-3,273,924,000	-360,613,000	173,037,000	213,343,000	202,678,000	213,523,000	238,570,000	221,140,000	204,252,000	175,117,000	186,098,000	185,543,000	183,459,000	180,710,000	171,611,000	159,669,000	162,571,000	137,923,000	131,691,000	119,761,000
yoy	-99.48%	285.27%	7195.30%	-313.03%	3319.30%	-143.94%	-92.31%	-163.64%	-109.20%	-80.59%	-360.00%	-1750.00%	-890.91%	1900.00%	-117.86%	-88.24%	57.14%	-115.74%	-20.00%	-106.07%	-121.17%	-15.91%	-18.98%	1268.59%	-398.37%		-114.13%	-89.28%	-411.66%		-422.16%	-288.20%	-87.82%	-1432.35%	-75.73%	-64.05%		-95.62%	-574.39%	242.33%		-203.19%	-47.18%	-99.98%		-193.57%	-44.71%	-196556.77%	-135191.81%	-127.36%	11.42%	-73.32%	-99.77%	694.15%	-130.92%	473.66%	-199.33%	77.89%	18.72%	-130.08%	-96.53%	-97.57%	75.95%	-123.84%	-190.01%	-387.78%	-76.38%	-28.50%	574.19%	375.70%	-878.25%	-1715.33%	-268.89%	-27.47%	-3.53%	-0.77%	21.93%	28.20%	19.19%	11.33%	-3.10%	8.44%	16.20%	12.85%	31.02%	30.31%	33.32%
qoq	-97.44%	53.15%	63.07%	-91.82%	1786.51%	2800.00%	-104.76%	-231.25%	-124.24%	-607.69%	-60.61%	-118.97%	-48.82%	6700.00%	150.00%	-109.09%	-229.41%	-160.71%	-264.71%	-221.43%	-87.04%	208.57%	-87.50%	-523.50%	-151.48%	197.28%	111.16%	-7.67%			-260.13%	-2785.02%	-105.67%	32.19%	-193.55%	73.83%	519.81%	-102.41%	-238.58%			160.67%	0.00%			-233.44%	-99.97%	218422.19%	3.80%	-21.15%	-209.85%	150164.91%	-99.98%	-421.07%	-126.30%	1175.61%	-26.27%	-87.50%	387.92%	-320.87%	-232.04%	-91.66%	-223.64%	-74.49%	-192.38%	503.97%	-83.25%	-3.72%	-395.36%	-149.58%	-49.29%	807.88%	-308.40%	-18.89%	5.26%	-5.08%	-10.50%	7.88%	8.27%	16.64%	-5.90%	0.30%	1.14%	1.52%	5.30%	7.48%	-1.79%	17.87%	4.73%	9.96%
net income margin %	-2.75%	-167.74%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	Infinity%	-Infinity%	Infinity%	-Infinity%	-Infinity%	243.36%	425.00%	5.81%	1.68%	-41.51%	33.33%	-57.14%	13.18%	-15.91%	-174.19%	-46.67%	400.00%	30.59%	-144.10%	-43.04%	-39.38%	-16.53%	0%	175.63%	-143.57%	4.11%	-99.38%	-141.28%	69.94%	54.67%	55.70%	-445.92%	122.29%	NaN%	138.19%	Infinity%	Infinity%	NaN%	-Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	-Infinity%	-Infinity%	-Infinity%	Infinity%	-1021.43%	-293.62%	-69.11%	-403.01%	-276.17%	21.05%	-15.10%	138.25%	98.50%	81.36%	499.29%	-34.72%	1157.47%	104.77%	61.81%	106.25%	68.37%	119.81%	41.94%	46.20%	48.61%	46.39%	47.63%	48.72%	47.53%	39.96%	46.19%	47.48%	52.10%	51.33%	50.87%	49.21%	50.02%	46.96%	59.75%	59.29%
net loss attributable to noncontrolling interest	-3,988,000	-892,000	254,000
net income attributable to shareholders	-6,851,000	-112,620,000	-72,699,000
continuing operations	-6,851,000	-31,730,000	-20,548,000	-16,144,000
discontinued operations		-80,890,000	-52,151,000	-30,247,000																																																																																-0.01
total	-6,851,000	-112,620,000	-72,699,000	-46,391,000
net income from continuing operations per share attributable to stockholders
basic	-0.13	-0.67	-0.45	-0.58
diluted	-0.13	-0.67	-0.45	-0.58
net income from discontinued operations per share attributable to stockholders
net income per share																																											1.83	1.83		-4.61	3.46	1.53	5.13	10.3	0.93			-2.68	0.84	-3.18	-0.25	-0.34	-2.71	-0.573	0.25	-0.2	-2.39	1.94	7.58	-8.24	-1.36	-8.65	-8.45	2.86	-11.69	-31.81	-3.53	1.69	2.04	1.58	2	2.24	2.08
basic	-0.13	-2.35	-1.54	-1.22	-10.48	-0.63	-0.02	0.44	-0.24	1.44	-0.29	-0.73	1.89	7.5	0.11	0.04	-0.42	0.35	-0.63	0.08	-0.31	-2.33	-0.77	-6.07	1.44	-2.79	-0.94	-0.45	-2.27	0.09	6.72	-4.2	0.16	-2.77	-2.09	2.24	1.3	0.21	-8.66	6.26		4.75																																													1.5	1.53	1.3	1.24	1.13
diluted	-0.13	-2.35	-1.54	-1.22	-10.48	-0.63	-0.02	0.43	-0.23	1.41	-0.29	-0.73	1.87	7.41	0.11	0.04	-0.42	0.35	-0.63	0.08	-0.31	-2.33	-0.77	-6.07	1.41	-2.79	-0.94	-0.44	-2.27	0.09	6.7	-4.2	0.16	-2.77	-2.1	2.22	1.29	0.21	-8.66	6.05		4.57																																													1.45	1.48	1.27	1.21	1.09
weighted-average number of common shares outstanding:
basic	45,302,933	48,106,069	48,116,503	47,313,012	46,969,708	47,688,986	46,209,250	45,827,076	45,636,649	45,635,373	45,757,234	45,564,276		45,307,019	45,519,093	46,731,459	46,535,001	46,615,552	46,576,673	46,314,049	46,147,062	46,178,730	46,166,666	46,060,324	45,997,694	45,986,043	45,832,297																								302,469,516	302,468,867	302,469,966	302,469,196	302,466,328	302,439,299	302,467,255	302,467,255	302,355,243		302,177,506	290,050,931	288,244,846	287,671,222	288,770,269	287,639,234	287,565,182	251,391,680	287,599,495	287,633,868	142,032,462	102,929,122	102,297,811	102,557,554	104,643,529	106,593,409	106,725,567	106,485,245	106,438,758	108,280,281	107,392,176	109,098,498	110,191,422	109,771,249	108,412,326	107,769,564	106,779,009	106,428,045	106,050,379	105,865,884	106,124,220
diluted	45,302,933	48,106,069	48,116,503	47,313,012	46,969,708	47,688,986	46,209,250	46,348,776	46,540,706	46,810,735	45,757,234	45,564,276		45,846,405	45,685,349	47,359,731	46,535,001	47,044,132	46,576,673	46,858,064	46,147,062	46,178,730	46,166,666	46,060,324	47,020,058	45,986,043	45,832,297																								302,579,254	302,468,867	302,582,276	302,469,196	302,580,597	302,439,299	302,467,255	302,467,255	302,355,243		302,177,506	290,050,931	288,244,846	287,671,222	288,770,269	287,639,234	287,565,182	251,391,680	287,599,495	294,857,435	142,032,462	102,929,122	102,297,811	103,442,086	105,600,555	107,536,339	107,737,122	107,450,639	107,430,787	109,394,985	108,484,035	110,327,148	111,772,811	111,107,367	110,924,314	110,397,003	109,944,141	109,417,451	108,737,211	108,959,876	109,515,722
net income from continuing operations per share attributable to shareholders
basic	-0.13	-0.67	-0.45	-0.58
diluted	-0.13	-0.67	-0.45	-0.58
net income from discontinued operations per share attributable to shareholders
total revenues and other income			54,957,000	62,756,000	-85,185,000	114,000,000	105,000,000	103,000,000	75,000,000	74,000,000	62,000,000	58,000,000
commission income				36,771,000	38,023,000	23,000,000	13,000,000	18,000,000	12,000,000	15,000,000	10,000,000	14,000,000	9,000,000	7,000,000	6,000,000	9,000,000
net investment income				2,815,000	-101,552,000	38,000,000	36,000,000	42,000,000	40,000,000	30,000,000	35,000,000	34,000,000	23,000,000	11,000,000	-21,000,000	5,000,000	27,000,000	21,000,000	42,000,000	49,000,000	53,000,000	37,000,000	52,000,000	-21,000,000	44,537,000	86,459,000																										92,871,000	84,078,000	93,836,000	112,117,000	113,573,000	81,588,000	87,964,000	71,665,000	64,109,500	69,840,000	69,028,000	117,570,000	135,380,000	134,977,000	122,909,000	100,271,000	112,918,000	126,757,000	130,740,000	123,645,000	123,969,000	115,825,000	113,190,000	112,064,000	72,700,000	120,247,000	116,983,000	113,955,000	109,010,000	110,646,000	104,450,000	102,008,000	89,593,000	88,081,000	86,704,000	80,890,000	79,892,000	76,595,000	75,895,000	73,593,000
other revenue				-1,124,000																																																																																	7,698,000	7,420,000	19,995,000	-6,179,000	8,517,000
commission expense				10,365,000	13,876,000	9,000,000	8,000,000	10,000,000	7,000,000	8,000,000	6,000,000	8,000,000
general and administrative expenses				38,531,000	-9,834,000	55,000,000	47,000,000	36,000,000	34,000,000	49,000,000	36,000,000	36,000,000
interest expense				5,454,000	-41,621,000	20,000,000	16,000,000	16,000,000	16,000,000	16,000,000	16,000,000	16,000,000	30,000,000	49,000,000	45,000,000	44,000,000	43,000,000	44,000,000	50,000,000	50,000,000	50,000,000	50,000,000	58,000,000	63,000,000	66,925,000	67,381,000	67,978,000	66,064,000	65,673,000	62,446,000	48,073,000	29,145,000	28,234,000	31,572,000	31,712,000	31,493,000	30,709,000	30,430,000	29,899,000	28,173,000		27,908,000	31,841,000	31,841,000		31,953,000	32,328,000	84,949,947,039	31,817,000	61,785,000	23,165,000	23,358,000	23,268,000	31,855,000	33,839,000	39,246,000	31,131,000	29,646,000	28,069,000	8,594,500	27,492,000	6,886,000
less: net loss attributable to noncontrolling interest				-1,654,000	-1,361,000	2,000,000						-1,000,000	-250,000
net income attributable to ambac shareholders				-46,391,000
other comprehensive income, after tax
unrealized gains on securities, net of income tax provision of 645 and 611				18,606,000
gains on foreign currency translation, net of income tax provision of 0 and 0				36,220,000								16,000,000																			32,056,000
credit risk changes of fair value option liabilities, net of income tax provision of 147 and				442,000
changes to postretirement benefit, net of income tax provision of 0 and 0
total other comprehensive income, net of income tax				55,268,000	-107,390,000	94,000,000		-15,000,000	102,000,000	-53,000,000	8,000,000	36,000,000	-93,000,000	-118,000,000	-126,000,000	-127,000,000	-6,000,000	-23,000,000	27,000,000	-18,000,000	57,000,000	71,000,000	100,000,000	-191,000,000	7,319,000	-3,454,000	71,257,000	-146,540,000	51,971,000	-53,622,000	154,615,000
total comprehensive income, net of income tax				10,531,000	-654,478,000	65,000,000		5,000,000	87,000,000	14,000,000	-5,000,000	3,000,000	-6,000,000	222,000,000
less: loss on foreign currency translation attributable to noncontrolling interest				-4,252,000	8,074,000	-5,000,000
total comprehensive income attributable to shareholders				4,625,000
net income from continuing operations per share attributable to ambac shareholders
basic	-0.13	-0.67	-0.45	-0.58
diluted	-0.13	-0.67	-0.45	-0.58
net income from discontinued operations per share attributable to ambac shareholders
three months ended march 31, 2025 and 2024
balance at december 31, 2024
total comprehensive income															-121,000,000	-125,000,000	-29,000,000	-6,000,000	-2,000,000	-1,000,000								-166,999,000	29,812,000			-167,053,000	48,713,000		-195,798,000	112,580,000	51,118,000	52,212,000	-413,778,000	208,609,000		163,591,000	26,571,000	26,571,000		-6,130,000	248,851,000	516,903,573,681	324,682,000	140,007,000	376,897,000	-84,495,000	267,866,000	-841,737,000	235,891,000
stock-based compensation
cost of shares repurchased
cost of shares (acquired) issued under equity plan
changes to noncontrolling interest
balance at march 31, 2025
balance at december 31, 2023
balance at march 31, 2024
net investment gains, including impairments					-3,497,000	-1,000,000	4,000,000	1,000,000	-15,000,000	1,000,000	-3,000,000	-4,000,000		14,000,000	7,000,000	10,000,000
net gains on derivative contracts					-2,984,000	5,000,000		2,000,000	-2,000,000	4,000,000		-4,000,000	5,000,000	37,000,000	29,000,000	57,000,000	3,000,000	5,000,000	-11,000,000	25,000,000	11,000,000	7,000,000	2,000,000	-70,000,000	-9,890,000	-35,412,000	-16,159,000
other income					7,000,000	10,000,000	16,000,000	3,000,000	4,000,000	2,000,000	2,000,000	3,000,000	5,000,000	1,000,000	1,000,000	2,000,000	8,000,000	8,000,000	7,000,000	5,000,000	1,000,000	2,000,000			141,376,000	-8,908,000	802,000	2,246,000	694,000	2,491,000	-509,000	46,000	467,000	-86,000	-166,000	2,693,000	6,919,000	7,999,000	7,150,000	-1,156,000		-788,000	1,046,000	1,046,000		5,266,000	1,894,000	4,363,999,572	428	-5,134,000	9,498,000	5,536,000	-368,000	36,137,000	64,793,000	-7,032,000	-4,963,000	9,227,000	28,303,000	25,178,250	186,859,000	-30,243,000	-55,903,000	67,422,000	309,922,000	39,221,000	1,723,000	726,000	-2,713,000	2,053,000	8,457,000	3,519,000	-1,291,000	5,649,000	2,856,000	4,520,000	2,655,000	2,930,000	29,454,000	6,161,000	2,859,000	906,000	2,385,000	799,000	1,355,000	-12,219,000	949,000	1,931,000	825,000	472,000	800,000
income on variable interest entities					1,250,000	3,000,000		3,000,000		1,000,000		-1,000,000	7,000,000	-1,000,000	-6,000,000	22,000,000	2,000,000	3,000,000	2,000,000		2,000,000			3,000,000	11,244,000	3,294,000	15,921,000	454,000	1,831,000	577,000	574,000	-4,049,000	-1,219,000	3,701,000	2,026,000	2,057,000	8,987,000	-27,163,000	-21,435,000	52,603,000		6,962,000	9,116,000	9,116,000		-38,148,000	-5,542,000	-48,623,059,707	55,109,000	-86,949,000	38,326,000	884,000	6,137,000	5,536,000	15,220,000	12,809,000	55,008,000	2,353,000		-111,827,000	26,377,000	-38,546,000	-492,704,000
amortization of deferred acquisition costs					4,000,000	6,000,000	5,000,000	4,000,000	6,000,000	2,000,000	1,000,000	1,000,000
intangible amortization					-15,398,000	13,000,000	8,000,000	12,000,000	8,000,000	7,000,000	7,000,000	7,000,000	13,000,000	6,000,000	13,000,000	14,000,000	11,000,000	11,000,000	14,000,000	19,000,000
pretax income					250,000	-27,000,000	2,000,000	26,000,000	-16,000,000	68,000,000	-11,000,000	-29,000,000	88,000,000	342,000,000
provision for income taxes					2,500,000	3,000,000	2,000,000			1,000,000	2,000,000	4,000,000	1,000,000	2,000,000	1,000,000																																									-481,000	75,011,000	542,000	2,350,000	12,500	65,000	-122,000	107,000	-471,956,000	-34,284,000	573,861,000	671,900,000	1,077,670,000	-640,687,000		-1,130,441,000			59,013,000	75,897,000	81,782,000	83,626,000	88,393,000	80,501,000	78,652,000	51,861,000	74,812,000	66,429,000	61,632,000	63,562,000	59,366,000	56,712,000	57,343,000	43,526,000	46,105,000	39,181,000
net income attributable to common stockholders					-2,000,000	-28,000,000	-1,000,000	20,000,000	-15,000,000	66,000,000	-13,000,000	-33,000,000	175,000,000	340,000,000	5,000,000	2,000,000	-22,000,000	17,000,000	-29,000,000	17,000,000	-14,000,000	-108,000,000	-35,000,000	-280,000,000	66,116,000	-128,429,000	-43,201,000	-20,459,000	-103,845,000	4,313,000	305,704,000				42,384,000	101,474,000	58,647,000	9,415,000
unrealized gains on securities, net of income tax provision of 3, 0, 3 and					8,500,000	37,000,000
gains on foreign currency translation, net of income tax provision of 0, 0, 0 and 0					12,750,000	57,000,000	1,000,000		2,000,000	-29,000,000	21,000,000
credit risk changes of fair value option liabilities, net of income tax provision of 0, 0, 0 and 0
changes to postretirement benefit, net of income tax provision of 0, 0, 0 and 0					-1,250,000		-5,000,000		500,000
total comprehensive income attributable to common stockholders					16,500,000	62,000,000		5,000,000	86,000,000	13,000,000	-6,000,000	3,000,000	-6,250,000	222,000,000	-121,000,000	-125,000,000	-28,000,000	-6,000,000	-2,000,000	-2,000,000	42,000,000	-37,000,000	65,000,000	-470,000,000	73,435,000	-131,883,000	28,056,000	-166,999,000	-51,874,000	-49,309,000
three months ended september 30, 2024 and 2023
balance at june 30, 2024
issuance of common stock
fair value of nonredeemable noncontrolling interest in beat capital partners at acquisition
balance at september 30, 2024
balance at june 30, 2023
balance at september 30, 2023
nine months ended september 30, 2024 and 2023
balance at january 1, 2024
balance at january 1, 2023
less: net (gain) attributable to noncontrolling interest								-1,000,000
unrealized gains on securities, net of income tax provision of 0,							4,000,000		-4,750,000	-23,000,000
less: comprehensive loss attributable to the noncontrolling interest									-250,000			-1,000,000	-250,000
three months ended june 30, 2024 and 2023
acquisition of noncontrolling interest in subsidiary
balance at march 31, 2023
six months ended june 30, 2024 and 2023
benefit from income taxes								5,000,000																	2,939,000	28,322,000	1,991,000	-1,677,000	2,211,000	1,995,000	2,605,000	5,439,000	6,882,000	19,581,000	8,832,000	15,282,000	3,156,000	3,439,000	2,838,000			1,709,000	2,344,000	2,344,000			3,249,000	7,513,998,893	594,000	6,857,000	657,000	2,093,000	667,000		300,000																	157,000	-134,282,000
unrealized gains on securities, net of income tax benefit of 0 and 1								-7,000,000
gains on foreign currency translation, net of income tax benefit of 0 and 0								-8,000,000																-46,000,000			14,571,000
credit risk changes of fair value option liabilities, net of income tax benefit of 0 and 0
changes to postretirement benefit, net of income tax benefit of 0 and 0																								-2,000,000			367,000
less: comprehensive (gain) loss attributable to the noncontrolling interest								-1,000,000									-250,000
net realized gains on extinguishment of debt													24,000,000		57,000,000					33,000,000										6,000	3,115,000		2,179,000	2,741,000		24,000	3,586,000	1,235,000	1,420,000													165,000		-177,745,000
three months ended september 30, 2023 and 2022
balance at june 30, 2022
balance at september 30, 2022
nine months ended september 30, 2023 and 2022
balance at january 1, 2022
sale of noncontrolling interest in subsidiary
unrealized gains on securities, net of income tax provision of											-13,000,000		-59,000,000	-59,000,000	-72,000,000	-105,000,000
three months ended june 30, 2023 and 2022
balance at march 31, 2022
sale of minority interest in subsidiary
six months ended june 30, 2023 and 2022
unrealized gains on securities, net of income tax provision of 1 and												17,000,000
credit risk changes of fair value option liabilities, net of income tax provision of 0 and 0
changes to postretirement benefit, net of income tax provision of 0 and, 0												3,000,000
three months ended march 31, 2023 and 2022
balance at december 31, 2022
balance at december 31, 2021
losses and loss expenses													-85,250,000	-353,000,000	-12,000,000	24,000,000	-15,000,000	-55,000,000	-26,000,000	8,000,000	9,000,000	83,000,000	16,000,000	117,000,000	37,139,000	-133,480,000	12,407,000	-42,298,000	33,501,000	32,579,000	-247,395,000	209,806,000	66,100,000	135,011,000									-28,698,000	-28,698,000		175,317,000	-140,011,000	-45,101.75	-154,290,000	-12,783,750	-51,135,000	-36,716,000	-18,745,000	741,411,000	-2,320,000	803,648,000	-60,238,000	196,398,000	919,647,000	141,526,000	165,396,000	323,326,000	89,152,000	385,423,000	459,213,000	1,230,847,000	739,830,000	916,414,000	607,702,000	-339,294,000																17,500,000
operating expenses													26,000,000	37,000,000	34,000,000	34,000,000	32,000,000	32,000,000	28,000,000	33,000,000	25,000,000	23,000,000	21,000,000	24,000,000	25,622,000	29,090,000	24,915,000	21,339,000	28,368,000	26,063,000	36,434,000	33,791,000	31,051,000	27,980,000	36,190,000	21,466,000	27,995,000	28,009,000																																	3,389,000	2,392,250	3,164,000	3,117,000	3,288,000	2,498,500	3,119,000
gains on foreign currency translation, net of income tax provision of —, —, — and —													-34,000,000	-58,000,000	-55,000,000
credit risk changes of fair value option liabilities, net of income tax provision of —, —, — and —														-1,000,000	1,000,000
changes to postretirement benefit, net of income tax provision of —, —, — and —													-250,000
three months ended september 30, 2022 and 2021
balance at june 30, 2021
balance at september 30, 2021
pre-tax income															6,000,000	3,000,000	-19,000,000	19,000,000	-18,000,000	19,000,000	-13,000,000	-108,000,000	-33,000,000	-287,000,000	69,055,000	-100,107,000	-41,210,000	-22,136,000	-19,948,000	6,308,000	308,309,000	-185,466,000	13,992,000	-105,860,000	-86,059,000	116,720,000	61,511,000	12,854,000	-388,193,000	286,095,000		216,580,000
other comprehensive income, after tax:
three months ended june 30, 2022 and 2021
balance at march 31, 2021
changes to redeemable nci
gains on foreign currency translation, net of income tax provision of — and —																-23,000,000
credit risk changes of fair value option liabilities, net of income tax provision of — and —
changes to postretirement benefit, net of income tax provision of — and —
three months ended march 31, 2022 and 2021
balance at december 31, 2020
net realized investment gains																	1,000,000	3,000,000	-2,000,000	2,000,000	2,000,000	2,000,000	10,000,000	8,000,000	18,471,000	35,860,000	17,233,000	29,413,000	30,201,000	47,148,000	4,862,000	6,150,000	4,180,000	-4,896,000	11,536,000	11,749,000	14,897,000	1,102,000	2,106,000	-5,353,000		54,101,000	10,045,000	10,045,000		3,067,000	16,289,000	4,466,991,838	-10,310,000	-41,593,000	46,060,000	1,480,000	3,162,000	67,067,000	392,000	18,194,000	4,722,000	-2,435,000	-15,000	18,868,250	2,053,000	18,281,000	55,139,000	24,756,000	92,279,000	12,789,000	-742,905,000	-61,456,000	49,378,000	-1,127,000	22,212,000	4,645,000	3,965,000	881,000	440,000	4,243,000	1,329,000	1,892,000	-379,000	303,000	5,013,000	-1,030,000	2,021,000	7,358,000	3,294,000	11,871,000	7,037,000	12,777,000	13,943,000
benefit for income taxes																	3,750,000	2,000,000	11,000,000	2,000,000	2,000,000		2,000,000	-7,000,000																3,917,000						-2,179,000								-211,000																684,251,000
less: net (gain) loss attributable to noncontrolling interest																	-250,000																		-82,000	-36,000	-292,000		-44,000	-517,000		160,000
unrealized gains on securities, net of income tax benefit of —, —, and 1																	-500,000	-4,000,000
gains on foreign currency translation, net of income tax benefit of —, —, — and —																	-2,750,000	-19,000,000	1,000,000		-5,000,000	29,000,000
credit risk changes of fair value option liabilities, net of income tax benefit of —, —, — and —																	-250,000				500,000
changes to postretirement benefit, net of income tax benefit of —, —, — and —																	-250,000				-750,000
unrealized gains on securities, net of income tax benefit of 1, 1, 1 and 1																			26,000,000
credit risk changes of fair value option liabilities, net of income tax benefit of —, —, and —
less: net gain attributable to noncontrolling interest																																											-21,000	-21,000		-328,000	107,000
unrealized gains on securities, net of income tax benefit of and —																				-24,000,000
gains on foreign currency translation, net of income tax benefit of — and —																				6,000,000
credit risk changes of fair value option liabilities, net of income tax benefit of — and 1																				-1,000,000
changes to postretirement benefit, net of income tax benefit of — and —
insurance intangible amortization																					10,250,000	14,000,000	14,000,000	13,000,000	17,421,000	226,242,000	36,278,000	28,982,000	26,421,000	23,242,000	28,636,000	45,690,000	33,471,000	37,525,000	40,152,000	44,553,000	39,013,000	50,890,000	39,680,000	38,088,000		37,432,000	41,908,000	41,908,000		36,256,000	31,714,000	99,657,937,575	37,473,000
unrealized gains																					250,000	42,000,000			31,285,000	15,238,000	56,163,000	-152,250	151,000	-308,000	-452,000	45,000	5,490,000	853,000	1,351,000	1,507,000	3,722,000	12,614,000	35,259,000	9,886,000		-2,918,000	6,820,000	6,820,000		-1,936,000	6,607,000	183,090,925,240	29,614,000	172,813,000	10,278,000	-26,464,000	24,496,000	-10,488,000		24,518,000	676,000	20,063,000		701,740,750	4,550,000	2,979,476,000	-177,063,000	781,659,000	2,865,761,000	6,016,000	1,539,227,000			961,580,000
unrealized gains on securities, net of income tax benefit of 1, , 1 and																							104,000,000
gains on foreign currency translation, net of income tax benefit of 0, 0, 0 and 0																							-2,000,000		-23,570,000	-18,533,000		-7,451,500	-8,873,000	-52,989,000
credit risk changes of fair value option liabilities, net of income tax benefit of , 0, 0 and 0																							-1,000,000
changes to postretirement benefit, net of income tax benefit of 0, 0, 0 and 0																									-322,000	-322,000		-366,000	-303,000	-302,000
unrealized gains on securities, net of income tax benefit of and																								-146,000,000
credit risk changes of fair value option liabilities, net of income tax benefit of 1 and 0																								3,000,000
other-than-temporary impairment losses:
total other-than-temporary impairment losses																									-42,000		-29,000	-1,643,000	-266,000	-1,010,000	-341,000	-25,664,000	-1,763,000	-21,154,000	-6,844,000	-15,906,000	-18,880,000	-48,070,000	-31,743,000	-1,391,000		-10,361,000	-6,997,000	-6,997,000		-9,051,000	-10,392,000	-47,417,959,443	-38,553,000			-1,355,000	-2,501,000	-7,492,000	-4,311,000	-53,121,000	-17,729,000	-17,793,000	-1,713,000	-12,426,500	-8,461,000	-7,777,000	-33,468,000	-135,330,000	-32,529,000	-675,394,000
portion of other-than-temporary impairment recognized in other comprehensive income																												-16,000		-4,000	42,000	12,154,000		17,212,000	4,653,000	13,053,000	11,439,000	38,736,000	22,593,000	371,000		7,242,000
net other-than-temporary impairment losses recognized in earnings																									-42,000		-29,000	-1,659,000	-266,000	-1,014,000	-299,000	-13,510,000	-1,763,000	-3,942,000	-2,191,000	-2,853,000	-7,441,000	-9,334,000	-9,150,000	-1,020,000		-3,119,000	-5,011,000	-5,011,000		-8,754,000	-10,392,000	-46,763,959,961	-38,037,000			-237,000	-354,000	-2,328,000	-3,071,000	-34,482,000	-10,070,000	-17,578,000	-1,713,000	-11,355,000	-6,584,000	-7,487,000	-31,349,000	-118,054,000	-32,529,000	-675,394,000
less: loss on exchange of auction market preferred shares
credit risk changes of fair value option liabilities, net of income tax benefit of (15), 40, 50 and 82																									-74,000
credit risk changes of fair value option liabilities, net of income tax benefit of 33, (188), 65 and 42																										163,000
net investment income:
securities available-for-sale and short-term																											46,552,000	48,247,000	49,985,000	61,742,000	110,551,000	80,999,000	80,943,000	73,150,000	79,169,000	79,530,000	64,368,000	57,982,000	65,619,000	62,278,000		63,332,000	82,881,000	82,881,000		76,882,000	68,807,000	142,865,919,013	51,776,000	57,254,000	85,612,000
other investments																											8,290,000	-10,764,000	8,347,000	4,920,000	-311,000	6,178,000	4,217,000	8,409,000	11,702,000	11,387,000	6,390,000	2,839,000	-1,424,000	2,475,000		9,651,000	700,000	700,000		3,211,000	1,994,000	3,580,002,665	350,000	4,123,000	-543,000
total net investment income																											54,842,000	37,483,000	58,332,000	66,662,000	110,240,000	87,177,000	85,160,000	81,559,000	90,871,000	90,917,000	70,758,000	60,821,000	64,195,000	64,753,000		72,983,000	83,581,000	83,581,000		80,093,000	70,801,000	146,445,921,678	52,126,000	61,377,000	85,069,000
credit risk changes of fair value option liabilities, net of income tax benefit of 32 and 230																											156,000
change in fair value of credit derivatives:
realized gains and other settlements																												74,000	99,000	91,000	106,000	134,000	1,134,000	199,000	201,000	226,000	233,000	252,000	1,693,000	407,000		419,000	596,000	596,000		717,000	775,000	9,777,992,346	1,580,000	7,269,000	2,509,000	4,442,000	2,944,000	3,073,000	3,254,000	3,625,000	3,829,000	4,224,000	5,323,000	-690,627,250	4,862,000	-2,777,295,000									16,973,000
net change in fair value of credit derivatives																												-78,250	250,000	-217,000	-346,000	179,000	6,624,000	1,052,000	1,552,000	1,733,000	3,955,000	12,866,000	36,952,000	10,293,000		-2,499,000	7,416,000	7,416,000		-1,219,000	7,382,000	192,868,917,586	31,194,000	180,082,000	12,787,000	-22,022,000	27,440,000	-7,415,000	-7,222,000	28,143,000	4,505,000	24,287,000	-8,903,000	15,746,000	9,412,000	202,181,000	-167,139,000	133,210,000	2,132,904,000	963,000	1,545,850,000	-594,359,000	-2,705,179,000	976,615,000	-1,708,199,000
net gains on interest rate derivatives																												13,004,750	17,333,000	9,149,000	25,537,000	3,984,000	34,068,000	-1,514,000
less: exchange of auction market preferred shares																												20,421,500	81,686,000
unrealized gains on securities, net of income tax benefit of (625), 0, (1,211) and 0																												45,921,500	60,807,000
credit risk changes of fair value option liabilities, net of income tax benefit of 40, 0, 82 and 0																												137,000	340,000
unrealized gains on securities, net of income tax benefit of 1,122, 0, (586) and 0																														575,000
credit risk changes of fair value option liabilities, net of income tax benefit of (188), 0, 42 and 0																														-906,000
unrealized gains on securities, net of income tax benefit of (1,708) and 0																															122,304,000
credit risk changes of fair value option liabilities, net of income tax provision of 230 and 0																															1,114,000
changes to postretirement benefit, net of income tax of 0 and 0																															-859,000
total comprehensive income attributable to ambac financial group, inc.																															460,319,000	-167,053,000	48,713,000	-89,226,000	-195,600,000	112,616,000	51,410,000	52,212,000	-413,462,000	208,728,000		163,757,000				-5,994,000	248,698,000	516,879,573,590	426,410	139,895,000	376,985,000	-83,886,000	267,920,000	-839,322,000	235,858,000
net income attributable to common shareholders																																-190,905,000	7,110,000	-125,441,000					-390,987,000	282,695,000		214,711,000	82,450,000	82,450,000		-207,905,000	155,942,000	505,218,563,344	230,975,000	222,920,000	282,299,000	143,576,000	157,544,000
unrealized gains on securities, net of deferred income taxes of 0																																-434,000	12,649,000	21,335,000	-64,780,000	24,719,000	48,170,000	59,791,000	8,382,000	-113,839,000		-17,448,000	-17,225,000	-17,225,000								97,142,000	108,446,000	36,466,000	-20,904,000
gains on foreign currency translation, net of deferred income taxes of 0																																24,624,000	29,292,000	12,593,000	-35,872,000	-13,323,000	-55,152,000	-17,781,000	-30,909,000	40,490,000		-33,805,000	-38,429,000	-38,429,000
changes to postretirement benefit, net of tax of 0																																-338,000	-338,000	2,287,000	-255,000	-254,000	-255,000	787,000	-220,000	-220,000		-27,000	-204,000	-204,000		-204,000	-204,000
total other comprehensive income, net of tax																																23,852,000	41,603,000	36,215,000	-100,907,000	11,142,000	-7,237,000	42,797,000	-22,747,000	-73,569,000		-51,280,000	-55,858,000	-55,858,000		202,103,000	92,802,000	12,102,009,970	93,675,000	-82,543,000	94,645,000	97,245,000	110,493,000	-28,387,000	-17,431,000
less: comprehensive (gain) loss attributable to the noncontrolling interest:
net gain																																											-21,000	-21,000		-328,000	107,000					-100,663,750	157,373,000
derivative products																																			83,992,000	-14,510,000	-36,331,000	-83,424,000	-65,083,000	50,999,000		-37,774,000	-15,685,000	-15,685,000		-47,985,000	-53,841,000	114,770,903,915	12,372,000	115,340,000	-569,000	-11,863,000	-36,007,000	-124,091,000	46,957,000	-20,456,000	-215,774,000	-65,592,000	21,004,000	-51,888,000	-78,368,000	-70,957,000	-58,227,000	73,658,000	-222,450,000	-44,219,000	-14,199,000	-31,963,000	-16,878,000	-15,137,000	-68,820,000	-409,000	1,216,000	2,464,000	3,606,000	5,379,000	3,252,000	3,321,000	4,686,000	2,555,000	8,896,000	-3,759,000	8,813,000	10,452,000
losses and loss benefit																																			-56,745,250	-69,204,000	-52,496,000	-105,281,000	-133,213,000	-147,477,000
goodwill impairment																																							514,511,000
net (gain) loss																																			-82,000	-36,000	-292,000		-44,000	-517,000		160,000
currency translation adjustments																																							-272,000	398,000		-326,000	-395,000	-395,000		192,000	46,000	440,999,724	414,000	482,000	-41,000	-171,000	117,000	-183,000	31,000
less: comprehensive gain attributable to the noncontrolling interest:
underwriting and operating expenses																																							25,006,000	25,873,000		24,523,000	25,513,000	25,513,000		24,033,000	25,786,000	68,768,958,736	25,047,000	34,340,000	34,429,000	35,581,000	33,347,000	33,567,000	36,534,000	46,753,000	40,340,000	11,836,000	42,376,000	37,656,750	41,200,000	58,931,000	50,496,000	42,273,000	28,039,000	48,861,000	56,637,000	58,365,000	46,896,000	61,953,000	48,982,000	34,954,000	34,576,000	33,438,000	36,376,000	33,781,000	30,192,000	31,871,000	37,896,000	27,870,000	27,844,000	28,692,000	33,403,000	26,157,000	29,246,000	25,654,000	23,795,000	21,013,000	22,166,000	18,467,000	18,603,000
pre-tax income before reorganization items																																							-388,193,000	286,095,000		216,580,000
reorganization items																																											2,000	2,000		186,000	23,000	492,999,572	4,000	-1,566,000	2,059,000	2,735,000	1,252,000	767,000	2,461,000	10,067,000	8,519,000	6,470,000	24,805,000
net realized losses on extinguishment of debt																																								-1,246,000		-93,000
losses and loss																																										-150,952,000
portion of loss recognized in other comprehensive income																																											1,986,000	1,986,000		297,000		653,999,482	516,000			1,118,000	2,147,000	5,164,000	1,240,000	18,639,000	7,659,000	215,000		1,071,500	1,877,000	290,000	2,119,000
total revenues before expenses and reorganization items																																											155,339,000	155,339,000		57,333,000	109,138,000	581,047,585,933	171,652,000	289,621,000	291,427,000	170,352,000	197,162,000	-5,961,000	324,136,000
total expenses (benefit) before reorganization items																																											70,564,000	70,564,000
pre-tax income from continuing operations before reorganization items																																											84,775,000	84,775,000		-210,226,000	159,321,000	512,808,562,176	231,605,000	227,841,000	284,968,000	148,129,000	159,292,000	-812,794,000
pre-tax income from continuing operations																																											84,773,000	84,773,000		-210,412,000	159,298,000	512,315,562,604	231,601,000	229,407,000	282,909,000	145,394,000	158,040,000	-813,561,000						-63,433,000	76,084,000		-689,955,000	86,168,000	2,153,959,000	-1,794,922,000	279,700,000	-1,263,147,000	-3,071,909,000
total comprehensive income attributable to common shareholders																																											26,987,000	26,987,000
net income per share																																											1.83	1.83		-4.61	3.46	1.53	5.13	10.3	0.93			-2.68	0.84	-3.18	-0.25	-0.34	-2.71	-0.573	0.25	-0.2	-2.39	1.94	7.58	-8.24	-1.36	-8.65	-8.45	2.86	-11.69	-31.81	-3.53	1.69	2.04	1.58	2	2.24	2.08
net income per diluted share attributable to common shareholders																																											1.77	1.77
total expenses before reorganization items																																														267,559,000				61,780,000	6,459,000	22,223,000	37,870,000	806,833,000	68,053,000	872,181,000	17,696,000	243,601,000
unrealized gain on securities, net of deferred income taxes of 0																																														185,163,000	88,722,000	-41,909,962,894	53,877,000	-136,008,000	94,098,000
gain on foreign currency translation, net of deferred income taxes of 0																																														17,144,000	4,284,000	43,164,972,864	39,798,000	43,426,000	-261,000	-115,000	1,686,000	-5,324,000	3,213,000
net income per diluted share attributable to ambac financial group, inc. common shareholders																																														-4.61	3.31	1.51	4.98	9.98	0.93			-2.68	0.84	-0.825	-0.25			-0.573	0.25			-0.498	7.58
total (benefit) expenses before reorganization items																																															-50,183,000	-5,939.25	-59,953,000
other loss																																																	-1,751,000
less: net income attributable to the noncontrolling interest																																																-416,999,633	32,000	-370,000	-47,000			-2,232,000		11,250	-2,000	14,000	33,000	-3,250	13,000	-15,000
amortization of postretirement benefit, net of tax of 0																																																		202,000	808,000
less: comprehensive income attributable to the noncontrolling interest:
total comprehensive income attributable to ambac financial group, inc																																																	324,236,000
other-than-temporary impairments:
less: net gain attributable to the noncontrolling interest																																																				-275,000	-171,000		2,000
other comprehensive loss after tax:
income																																																				-100,663,750	157,373,000
less: reclassification adjustment for net gain included in net																																																				13,779,000	-361,000
amortization of postretirement benefit, net of tax																																																				-948,000			-3,792,000
income per share attributable to ambac financial group, inc. common shareholders																																																				-0.33	0.52
income per diluted share attributable to ambac financial group, inc. common shareholders																																																				-0.33	0.52
loss attributable to common shareholders																																																						-811,118,000
less: reclassification adjustment for net gain included in net income																																																						59,529,000	-4,052,000
unrealized losses																																																							-10,476,000				-14,226,000									-657,710,500	-1,867,250,000		-1,725,172,000
pre-tax gain from continuing operations before reorganization items																																																							256,083,000	-219,869,000	8,021,000
pre-tax gain from continuing operations																																																							253,622,000	-229,817,500	-498,000
net income attributable to common shareholders.																																																							253,320,000
financial guarantee:
financial services:
net mark-to-market losses on non-trading derivative contracts
corporate and other:
net realized gains																																																												2,543,000	-521,000	10,693,000
interest from investment and payment agreements																																																								1,539,500	1,943,000	2,024,000	2,191,000	3,435,500	3,951,000	4,357,000	5,434,000	6,598,000	6,433,000	8,311,000	12,789,000	38,012,000	50,048,000	57,914,000								98,048,000	81,935,000	77,348,000	70,854,000	64,416,000	57,681,000	48,452,000	45,740,000	52,350,000	47,227,000	55,476,000	58,996,000
other expenses																																																								2,010,000	2,719,000	2,707,000	2,614,000	2,552,750	3,460,000	3,124,000	3,627,000	7,352,000	3,316,000	3,541,000	3,951,000	35,600,000	3,466,000									3,303,000	3,572,000	3,521,000	2,912,000	3,431,000	3,819,000	3,349,000	3,381,000	3,695,000	6,780,000	6,234,000	6,158,000
net income attributable to ambac financial group, inc.																																																								-249,304,500	-75,507,000			-63,596,000	76,006,000			-143,181,000	2,188,257,000
pre-tax loss from continuing operations before reorganization items																																																										-95,406,000	-792,091,000
pre-tax loss from continuing operations																																																										-101,876,000	-816,896,000			-57,696,000
net loss attributable to ambac financial group, inc.																																																										-102,432,000	-819,279,000			-57,559,000	-690,051,000			-2,368,794,000	-392,187,000
net loss per diluted share attributable to ambac financial group, inc. common shareholders																																																										-0.34	-2.71			-0.2	-2.39			-8.24
loss on variable interest entities																																																											-6,125,000
net change in fair value of total return swap contracts																																																																	6,902,000	22,052,000	-10,381,000
net mark-to-market gains on non-trading derivative contracts																																																												-3,573,750		-11,556,000	-2,739,000	10,485,000	-6,907,000	7,529,000	161,000	-1,242,000	-5,230,000	2,095,000
realized gains and losses and other settlements																																																															9,924,000	-182,821,750	-732,857,000	-5,053,000	6,623,000			15,035,000
less loss attributable to the noncontrolling interest																																																															-11,000
interest expense on variable interest entity notes																																																																2,833,000	2,658,000	2,430,000	2,747,000	3,185,000	3,367,000	3,379,000	3,557,000					9,333,750	12,754,000	11,958,000	12,623,000	12,432,000	11,623,000	11,816,000	11,579,000
less net loss attributable to the noncontrolling interest																																																																-4,000	-14,000
corporate:
less net income attributable to the noncontrolling interest																																																																		11,000	-13,000
gross premiums written																																																																				117,743,000	118,645,000	141,280,000	159,207,000	233,766,000	286,585,000	261,139,000	249,912,000	251,903,000	212,301,000	313,458,000	219,007,000	306,022,000	237,943,000	322,628,000	229,126,000	210,587,000	363,196,000	226,434,000	280,330,000	386,005,000	197,219,000	205,110,000	195,683,000
ceded premiums written																																																																				-16,553,000	4,371,000	-17,446,000	-23,534,000	-184,516,000	-35,095,000	-28,437,000	-29,484,000	-18,835,250	-26,351,000	-57,747,000	8,757,000	-37,966,000	-34,296,000	-54,038,000	26,627,000	-18,649,000	15,949,000	-33,886,000	-17,451,000	-42,313,000	-31,168,000	-26,854,000	-24,705,000
net premiums written																																																																				101,190,000	123,016,000	123,834,000	135,673,000	49,250,000	251,490,000	232,702,000	220,428,000	223,748,000	185,950,000	255,711,000	227,764,000	268,056,000	203,647,000	268,590,000	255,753,000	191,938,000	379,145,000	192,548,000	262,879,000	343,692,000	166,051,000	178,256,000	170,978,000
realized (losses) and gains and other settlements																																																																				-988,507,000	-837,929,000
net mark-to-market losses on total return swap contracts																																																																				-18,549,750	-28,600,000
net income per diluted share																																																																				-8.65	-8.45	2.8	-11.69	-31.81	-3.53	1.67	2.02	1.565	1.98	2.22	2.06
net mark-to-market gains on total return swap contracts																																																																						-4,671,000	-40,928,000	-22,678,000	-12,856,000	-982,000	3,215,000	-4,032,000	-501,000	1,818,000	5,223,000	3,585,000	2,347,000	-5,350,000
other incomes																																																																						3,297,000
pre-tax incomefrom continuing operations																																																																						1,507,385,000
net mark-to-market losses on non-trading derivatives																																																																							-1,833,000	-369,750	-1,320,000
loss and loss expenses																																																																							1,042,761,000	11,900,000	19,082,000	17,096,000	11,422,000	2,601,500	-2,543,000	12,822,000	127,000	33,563,750	89,126,000	21,657,000	23,472,000	17,700,000	17,500,000
interest on investment and payment agreements																																																																							89,003,000	78,020,500	112,000,000	101,124,000	98,958,000	65,656,000	97,126,000
corporate																																																																							16,076,000	2,444,250	2,857,000	3,664,000	3,256,000	9,881,000	3,036,000	4,000,000	3,643,000	3,703,000	3,548,000	5,461,000	2,282,000	2,678,000	2,601,000	2,189,000	1,938,000	2,227,000	8,273,000
income before income taxes																																																																							-2,790,784,000	6,598,750	-494,895,000	232,050,000	289,240,000	231,438,250	297,149,000	326,963,000	301,641,000	184,965,000	226,978,000	260,910,000	251,972,000	246,050,000	244,458,000	231,121,000	216,381,000	219,914,000	181,449,000	177,796,000	158,942,000
other credit enhancement fees																																																																								23,514,000	20,035,000	17,332,000	15,553,000	15,360,000	16,057,000	14,155,000	14,188,000	12,474,000	13,014,000	12,536,000	12,067,000	11,839,000	11,809,000	11,436,000	11,936,000	12,294,000	10,364,000	7,307,000	6,576,000
net premiums earned and other credit enhancement fees																																																																								233,155,000	214,830,000	238,351,000	231,559,000	223,516,000	214,556,000	224,943,000	208,368,000	217,520,000	231,112,000	205,778,000	211,701,000	195,338,000	201,402,000	176,871,000	171,562,000	164,286,000	145,116,000	129,703,000	120,206,000
net mark-to-market gains on credit derivative contracts																																																																								-5,199,021,000	-743,379,000	-56,867,000	-5,124,000	-838,000	2,572,000	5,381,000	1,953,000	18,403,000	1,555,000	-11,606,000	5,266,000	-330,000	3,256,000	6,962,000		10,002,000
net mark-to-market gains on non-trading derivatives																																																																										340,000	-499,000	-309,250	-1,175,000	-306,000	244,000	12,217,250	-57,000	48,235,000
net realized investment losses																																																																																						-24,000
income from continuing operations																																																																																-546,757,993.06	175,117,000	186,098,000	185,543,000	184,418,000	180,896,000	171,755,000
discontinued operations:
loss from discontinued operations																																																																																				-799,000	-310,000	-240,000
income tax benefit																																																																																					-124,000	-96,000
net loss from discontinued operations																																																																																				-959,000	-186,000	-144,000
earnings per share:
earnings per diluted share:
net mark-to-market gains on derivative hedge contracts																																																																																			691,000	22,000	41,000	63,000	11,000	51,000	677,000
variable interest entity																																																																																				861,000	839,000	1,061,000
income tax expense																																																																																				160,000
net mark-to-market losses on credit derivative contracts																																																																																							-4,053,000		-12,176,000
net securities gains																																																																																										-1,500,000	-4,510,000
revenue																																																																																										13,582,000	10,966,000
other:
net securities losses																																																																																										-127,000	-444,000
financial services																																																																																										5,380,000	5,699,000

Balance Sheets:

Quarterly

Annual

Unit: USD	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-09-30	2019-06-30	2019-03-31	2018-12-31	2018-09-30	2018-06-30	2018-03-31	2017-09-30	2017-06-30	2017-03-31	2016-12-31	2016-09-30	2016-06-30	2016-03-31	2015-12-31	2015-09-30	2015-06-30	2015-03-31	2014-12-31	2014-09-30	2014-06-30	2014-03-31	2013-12-31	2013-09-30	2013-06-30	2013-03-31	2012-12-31	2012-09-30	2012-06-30	2012-03-31	2011-12-31	2011-09-30	2011-06-30	2011-03-31	2010-12-31	2010-09-30	2010-06-30	2010-03-31	2009-12-31	2009-09-30	2009-06-30	2009-03-31	2008-12-31	2008-09-30	2008-06-30	2008-03-31	2007-12-31	2007-09-30	2007-06-30	2007-03-31	2006-12-31	2006-09-30	2006-06-30	2006-03-31	2005-12-31	2005-09-30	2005-06-30	2005-03-31	2004-12-31	2004-09-30	2004-06-30	2004-03-31	2003-12-31	2003-09-30	2003-06-30	2003-03-31	2002-12-31	2002-09-30	2002-06-30

assets:
investments:
fixed maturity securities - available-for-sale, at fair value	137,092,000		131,101,000	161,335,000	161,569,000		1,740,000,000	1,703,000,000	1,687,000,000		1,556,000,000	1,552,000,000	1,494,000,000		1,384,000,000	1,410,000,000	1,383,000,000
short-term investments, at fair value	92,295,000	146,442,000	295,825,000	102,720,000	101,610,000	127,601,000	305,000,000	314,000,000	382,000,000	426,000,000	421,000,000	365,000,000	367,000,000	507,000,000	523,000,000	452,000,000	540,000,000	414,000,000	368,000,000	416,000,000	397,000,000	492,000,000	586,000,000	692,000,000	586,000,000	664,441,000	772,299,000	908,235,000	430,331,000	562,060,000	393,447,000	321,119,000	716,516,000	504,006,000	347,055,000	430,788,000				225,789,000	364,780,000	197,070,000	220,980,000	360,065,000	550,900,000	344,187,000	215,103,000	271,119,000,000	549,229,000	611,177,000	767,932,000	661,658,000
other investments	24,971,000	24,971,000	28,302,000	28,193,000	28,214,000	28,294,000	561,000,000	558,000,000	558,000,000	475,000,000	461,000,000	530,000,000	557,000,000	568,000,000	559,000,000	598,000,000	660,000,000	690,000,000	663,000,000	657,000,000	600,000,000	595,000,000	502,000,000	401,000,000	363,000,000	462,427,000	469,438,000	428,556,000	391,217,000	411,604,000	394,396,000	419,896,000	439,987,000	452,032,000	478,688,000	450,307,000	419,885,000	410,727,000	320,847,000	310,600,000	314,934,000	354,784,000	332,609,000	357,016,000	290,870,000																																							808,000				1,106,000				650,000
total investments	254,358,000	293,708,000	455,228,000	292,248,000	291,393,000	312,915,000	2,634,000,000	2,632,000,000	2,682,000,000	2,664,000,000	2,492,000,000	2,510,000,000	2,509,000,000	2,593,000,000	2,640,000,000	2,547,000,000	2,815,000,000	2,955,000,000	2,948,000,000	3,447,000,000	3,458,000,000	3,544,000,000	3,551,000,000	3,466,000,000	3,400,000,000	3,939,121,000	3,930,332,000	4,040,503,000	3,937,223,000	4,279,151,000	4,387,411,000	4,697,193,000	6,234,045,000	6,339,161,000	6,334,650,000	6,500,215,000	6,605,986,000	6,521,481,000	6,472,786,000	5,644,720,000	5,701,562,000	5,479,178,000	5,484,152,000	5,507,034,000	7,062,029,000	6,766,102,000	6,749,445,000	6,523,727,000,000	6,685,613,000	6,601,164,000	6,512,262,000	6,329,932,000	6,440,117,000	6,687,109,000	6,944,817,000	6,876,990,000	7,063,199,000	7,079,534,000	6,983,082,000	6,853,311,000	6,780,255,000	6,567,482,000	9,716,358,000	9,229,168,000	9,828,782,000	9,929,154,000	9,623,487,000	10,292,817,000	13,755,347,000	17,140,372,000	18,074,462,000	18,395,670,000	19,045,779,000	18,003,329,000	17,625,049,000	17,433,589,000	17,608,125,000	17,145,733,000	16,442,291,000	15,981,383,000	15,712,435,000	15,907,006,000	15,117,599,000		14,229,523,000	13,957,011,000	14,168,041,000		13,590,748,000	13,796,949,000	13,680,809,000		11,665,964,000	11,627,769,000
cash and cash equivalents	93,537,000	68,440,000	51,767,000	46,383,000	51,660,000	47,275,000	70,000,000	35,000,000	44,000,000	28,000,000	46,000,000	43,000,000	48,000,000	44,000,000	29,000,000	32,000,000	60,000,000	17,000,000	14,000,000	13,000,000	23,000,000	20,000,000	37,000,000	17,000,000	58,000,000	51,951,000	17,514,000	21,840,000	63,089,000	52,505,000	44,398,000	38,485,000	107,018,000	54,238,000	118,772,000	91,025,000	21,218,000	23,044,000	29,142,000	35,744,000	27,099,000	33,965,000	26,641,000	73,903,000	43,332,000	74,461,000											21,316,000	17,379,000	7,626,000	9,497,000	69,673,000	56,677,000	114,808,000	113,230,000	149,554,000	1,130,259,000	107,866,000	107,811,000
premium receivables	87,653,000	75,085,000	74,760,000	71,875,000	64,563,000	57,222,000	342,000,000	317,000,000	299,000,000	290,000,000	278,000,000	276,000,000	272,000,000	269,000,000	268,000,000	311,000,000	317,000,000	323,000,000	327,000,000	345,000,000	356,000,000	370,000,000	372,000,000	392,000,000	403,000,000	414,744,000	441,526,000	487,397,000	495,391,000	517,197,000	553,958,000	580,707,000	601,757,000	653,176,000	652,677,000	661,337,000	706,228,000	741,414,000	782,078,000	831,575,000	895,446,000	936,924,000	951,999,000	1,000,607,000	1,266,632,000	1,356,362,000	1,418,114,000	1,453,021,000,000	1,436,010,000	1,464,898,000	1,543,098,000	1,620,621,000	1,755,830,000	1,829,874,000	1,917,536,000	2,028,479,000	2,103,193,000	1,924,925,000	2,290,920,000	2,422,596,000	2,802,811,000	2,789,353,000	2,941,546,000	3,718,158,000	4,016,775,000	4,360,680,000	4,460,670,000
commission and fees receivable	106,198,000	86,549,000	75,480,000	72,619,000	65,819,000	55,377,000
reinsurance recoverable on paid and unpaid losses	469,859,000	436,092,000	440,462,000	376,445,000	351,110,000	306,191,000	311,000,000	277,000,000	224,000,000	195,000,000	172,000,000	149,000,000	130,000,000	115,000,000	80,000,000	55,000,000	48,000,000	55,000,000	30,000,000	30,000,000	33,000,000	33,000,000	37,000,000	36,000,000	36,000,000	26,036,000	27,215,000	26,788,000	23,133,000	25,511,000	39,071,000	38,825,000	45,976,000	46,466,000	34,273,000	30,418,000	24,441,000	28,704,000	27,316,000	43,999,000	68,319,000	76,005,000	79,308,000	99,838,000	105,511,000	109,255,000	111,442,000	135,711,000,000	137,400,000	154,964,000	160,682,000	159,086,000	172,439,000	169,961,000	170,799,000	159,902,000	154,141,000	158,097,000	141,311,000	136,986,000	126,458,000	121,715,000	89,627,000	78,115,000	68,166,000	210,891,000	213,891,000	157,627,000	72,376,000	49,737,000	32,810,000	11,862,000	10,406,000	4,793,000	4,120,000	3,921,000	5,292,000	5,279,000	5,327,000	3,730,000	1,160,000	1,806,000	23,330,000		1,773,000	2,183,000	3,266,000		3,575,000	3,944,000	5,381,000
deferred ceded premium	145,420,000	146,365,000	160,906,000	155,582,000	144,914,000	148,300,000	242,000,000	232,000,000	217,000,000	204,000,000	205,000,000	198,000,000	135,000,000	124,000,000	99,000,000	104,000,000	100,000,000	90,000,000	90,000,000	80,000,000	74,000,000	70,000,000	73,000,000	75,000,000	79,000,000	76,495,000	56,272,000	58,868,000	61,134,000	45,204,000	47,886,000	49,631,000	54,773,000	59,471,000	63,336,000	69,624,000	74,630,000	82,055,000	86,502,000	96,758,000	105,673,000	112,247,000	117,688,000	123,276,000	127,596,000	134,278,000	142,280,000	145,529,000,000	152,076,000	159,165,000	170,032,000	177,893,000	190,540,000	197,437,000	202,226,000	221,303,000	229,451,000	232,935,000	250,291,000	264,858,000	318,616,000	386,665,000	395,517,000	500,804,000	549,199,000	959,411,000	1,149,690,000
policy acquisition costs	16,451,000	9,732,000	9,284,000	9,407,000
intangible assets, less accumulated amortization	458,380,000	474,998,000	339,197,000	353,904,000	345,061,000	344,775,000	598,000,000	285,000,000	293,000,000	307,000,000	312,000,000
goodwill	533,497,000	540,345,000	445,382,000	451,808,000	429,314,000	418,234,000	434,000,000	70,000,000	70,000,000	70,000,000	70,000,000	61,000,000	61,000,000	61,000,000	46,000,000	46,000,000	46,000,000	46,000,000																								514,511,000	514,511,000	514,511,000	514,511,000	514,511,000	514,511,000	514,511,000,000	514,511,000	514,511,000
other assets	101,673,000	92,003,000	95,424,000	99,698,000	107,829,000	92,317,000	228,000,000	163,000,000	129,000,000	129,000,000	94,000,000	89,000,000	85,000,000	84,000,000	85,000,000	83,000,000	94,000,000	68,000,000	114,000,000	121,000,000	115,000,000	114,000,000	60,000,000	145,000,000	144,000,000	113,189,000	190,566,000	90,977,000	112,788,000	22,191,000	33,631,000	36,332,000	48,228,000	70,025,000	77,294,000	158,423,000	239,663,000	252,163,000	221,206,000	185,877,000	199,294,000	163,075,000	221,252,000	186,985,000	173,219,000	127,898,000	72,865,000	35,927,000,000	41,349,000	33,738,000	40,365,000	39,715,000	63,759,000	103,804,000	58,875,000	104,300,000	126,672,000	127,174,000	75,959,000	82,579,000	216,644,000	173,270,000	224,776,000	229,311,000	700,497,000	433,677,000	622,645,000	759,595,000	277,298,000	178,471,000	175,562,000	100,484,000	122,544,000	120,533,000	114,393,000	107,005,000	113,619,000	105,885,000	101,649,000	160,126,000	150,132,000	139,262,000	165,091,000	26,126,000	69,577,000	76,175,000	72,467,000	24,523,000	43,978,000	46,833,000	49,115,000	15,960,000	49,290,000	648,212,000
total assets	2,267,026,000	2,223,317,000	2,147,890,000	8,522,386,000	8,253,282,000	8,058,378,000	9,256,000,000	8,184,000,000	8,429,000,000	8,428,000,000	7,847,000,000	8,132,000,000	8,219,000,000	7,973,000,000	9,412,000,000	10,061,000,000	11,531,000,000	12,303,000,000	12,228,000,000	12,907,000,000	12,840,000,000	13,220,000,000	12,812,000,000	12,761,000,000	12,777,000,000	13,451,104,000	14,713,066,000	15,022,899,000	14,588,711,000	15,093,464,000	21,535,223,000	22,847,966,000	23,292,583,000	23,005,443,000	22,763,560,000	22,635,702,000	24,015,629,000	23,199,111,000	23,718,591,000	23,728,070,000	24,266,919,000	25,513,636,000	25,386,610,000	25,159,864,000	26,590,785,000	27,723,353,000	27,114,248,000	27,106,939,000,000	28,633,638,000	27,475,367,000	26,164,660,000	27,007,164,000	26,947,892,000	26,611,791,000	27,372,884,000	27,113,695,000	27,626,582,000	27,940,429,000	27,410,304,000	29,047,113,000	31,328,239,000	30,055,785,000	35,815,677,000	18,886,367,000	18,099,056,000	20,045,165,000	20,182,397,000	17,256,398,000	20,446,175,000	22,875,081,000	24,919,262,000	23,565,011,000	21,981,091,000	21,061,741,000	20,111,860,000	20,267,813,000	21,010,691,000	20,273,770,000	19,736,382,000	19,725,140,000	19,062,301,000	19,529,924,000	18,625,776,000	5,859,405,000	16,992,417,000	16,851,506,000	17,457,448,000	5,086,148,000	16,344,435,000	16,797,299,000	16,344,942,000	4,286,664,000	14,688,079,000	13,869,466,000
liabilities and stockholders’ equity:
liabilities:
unearned premiums	198,681,000	187,178,000	197,133,000	191,060,000	181,387,000	182,446,000	458,000,000	445,000,000	429,000,000	422,000,000	407,000,000	394,000,000	389,000,000	372,000,000	359,000,000	385,000,000	393,000,000	395,000,000	402,000,000	421,000,000	438,000,000	456,000,000	468,000,000	492,000,000	507,000,000	527,771,000	556,908,000	591,397,000	629,971,000	669,820,000	721,689,000	762,240,000	817,538,000	893,456,000	924,686,000	967,258,000	1,048,754,000	1,122,946,000	1,192,796,000	1,280,282,000	1,428,230,000	1,528,269,000	1,583,615,000	1,673,785,000	1,953,392,000	2,070,312,000	2,167,764,000	2,255,680,000,000	2,303,627,000	2,372,807,000	2,623,445,000	2,778,401,000	2,985,542,000	3,138,275,000	3,291,152,000	3,457,157,000	3,520,801,000	3,408,568,000	3,821,726,000	4,007,886,000	4,442,271,000	4,714,527,000	4,926,807,000	5,687,114,000	6,100,656,000	6,594,046,000	6,929,790,000	2,382,152,000	2,547,414,000	2,786,546,000	3,059,295,000	3,123,860,000	3,128,278,000	3,061,673,000	3,045,911,000	3,037,544,000	3,030,641,000	3,042,128,000	2,966,959,000	2,954,718,000	2,875,956,000	2,892,168,000	2,788,930,000		2,731,657,000	2,727,315,000	2,576,080,000		2,470,122,000	2,371,250,000	2,163,232,000		1,926,789,000	1,869,659,000
loss and loss adjustment expense reserves	487,261,000	459,990,000	437,539,000	383,969,000	373,105,000	349,062,000	938,000,000	890,000,000	851,000,000	893,000,000	850,000,000	863,000,000	851,000,000	805,000,000
ceded premiums payable	89,148,000	80,561,000	87,635,000	90,557,000	81,358,000	53,002,000	165,000,000	140,000,000	110,000,000	90,000,000	95,000,000	96,000,000	38,000,000	39,000,000	33,000,000	44,000,000	40,000,000	33,000,000	33,000,000	33,000,000	24,000,000	27,000,000	27,000,000	27,000,000	28,000,000	29,950,000	30,795,000	31,745,000	32,913,000	34,306,000	35,594,000	36,451,000	38,593,000	39,664,000	40,201,000	42,529,000	43,511,000	45,727,000	47,338,000	53,494,000	57,651,000	58,002,000	59,268,000	60,436,000	61,104,000	64,740,000	69,892,000	85,424,000,000	86,028,000	89,435,000	92,085,000	94,527,000	94,089,000	98,279,000	99,643,000	115,555,000	120,843,000	121,887,000	134,248,000	141,450,000	182,725,000	224,740,000	223,747,000	291,843,000	329,849,000	576,944,000	665,137,000
deferred program fees and reinsurance commissions	6,929,000	6,978,000	7,754,000	7,346,000	7,176,000	7,500,000	8,000,000	7,000,000	7,000,000	6,000,000	7,000,000	6,000,000	6,000,000	5,000,000
commissions payable	118,086,000	115,555,000	109,317,000	96,875,000	81,017,000	71,431,000
deferred taxes	60,553,000	65,217,000	68,865,000	72,003,000	69,742,000	70,135,000	100,000,000												28,000,000	29,000,000	20,000,000	24,000,000	28,000,000	24,000,000	26,000,000	30,150,000	31,716,000	39,201,000	40,130,000	27,537,000	32,781,000	34,804,000	1,930,000	1,866,000	1,746,000	1,720,000	1,736,000	1,712,000	1,759,000	2,205,000	1,957,000	1,955,000	1,905,000	2,079,000	2,176,000	2,314,000	2,202,000	2,199,000,000	1,611,000	1,564,000	1,540,000	1,586,000												11,250,000		105,549,000	1,145,423,000	2,127,499,000	2,905,260,000	2,191,723,000	3,560,396,000	2,116,380,000	21,319,000
short-term debt				150,000,000	150,000,000	150,000,000	148,000,000
long-term debt	117,062,000	117,558,000					518,000,000	515,000,000	512,000,000	508,000,000	505,000,000	501,000,000	497,000,000	639,000,000	2,201,000,000	2,189,000,000	2,242,000,000	2,230,000,000	2,215,000,000	2,671,000,000	2,661,000,000	2,739,000,000	2,737,000,000	2,749,000,000	2,760,000,000	2,954,929,000	2,946,620,000	2,929,227,000	2,928,929,000	2,937,771,000	2,796,389,000	2,957,732,000	988,148,000	988,150,000	1,015,526,000	1,114,405,000	1,109,814,000	1,112,920,000	1,115,284,000	1,124,950,000	1,123,003,000	977,751,000	979,001,000	971,116,000	1,219,310,000	981,424,000	972,147,000	963,178,000,000	954,721,000	945,940,000	153,873,000	150,170,000	146,909,000	144,036,000	227,189,000	223,601,000	220,440,000	217,345,000	210,837,000	208,260,000	1,823,327,000	1,815,017,000	1,633,400,000	4,640,184,000	2,751,625,000	3,640,243,000	1,823,979,000	1,868,690,000	1,895,858,000	1,892,639,000	1,891,183,000	1,669,945,000	1,669,944,000	1,664,705,000	1,389,176,000	991,804,000	2,213,303,000	2,164,061,000	2,282,187,000	2,233,582,000	1,860,727,000	1,836,277,000	1,888,886,000
accrued interest payable	1,305,000	1,343,000		2,944,000	2,695,000	2,560,000	515,000,000	500,000,000	487,000,000	475,000,000	462,000,000	450,000,000	438,000,000	427,000,000	576,000,000	559,000,000	593,000,000	576,000,000	555,000,000	532,000,000	516,000,000	517,000,000	499,000,000	474,000,000	457,000,000	423,815,000	407,096,000	391,335,000	375,808,000	356,711,000	237,558,000	244,199,000	417,522,000	397,974,000	396,924,000	421,975,000	400,737,000	380,117,000	371,688,000	355,536,000	334,999,000	339,006,000	322,408,000	304,139,000	376,773,000	339,975,000	317,052,000	294,817,000,000	271,330,000	249,387,000	246,378,000	228,835,000	210,108,000	192,984,000	196,853,000	170,169,000	141,162,000	114,451,000	86,387,000	61,708,000	90,975,000	58,345,000	47,070,000	50,607,000	41,948,000	67,517,000	27,318,000	68,806,000	67,328,000	80,477,000	67,686,000	113,443,000	116,624,000	93,855,000	103,685,000	105,129,000	108,247,000	78,321,000	88,550,000	108,195,000	79,581,000	68,522,000	55,389,000	6,203,000	59,932,000	56,917,000	47,012,000	6,203,000	64,547,000	67,415,000	54,621,000	6,275,000	70,278,000	78,630,000
other liabilities	158,458,000	102,771,000	92,226,000	95,900,000	91,429,000	89,036,000	262,000,000	203,000,000	259,000,000	199,000,000	168,000,000	136,000,000	141,000,000	163,000,000	244,000,000	124,000,000	135,000,000	133,000,000	108,000,000	102,000,000	123,000,000	106,000,000	91,000,000	83,000,000	131,000,000	95,267,000	137,757,000	71,402,000	62,085,000	61,533,000	58,191,000	55,209,000	65,840,000	72,582,000	67,881,000	76,589,000	52,177,000	59,040,000	68,693,000	61,134,000	59,809,000	57,653,000	56,914,000	63,396,000	66,101,000	60,086,000	58,819,000	67,377,000,000	77,270,000	86,663,000	91,057,000	102,488,000	98,161,000	94,678,000	97,144,000	107,441,000	107,242,000	101,156,000	117,398,000	124,748,000	138,301,000	140,999,000	226,236,000	248,715,000	253,670,000	313,824,000	291,443,000	279,616,000	206,590,000	204,322,000	231,105,000	270,734,000	322,449,000	317,018,000	225,090,000	275,670,000	254,577,000	243,559,000	211,199,000	253,969,000	240,928,000	204,209,000	202,556,000	27,964,000	225,158,000	233,663,000	227,659,000	24,670,000	163,184,000	148,614,000	131,086,000	29,553,000	138,175,000	595,637,000
total liabilities	1,237,483,000	1,137,151,000	1,000,469,000	7,303,678,000	7,041,817,000	6,862,857,000	7,383,000,000	6,748,000,000	6,993,000,000	6,997,000,000	6,507,000,000	6,809,000,000	6,892,000,000	6,647,000,000	8,324,000,000	9,198,000,000	10,538,000,000	11,187,000,000	11,088,000,000	11,764,000,000	11,697,000,000	12,074,000,000	11,718,000,000	11,632,000,000	11,716,000,000	11,822,440,000	13,160,150,000	13,357,011,000	12,955,564,000	13,294,655,000	19,471,302,000	20,738,801,000	21,520,446,000	21,067,230,000	20,874,644,000	20,657,678,000	21,839,255,000	21,136,274,000	21,706,960,000	21,769,724,000	22,637,882,000	23,466,425,000	23,548,889,000	23,486,129,000	25,340,095,000	26,499,822,000	25,885,437,000	26,128,517,000,000	27,746,888,000	26,913,300,000	29,034,730,000	30,254,131,000	30,435,405,000	30,367,170,000	30,286,526,000	30,263,228,000	29,807,158,000	30,014,410,000	29,504,201,000	30,401,341,000	32,545,819,000	31,478,464,000	37,292,462,000	20,520,012,000	20,273,597,000	24,631,609,000	23,367,864,000	21,038,707,000	21,333,087,000	20,935,612,000	23,633,524,000	21,285,118,000	16,331,179,000	15,019,912,000	14,122,681,000	14,083,624,000	15,005,374,000	14,643,549,000	14,261,495,000	14,352,933,000	13,868,306,000	14,236,850,000	13,512,548,000	834,948,000	12,183,579,000	12,387,293,000	12,927,920,000	831,590,000	12,255,148,000	12,755,797,000	12,581,430,000	661,485,000	11,067,955,000	10,508,265,000
commitments and contingencies
redeemable noncontrolling interest	195,969,000	252,981,000	188,247,000	190,347,000	185,417,000	140,860,000	204,000,000	17,000,000	17,000,000	17,000,000	22,000,000	20,000,000	20,000,000	20,000,000	18,000,000	18,000,000	18,000,000	18,000,000	20,000,000	20,000,000	20,000,000	7,000,000
stockholders’ equity:
preferred stock, par value 0.01 per share...
common stock, par value 0.01 per share...	489,000	489,000	489,000	489,000	489,000	489,000																				456,000	456,000	456,000	454,000	454,000	454,000	454,000	453,000	453,000	453,000	452,000	451,000	451,000	450,000	450,000	450,000	450,000	450,000	450,000	450,000	450,000	450,000					3,080,000				3,080,000								2,944,000				2,944,000				1,092,000				1,092,000				1,092,000				1,089,000				1,073,000				1,062,000
additional paid-in capital	380,263,000	369,860,000	367,077,000	347,939,000	333,356,000	331,007,000	328,000,000	295,000,000	291,000,000	292,000,000	286,000,000	283,000,000	278,000,000	274,000,000	270,000,000	267,000,000	262,000,000	257,000,000	253,000,000	249,000,000	246,000,000	242,000,000	240,000,000	237,000,000	235,000,000	229,128,000	226,794,000	223,545,000	219,429,000	218,050,000	208,328,000	204,172,000	198,629,000	197,652,000	196,788,000	195,267,000	194,383,000	193,074,000	191,895,000	190,813,000	189,981,000	190,414,000	189,533,000	189,138,000	188,648,000	188,060,000	187,210,000	185,672,000,000	184,566,000	184,565,000	2,172,027,000	2,172,027,000	2,172,027,000	2,172,027,000	2,172,027,000	2,172,027,000	2,172,027,000	2,172,027,000	2,187,593,000		2,186,372,000	2,185,134,000	2,174,247,000	2,172,656,000	2,171,848,000	2,038,540,000	2,035,191,000	2,030,031,000	2,028,141,000	2,031,159,000	2,024,504,000	839,952,000	836,742,000	829,853,000	814,223,000	790,168,000	755,749,000	745,337,000	739,664,000	723,680,000	716,870,000	711,294,000	702,409,000	694,465,000	672,411,000	670,293,000	646,989,000	606,468,000	581,083,000	573,797,000	553,078,000	550,289,000	548,823,000	549,509,000
accumulated other comprehensive income	1,224,000	8,483,000	11,780,000	-66,013,000	-133,168,000	-188,436,000	-81,000,000	-175,000,000	-175,000,000	-160,000,000	-262,000,000	-209,000,000	-217,000,000	-253,000,000	-315,000,000	-196,000,000	-70,000,000	58,000,000	64,000,000	87,000,000	61,000,000	79,000,000	22,000,000	-48,000,000	-149,000,000	26,407,000	19,088,000	22,542,000	-48,715,000	97,825,000	45,854,000	99,476,000	62,680,000	38,828,000	-2,775,000	-38,990,000	61,917,000	50,775,000	58,012,000	15,215,000	72,887,000	95,362,000	169,329,000	220,283,000	250,865,000	306,328,000	104,417,000	11,661,000,000	-10,246,000	-103,507,000	720,071,000	625,385,000	527,969,000	417,593,000	445,797,000	463,259,000	478,218,000	509,300,000	371,235,000		347,738,000	219,939,000								-727,721,000	-554,578,000	-22,138,000	71,300,000	69,341,000	187,605,000	197,576,000	199,752,000	42,323,000	117,205,000	202,312,000	235,502,000	338,521,000	206,212,000	296,814,000	285,192,000	120,035,000	353,500,000	266,919,000	271,493,000	378,273,000	272,776,000	265,427,000	319,793,000	158,746,000
retained earnings	363,751,000	370,431,000	491,733,000	607,548,000	681,489,000	742,185,000	1,235,000,000	1,265,000,000	1,266,000,000	1,246,000,000	1,257,000,000	1,191,000,000	1,206,000,000	1,245,000,000	1,068,000,000	728,000,000	723,000,000	726,000,000	746,000,000	732,000,000	761,000,000	759,000,000	773,000,000	881,000,000	917,000,000	1,313,052,000	1,246,990,000	1,376,244,000	1,421,302,000	1,441,857,000	1,545,702,000	1,541,464,000	1,246,736,000	1,437,641,000	1,431,397,000	1,557,681,000	1,652,846,000	1,551,724,000	1,494,181,000	1,478,439,000								505,219,000,000	436,656,000	205,681,000																				1,268,866,000	449,801,000	2,107,773,000	5,387,639,000	5,773,888,000	5,626,344,000	5,454,575,000	5,265,443,000	5,083,048,000	4,864,748,000	4,692,701,000	4,520,475,000	4,368,225,000	4,203,859,000	4,032,089,000	3,860,248,000	3,698,656,000	3,534,042,000	3,380,098,000	3,235,642,000	3,088,365,000	2,946,246,000	2,820,281,000	2,772,509,000	2,652,042,000
treasury stock	-33,109,000	-33,473,000	-27,695,000	-30,124,000	-29,945,000	-28,339,000	-17,000,000	-17,000,000	-17,000,000	-17,000,000	-17,000,000	-15,000,000	-14,000,000	-15,000,000	-15,000,000	-16,000,000	-2,000,000	-3,000,000	-3,000,000	-5,000,000	-5,000,000	-1,000,000	-1,000,000	-1,000,000	-2,000,000	-347,000	-380,000	-813,000	-473,000	-527,000	-527,000	-511,000	-471,000	-471,000	-1,057,000	-496,000			-12,000	-118,000	-256,000	-56,000	-56,000
total octave specialty group, inc. stockholders’ equity	712,618,000	715,790,000
nonredeemable noncontrolling interest	120,956,000	117,395,000	115,790,000	168,522,000	173,827,000	197,755,000	205,000,000	51,000,000	53,000,000	53,000,000	53,000,000	53,000,000	53,000,000	53,000,000	62,000,000	62,000,000	60,000,000	60,000,000	60,000,000	60,000,000	60,000,000	60,000,000
total stockholders’ equity	833,574,000	833,185,000	959,174,000	1,028,361,000	1,026,048,000	1,054,661,000	1,670,000,000	1,419,000,000	1,418,000,000	1,415,000,000	1,318,000,000	1,303,000,000	1,307,000,000	1,305,000,000	1,071,000,000	846,000,000	974,000,000	1,098,000,000	1,121,000,000	1,123,000,000	1,123,000,000	1,140,000,000	1,095,000,000	1,129,000,000	1,062,000,000	1,628,664,000	1,552,916,000	1,665,888,000	1,633,147,000	1,798,809,000	2,063,921,000	2,109,165,000	1,772,137,000	1,938,213,000	1,888,916,000	1,978,024,000	2,176,374,000	2,062,837,000	2,011,631,000	1,958,346,000	1,629,037,000	2,047,211,000	1,837,721,000	1,673,735,000	1,250,690,000	1,223,531,000	1,228,811,000	978,422,000,000	886,750,000	562,067,000																		-3,782,309,000	-886,912,000	1,939,469,000	1,285,738,000	2,279,893,000	5,649,912,000	6,041,829,000	5,989,179,000	6,184,189,000	6,005,317,000	5,630,221,000	5,474,887,000	5,372,207,000	5,193,995,000	5,293,074,000	5,113,228,000	5,024,457,000	4,808,838,000	4,464,213,000	4,529,528,000	4,254,558,000	4,089,287,000	4,041,502,000	3,763,512,000	3,625,179,000	3,620,124,000	3,361,201,000
total liabilities, redeemable noncontrolling interest and stockholders’ equity	2,267,026,000	2,223,317,000	2,147,890,000	8,522,386,000	8,253,282,000	8,058,378,000	9,256,000,000	8,184,000,000	8,429,000,000	8,428,000,000	7,847,000,000	8,132,000,000	8,219,000,000	7,973,000,000	9,412,000,000	10,061,000,000	11,531,000,000	12,303,000,000	12,228,000,000	12,907,000,000	12,840,000,000	13,220,000,000
fixed maturity securities, at fair value		122,295,000				157,020,000	2,238,000,000	2,101,000,000	2,162,000,000	1,710,000,000	1,948,000,000	2,056,000,000	2,119,000,000	1,395,000,000	2,119,000,000	2,642,000,000	3,364,000,000	1,730,000,000	1,797,000,000	2,253,000,000	2,341,000,000	2,317,000,000
assets of discontinued operations
liabilities of discontinued operations
total ambac financial group, inc. stockholders’ equity			843,384,000	859,839,000	852,221,000	856,906,000	1,465,000,000	1,368,000,000	1,365,000,000	1,362,000,000	1,265,000,000	1,250,000,000	1,254,000,000	1,252,000,000	1,009,000,000	784,000,000	914,000,000	1,038,000,000	1,061,000,000	1,063,000,000	1,063,000,000	1,080,000,000	1,035,000,000	1,069,000,000	1,002,000,000	1,568,696,000	1,492,948,000	1,621,974,000	1,591,997,000	1,757,659,000	1,799,811,000	1,845,055,000	1,508,027,000	1,674,103,000	1,624,806,000	1,713,914,000	1,909,597,000	1,796,024,000	1,744,526,000	1,684,799,000	1,355,008,000	1,772,866,000	1,563,257,000	1,399,105,000	975,650,000	948,075,000	953,219,000	702,983,000,000	611,426,000	287,189,000
assets held-for-sale				6,592,417,000	6,392,004,000	6,267,200,000
liabilities held-for-sale				6,213,024,000	6,003,908,000	5,887,685,000
deferred acquisition costs					9,615,000	8,572,000	13,000,000	12,000,000	12,000,000	11,000,000	8,000,000	4,000,000	4,000,000	3,000,000																																					192,306,000	199,160,000	205,818,000	211,907,000	219,001,000	223,510,000	225,429,000	238,225,000	247,746,000	250,649,000	251,971,000	263,258,000	273,405,000	279,704,000	300,127,000	210,368,000	189,263,000	207,229,000	221,788,000	227,827,000	239,799,000	255,639,000	277,619,000	271,235,000	263,282,000	252,115,000	220,252,000	213,086,000	215,436,000	202,195,000	201,734,000	198,805,000	201,643,000		194,186,000	190,299,000	176,523,000		179,841,000	174,646,000	174,440,000		172,718,000	170,345,000
fixed maturity securities pledged as collateral, at fair value							27,000,000	25,000,000	26,000,000						15,000,000	15,000,000	15,000,000	15,000,000	15,000,000	15,000,000	15,000,000	15,000,000
fixed maturity securities - trading, at fair value								31,000,000	29,000,000	27,000,000	28,000,000	28,000,000	29,000,000	59,000,000	105,000,000
short-term investments pledged as collateral, at fair value										27,000,000	27,000,000	36,000,000	61,000,000	64,000,000	55,000,000	70,000,000	99,000,000	105,000,000	105,000,000	105,000,000	105,000,000	125,000,000	152,000,000	155,000,000	85,000,000
subrogation recoverable							124,000,000	128,000,000	130,000,000	137,000,000	179,000,000	139,000,000	146,000,000	271,000,000	1,949,000,000	1,667,000,000	1,714,000,000	2,092,000,000	2,113,000,000	2,097,000,000	2,076,000,000	2,156,000,000	2,194,000,000	2,215,000,000	2,192,000,000	2,082,268,000	1,984,826,000	1,916,117,000	1,932,960,000	1,898,611,000	1,876,188,000	1,894,778,000	703,930,000	658,875,000	679,974,000	684,731,000	703,621,000	677,157,000	660,471,000	1,229,293,000	982,202,000	981,402,000	984,129,000	953,274,000	489,237,000	484,152,000	512,235,000	498,478,000,000	484,605,000	501,087,000	545,007,000	497,346,000	514,084,000	442,097,000	519,404,000	659,810,000	714,496,000	739,658,000	796,622,000	714,270,000	1,222,216,000	1,046,610,000	877,908,000	902,612,000	570,133,000	198,431,000	197,690,000
variable interest entity assets:
restricted cash							47,000,000	62,000,000	252,000,000	246,000,000	256,000,000	266,000,000	256,000,000	17,000,000	6,000,000	5,000,000	7,000,000	5,000,000	6,000,000	17,000,000	16,000,000	13,000,000	10,000,000	15,000,000	31,000,000	12,561,000			19,405,000	1,024,000	1,052,000	1,134,000	37,793,000	5,015,000	5,005,000	4,873,000	5,477,000	5,461,000	5,642,000	5,822,000	5,895,000	5,944,000	6,219,000	7,708,000	7,337,000	7,712,000	8,552,000	17,498,000,000	23,045,000	22,994,000	2,258,000		2,500,000	2,500,000	2,500,000	2,500,000			2,500,000	2,500,000	1,952,000	1,977,000	100,941,000
loans, at fair value							1,651,000,000	1,567,000,000	1,604,000,000	1,663,000,000	1,551,000,000	1,772,000,000	1,856,000,000	1,829,000,000	1,682,000,000	2,144,000,000	2,469,000,000	2,718,000,000	2,784,000,000	2,943,000,000	2,948,000,000	2,998,000,000	2,783,000,000	2,787,000,000	2,932,000,000	2,965,539,000	4,288,572,000	4,375,761,000	4,287,664,000	4,563,091,000	10,751,199,000	11,558,331,000	11,557,788,000	11,301,298,000	11,015,305,000	10,658,963,000	11,476,766,000	11,074,772,000	11,516,242,000	11,690,324,000	12,183,061,000	13,005,216,000	12,789,201,000	12,371,177,000	12,503,484,000	13,743,231,000	13,269,452,000
derivative and other assets							326,000,000	303,000,000	313,000,000	318,000,000	220,000,000	226,000,000	244,000,000	241,000,000
variable interest entity liabilities:
derivative liabilities							1,223,000,000	1,136,000,000	1,170,000,000	1,197,000,000	22,000,000	37,000,000	44,000,000	38,000,000	40,000,000	61,000,000	76,000,000	95,000,000	94,000,000	98,000,000	86,000,000	114,000,000	126,000,000	134,000,000	137,000,000	103,314,000	88,245,000	86,534,000	76,699,000	61,331,000	67,648,000	71,584,000	90,899,000	91,549,000	244,235,000	319,286,000	435,410,000	437,163,000	408,331,000	353,358,000	375,835,000	342,784,000	447,356,000	406,944,000	348,427,000	342,273,000	300,840,000	253,898,000,000	400,382,000	451,790,000	505,746,000	453,214,000	455,587,000	394,040,000	387,476,000	414,508,000	456,522,000	364,913,000	352,345,000	348,791,000	486,878,000	452,136,000	3,636,091,000	3,536,858,000	4,652,390,000	7,608,133,000	8,146,454,000	10,089,895,000	9,419,466,000	7,451,522,000	8,744,697,000	6,685,528,000	1,451,392,000	675,290,000	654,070,000	667,066,000	846,911,000	650,188,000	699,974,000	935,440,000	987,545,000	1,187,863,000	910,512,000
derivative assets											15,000,000	26,000,000	31,000,000	27,000,000	28,000,000	40,000,000	55,000,000	76,000,000	78,000,000	82,000,000	74,000,000	93,000,000	95,000,000	97,000,000	88,000,000	82,162,000	72,376,000	76,400,000	59,468,000	50,262,000	56,510,000	60,196,000	77,287,000	79,047,000	74,397,000	77,742,000	103,373,000	104,353,000	97,559,000	84,995,000	91,088,000	80,661,000	113,622,000	109,017,000	91,320,000	89,680,000	81,911,000	77,711,000,000	82,962,000	91,178,000	112,811,000	48,005,000	97,464,000	132,914,000	272,658,000	175,207,000	205,215,000	248,950,000	300,849,000	290,299,000	298,757,000	504,125,000	433,688,000	605,905,000	1,187,636,000	1,550,781,000	1,847,952,000	2,187,214,000	904,151,000	918,490,000	1,265,156,000	990,534,000	1,000,569,000	939,658,000	995,236,000	1,019,339,000	1,125,519,000	878,594,000	862,674,000	1,101,948,000	1,145,224,000	1,379,604,000	1,143,185,000
intangible assets												317,000,000	321,000,000	326,000,000	318,000,000	330,000,000	350,000,000	362,000,000	364,000,000	377,000,000	391,000,000	409,000,000																										76,140,000,000	159,505,000	162,012,000							254,163,000	318,180,000
loss and loss expense reserves															1,009,000,000	1,019,000,000	1,067,000,000	1,570,000,000	1,565,000,000	1,641,000,000	1,662,000,000	1,759,000,000	1,801,000,000	1,814,000,000	1,797,000,000	1,522,304,000	1,494,106,000	1,694,163,000	1,826,078,000	1,868,484,000	2,057,334,000	2,139,101,000	4,704,285,000	4,582,153,000	4,510,329,000	4,380,769,000	4,207,535,000	4,327,938,000	4,303,547,000	4,088,106,000	4,237,515,000	4,367,414,000	4,475,991,000	4,752,007,000	6,003,474,000	6,072,323,000																																							229,586,000	238,091,000
fixed maturity securities - trading																2,000,000	119,000,000
current taxes																			2,000,000	3,000,000	2,000,000		2,000,000	18,000,000	16,000,000	19,663,000	14,092,000	42,830,000	47,040,000	32,509,000	34,619,000	20,180,000	18,484,000	26,082,000	25,936,000	14,280,000	16,750,000	4,858,000	3,372,000	5,835,000	985,000	1,670,000	2,333,000	5,701,000	785,000	1,488,000	3,761,000	738,000,000	3,589,000	4,224,000	97,274,000	96,778,000	97,379,000	96,752,000	97,449,000	95,709,000	98,532,000	23,435,000	24,884,000					421,438,000	50,567,000			192,669,000
fixed income securities, at fair value																							2,311,000,000	2,218,000,000	2,367,000,000	2,727,305,000	2,604,177,000	2,619,811,000	3,115,675,000	3,221,301,000	3,514,927,000	3,871,938,000	4,978,118,000	5,318,195,000	5,443,999,000	5,554,215,000	2,828,685,000	2,577,293,000	2,622,724,000	5,043,776,000	4,956,876,000	4,892,421,000	4,865,750,000	4,725,686,000	6,156,228,000	6,100,431,000	6,168,689,000	5,885,316,000,000	5,758,665,000	5,585,275,000	5,402,290,000	5,402,395,000	5,440,690,000	5,390,290,000	5,763,133,000	5,830,289,000	5,976,941,000	5,872,977,000	6,083,472,000	6,020,895,000	5,968,020,000	5,925,170,000	7,009,095,000	8,098,517,000	8,233,730,000	8,685,953,000	8,357,554,000	8,537,676,000	12,407,606,000	15,519,216,000	16,507,745,000	17,127,485,000	17,984,060,000	17,385,817,000	16,888,069,000	16,800,338,000	16,855,600,000	16,517,931,000	15,811,299,000	15,124,016,000	15,155,998,000	15,260,922,000	14,336,984,000		13,530,312,000	13,057,681,000	13,240,910,000	17,152,000	12,827,430,000	12,885,401,000	12,829,600,000	17,597,000	10,710,694,000	10,456,533,000
insurance intangible asset																							383,000,000	392,000,000	406,000,000	433,524,000	454,830,000	689,255,000	718,931,000	755,734,000	786,208,000	833,040,000	877,972,000	912,173,000	931,159,000	962,080,000	1,022,865,000	1,075,605,000	1,149,966,000	1,212,112,000	1,279,448,000	1,339,427,000	1,347,295,000	1,410,920,000	1,475,012,000	1,549,384,000	1,570,070,000	1,597,965,000,000	1,620,952,000	1,621,612,000
noncontrolling interest																							60,000,000	60,000,000	60,000,000	59,968,000	59,968,000	43,914,000	41,150,000	41,150,000	264,110,000	264,110,000	264,110,000	264,110,000	264,110,000	264,110,000	266,777,000	266,813,000	267,105,000	273,547,000	274,029,000	274,345,000	274,464,000	274,630,000	275,040,000	275,456,000	275,592,000	275,439,000,000	275,324,000	274,878,000	660,472,000	660,560,000	661,006,000	661,060,000	663,475,000	663,442,000	654,226,000	654,232,000	654,385,000		654,531,000	654,426,000	654,060,000	654,140,000	653,903,000	792,688,000	792,644,000
total liabilities and stockholders’ equity																							12,812,000,000	12,761,000,000	12,777,000,000	13,451,104,000	14,713,066,000	15,022,899,000	14,588,711,000	15,093,464,000	21,535,223,000	22,847,966,000	23,292,583,000	23,005,443,000	22,763,560,000	22,635,702,000	24,015,629,000	23,199,111,000	23,718,591,000	23,728,070,000	24,266,919,000	25,513,636,000	25,386,610,000	25,159,864,000	26,590,785,000	27,723,353,000	27,114,248,000	27,106,939,000,000	28,633,638,000	27,475,367,000																		17,256,398,000	20,446,175,000	22,875,081,000	24,919,262,000	23,565,011,000	21,981,091,000	21,061,741,000	20,111,860,000	20,267,813,000	21,010,691,000	20,273,770,000	19,736,382,000	19,725,140,000	19,062,301,000	19,529,924,000	18,625,776,000	5,859,405,000	16,992,417,000	16,851,506,000	17,457,448,000	5,086,148,000	16,344,435,000	16,797,299,000	16,344,942,000	4,286,664,000	14,688,079,000	13,869,466,000
fixed income securities pledged as collateral, at fair value																										84,948,000	84,418,000	83,901,000		84,186,000	84,641,000	84,240,000	99,424,000	64,928,000	64,908,000	64,905,000				64,555,000	64,972,000	34,903,000	64,813,000	64,267,000	64,031,000	65,029,000	125,123,000	126,223,000,000	140,273,000	164,295,000	228,228,000	265,779,000	285,860,000	286,660,000	287,762,000	263,530,000	262,032,000	140,104,000	107,084,000	123,519,000	194,387,000	127,432,000	103,400,000	167,366,000	248,829,000	180,375,000	246,475,000	286,853,000		116,503,000		374,840,000	360,799,000	285,605,000	452,324,000	307,101,000	375,288,000	371,702,000	412,659,000	371,160,000	376,928,000	409,004,000	348,296,000		518,053,000	656,938,000	696,089,000		594,499,000	518,606,000	633,073,000		815,742,000	948,177,000
receivable for securities																													3,351,000	46,376,000	82,513,000	2,376,000	68,686,000	3,218,000	2,815,000	2,090,000	98,406,000	2,400,000	10,196,000	44,030,000	9,749,000	2,890,000	8,779,000	23,660,000	33,836,000	31,107,000	36,447,000	14,450,000,000	19,339,000	2,221,000	40,822,000	761,000	10,005,000	112,013,000	108,185,000	38,164,000																										49,491,000	79,898,000
investment income due and accrued																													11,576,000	10,709,000	12,157,000	20,457,000	20,137,000	24,258,000	27,288,000	26,023,000	25,456,000	25,082,000	25,386,000	25,264,000	25,113,000	25,279,000	24,994,000	25,015,000	32,818,000	34,518,000	34,641,000	37,663,000,000	34,115,000	35,718,000	33,944,000	39,742,000	37,182,000	42,651,000	39,831,000	45,328,000	41,008,000	45,562,000	39,715,000	45,066,000	37,346,000	47,995,000	46,575,000	77,195,000	66,899,000	81,840,000	76,248,000	116,769,000	139,967,000	174,382,000	145,969,000	202,737,000	175,215,000	183,207,000	154,614,000	193,199,000	182,942,000	182,352,000	150,362,000	178,779,000	155,715,000	159,483,000	138,931,000		143,930,000	142,361,000	125,957,000		140,456,000	141,911,000	121,911,000		127,961,000	156,133,000
loans																													9,913,000	10,082,000	10,007,000	10,643,000	10,390,000	10,125,000	4,237,000	4,160,000	4,513,000	4,615,000	5,109,000	5,206,000	5,499,000	5,674,000	5,494,000	5,714,000	6,057,000	6,349,000	6,250,000	6,179,000,000	6,148,000	7,053,000	8,691,000	9,203,000	10,380,000	10,153,000	19,243,000	18,996,000	20,035,000	20,271,000	20,397,000	20,167,000	20,999,000	70,849,000	71,090,000	2,716,371,000	607,949,000	581,463,000	333,051,000	798,848,000	830,985,000	827,054,000	830,063,000	867,676,000	870,637,000	861,364,000	602,624,000	625,422,000	1,199,287,000	1,196,678,000	1,321,016,000	1,344,140,000	1,347,136,000	1,352,328,000	1,365,827,000		676,690,000	835,429,000	832,959,000		837,226,000	820,447,000	838,609,000		848,399,000	932,213,000
payable for securities purchased																													1,707,000	31,292,000	16,556,000	8,849,000	55,486,000	6,126,000	15,983,000	1,084,000	201,980,000	54,696,000	16,760,000	84,690,000	87,697,000	5,494,000	34,559,000	762,000	27,263,000	15,358,000	79,697,000	4,654,000,000	82,144,000	42,901,000	17,051,000	25,000	15,009,000	5,328,000	37,856,000	1,665,000	7,481,000	17,849,000	76,361,000		2,486,000	24,151,000	399,959,000	2,074,000	22,560,000	7,746,000	3,471,000	10,256,000	7,969,000	3,054,000	91,825,000	645,000	30,852,000	168,850,000	44,266,000	95,973,000	6,588,000	144,745,000	169,996,000	11,641,000	143,379,000	130,690,000	157,560,000		79,890,000	265,126,000	158,659,000		379,584,000	447,625,000	140,321,000		241,036,000	158,027,000
long-term debt, at fair value																													5,268,596,000	5,585,860,000	11,454,746,000	12,270,124,000	12,229,569,000	11,902,682,000	11,564,054,000	11,155,936,000	11,930,434,000	11,444,892,000	11,998,561,000	12,327,960,000	12,791,012,000	13,595,792,000	13,341,902,000	12,882,076,000	13,159,174,000	14,450,434,000	13,878,577,000
obligations under investment agreements																																				82,358,000	82,358,000	82,358,000	100,358,000	100,358,000	100,358,000	112,215,000	111,967,000	160,079,000	160,515,000	169,582,000	359,993,000	359,070,000,000	359,484,000	358,610,000	357,371,000	356,091,000	397,570,000	424,840,000	523,831,000	523,046,000	556,204,000	556,458,000
fixed income securities, available for sale, at fair value																																					5,990,397,000	5,709,464,000	5,650,261,000
fixed income securities pledged as collateral, available for sale, at fair value																																					64,972,000	65,068,000	64,918,000
short-term investments, available for sale, at fair value																																					130,732,000	336,222,000	436,760,000
accumulated earnings																																									1,091,946,000	1,486,696,000	1,204,001,000	989,290,000	535,706,000	453,256,000	661,161,000
common stock held in treasury at cost, 2,459 shares at december 31, 2014 and 937 shares at december 31, 2013																																												-56,000
common stock held in treasury at cost, 937 shares at september 30, 2014 and december 31, 2013																																													-19,000
other investments, at fair value																																														256,455,000	240,530,000	241,069,000,000	237,446,000	240,417,000	113,812,000
common stock held in treasury at cost, 937 shares at june 30, 2014 and december 31, 2013																																														-19,000
cash																																															31,700,000	77,370,000,000	28,551,000	20,515,000	53,135,000	43,837,000	90,065,000	49,012,000	39,931,000	15,999,000													92,380,000	105,596,000	99,229,000	123,933,000	26,814,000	35,729,000	31,489,000	31,868,000	42,182,000	32,795,000	26,497,000	28,295,000	28,468,000	36,560,000	41,699,000	456,000	25,838,000	33,164,000	20,046,000	323,000	37,001,000	26,980,000	51,056,000	211,000	32,342,000	27,713,000
losses and loss expense reserve																																															5,826,168,000	5,968,712,000,000	5,884,660,000	6,042,649,000	6,590,216,000	6,619,486,000	7,034,224,000	7,607,663,000	6,924,346,000	7,044,070,000	6,359,409,000	6,444,519,000	6,296,761,000	5,288,655,000	5,510,541,000	5,221,886,000	4,680,633,000	4,771,684,000	4,521,807,000	4,115,037,000	3,268,218,000	2,265,860,000	1,556,715,000	1,120,812,000		484,276,000				220,074,000				304,139,000							230,810,000
common stock held in treasury at cost, 937 shares at march 31, 2014 and december 31, 2013																																															-19,000
liabilities and stockholders’ equity
liabilities subject to compromise																																																			1,704,641,000	1,704,904,000	1,707,408,000	1,707,411,000	1,707,417,000	1,707,421,000	1,707,488,000	1,706,518,000	1,708,486,000	1,695,231,000
obligations under investment repurchase agreements																																																	1,370,000	5,926,000	5,926,000	5,926,000	18,276,000	18,276,000	23,500,000	23,500,000	34,040,000	34,040,000	35,720,000	37,650,000	101,807,000	113,296,000	113,296,000	113,527,000	113,527,000	113,496,000	113,496,000	113,737,000	135,305,000	135,273,000	135,273,000	135,524,000	135,524,000	135,465,000	151,797,000	154,287,000	157,151,000	166,227,000	173,800,000	196,568,000	201,680,000	229,466,000	246,560,000		295,816,000	342,801,000	474,951,000		606,110,000	715,405,000	792,590,000		1,085,946,000	1,190,564,000
stockholders’ equity
successor preferred stock, par value 0.01 per share...
predecessor preferred stock, par value 0.01 per share...
successor common stock, par value 0.01 per share...																																																450,000,000	450,000	450,000
predecessor common stock, par value 0.01 per share...
successor common stock held in treasury at cost, 937 shares at december 31, 2013																																																-19,000,000
predecessor common stock held in treasury at cost, 5,580,657 shares at december 31, 2012
stockholders’ deficit:
preferred stock
common stock																																																			3,080,000		3,080,000	3,080,000	3,080,000		3,080,000	3,080,000	3,080,000		3,080,000	3,080,000	2,944,000		2,944,000	2,944,000	2,944,000		2,944,000	2,944,000	2,944,000		1,092,000	1,092,000	1,092,000		1,092,000	1,092,000	1,092,000		1,091,000	1,091,000	1,089,000		1,088,000	1,088,000	1,084,000		1,069,000	1,067,000	1,064,000		1,062,000	1,062,000
accumulated deficit																																																			-6,015,025,000	-6,297,264,000	-6,440,840,000	-6,598,384,000	-5,786,940,000	-6,039,922,000	-5,076,708,000	-5,001,201,000	-4,898,771,000		-3,978,701,000	-4,031,055,000	-3,972,754,000	-3,878,015,000
common stock held in treasury at cost																																																			-410,695,000		-410,755,000	-410,755,000	-411,081,000		-411,419,000	-411,419,000	-411,419,000		-430,600,000	-454,203,000	-454,942,000		-561,495,000	-565,904,000	-582,829,000		-595,414,000	-635,779,000	-636,933,000		-646,861,000	-632,345,000	-640,085,000		-216,719,000	-241,579,000	-247,822,000		-279,943,000	-126,057,000	-341,000		-10,101,000	-25,859,000	-6,087,000				-9,652,000		-22,063,000	-158,000
total ambac financial group, inc. stockholders’ deficit																																																			-3,530,542,000	-3,907,527,000	-4,148,519,000	-4,416,439,000	-3,577,117,000	-3,812,975,000	-2,834,802,000	-2,728,213,000	-2,748,282,000		-1,872,111,000	-2,077,105,000	-2,130,845,000	-2,287,785,000	-2,828,444,000	-5,379,132,000	-3,978,111,000
total stockholders’ deficit																																																			-2,870,070,000	-3,246,967,000	-3,487,513,000	-3,755,379,000	-2,913,642,000	-3,149,533,000	-2,180,576,000	-2,073,981,000	-2,093,897,000		-1,217,580,000	-1,422,679,000	-1,476,785,000	-1,633,645,000	-2,174,541,000	-4,586,444,000	-3,185,467,000
total liabilities and stockholders’ deficit																																																			26,164,660,000	27,007,164,000	26,947,892,000	26,611,791,000	27,372,884,000	27,113,695,000	27,626,582,000	27,940,429,000	27,410,304,000		31,328,239,000	30,055,785,000	35,815,677,000	18,886,367,000	18,099,056,000	20,045,165,000	20,182,397,000
other																																																				100,000	100,000	100,000	100,000	100,000				100,000	100,000	100,000	1,278,000	1,278,000	1,278,000	754,000	3,368,000	14,059,000	13,475,000	13,936,000	13,824,000	14,278,000	14,787,000	39,928,000	14,460,000	14,391,000	99,474,000	14,302,000	14,442,000		4,412,000	4,198,000	4,110,000		4,453,000	4,208,000	4,591,000				3,225,000		2,159,000	2,633,000
common stock held in treasury at cost, 5,580,657 shares at december 31, 2012 and 5,587,953 shares at december 31, 2011																																																				-410,755,000
short-term investments																																																					713,467,000	1,010,059,000	893,822,000	783,071,000	824,126,000	1,066,353,000						962,007,000				1,454,229,000	1,334,266,000	1,490,717,000	1,552,893,000	879,067,000
common stock held in treasury at cost, 5,587,953 shares at december 31, 2011 and 5,893,054 shares at december 31, 2010																																																								-411,419,000
other, at cost																																																									100,000	100,000	100,000
restricted cash and cash equivalents																																																									2,500,000	2,500,000
receivable for securities sold																																																									36,085,000	34,218,000	77,449,000	23,505,000	22,578,000	14,481,000	41,995,000	3,106,000	53,339,000	102,166,000	22,877,000	15,483,000	165,626,000	29,171,000	20,111,000	11,068,000	97,816,000	48,979,000	1,743,000	12,857,000	1,909,000	2,578,000	23,295,000	2,161,000	1,136,000					152,192,000	17,823,000		96,925,000	67,000	16,478,000		508,156,000	8,649,000
liabilities and stockholders’ deficit:
ambac financial group, inc.:
short-term investments, at cost																																																											792,426,000							1,062,072,000	1,016,090,000						686,133,000	291,979,000	270,196,000	311,759,000	277,763,000	241,798,000	203,891,000	472,034,000	175,097,000	232,882,000	428,209,000	36,994,000	176,705,000	238,184,000	226,451,000	36,327,000	164,852,000	389,145,000	214,911,000	39,863,000	137,369,000	220,426,000
obligations under investment and payment agreements																																																											681,396,000	767,982,000	814,389,000	879,381,000	1,150,220,000	1,177,406,000	1,416,142,000	1,594,623,000	2,098,558,000	3,244,098,000	5,482,983,000	7,246,205,000	7,709,892,000	8,570,902,000	9,135,270,000	8,395,689,000	7,747,778,000	8,202,590,000	7,743,869,000	7,585,058,000	7,026,570,000	7,056,222,000	6,902,790,000	7,093,061,000	6,733,883,000		6,313,378,000	6,388,408,000	6,612,176,000		6,369,755,000	6,591,813,000	6,655,698,000		5,246,902,000	5,220,984,000
short-term investments at cost																																																												708,797,000
short-term investments,																																																													617,748,000	514,780,000	2,602,585,000		1,344,945,000
liabilities and stockholders’ deficit
stockholders’ (deficit) equity:
accumulated other comprehensive loss																																																															119,660,000	-24,827,000				-1,670,198,000
common stock held in treasury at cost, 6,780,093 shares at december 31, 2009 and 7,138,800 shares at december 31, 2008																																																																-560,543,000
current income taxes																																																																		190,495,000	191,644,000		753,832,000	627,792,000	174,044,000	97,826,000	32,312,000	49,227,000	119,258,000	49,920,000	29,281,000	87,694,000	82,704,000	16,726,000	1,627,000	11,939,000	66,242,000		33,917,000	39,385,000	52,769,000		40,663,000	25,472,000	61,541,000		36,675,000	18,750,000
stockholders’(deficit) equity:
accumulated other comprehensive gains																																																																	6,372,000
retained deficit																																																																	-4,448,113,000	-6,630,047,000	-4,341,164,000
accumulated other comprehensive losses																																																																		-224,665,000	-1,092,253,000
prepaid reinsurance																																																																				292,837,000	327,165,000	404,466,000	475,705,000	489,028,000	332,373,000	322,914,000	319,310,000	315,498,000	311,564,000	310,790,000	281,835,000	303,383,000	287,161,000	280,579,000	251,573,000		286,201,000	290,234,000	328,254,000		310,418,000	314,866,000	299,400,000		273,931,000	272,946,000
ceded reinsurance balances payable																																																																				15,597,000	13,459,000	14,623,000	16,205,000	32,435,000	24,406,000	19,198,000	20,888,000	20,084,000	16,964,000	38,080,000	15,737,000	23,746,000	19,072,000	31,496,000	13,693,000		4,325,000	23,134,000	17,043,000		8,989,000	15,034,000	11,572,000		11,248,000	9,831,000
securities sold under agreement to repurchase																																																																						139,000		100,000,000			128,000,000		57,000,000	20,000,000	39,000,000			42,000,000			159,200,000	223,200,000	163,200,000		144,600,000	140,390,000	278,390,000		460,495,000	409,000,000
minority interest																																																																				700,000,000
retained (deficit) earnings																																																																				-3,550,768,000	-1,205,956,000
common stock held in treasury at cost, 7,138,800 shares at december 31, 2008 and 7,643,073 shares at december 31, 2007																																																																				-594,318,000
accumulated other comprehensive (losses) income																																																																					-1,116,627,000
assets
loss and loss expense reserve																																																																							1,512,319,000		284,128,000	255,825,000	231,314,000		279,614,000	291,026,000	298,160,000		288,822,000	213,542,000	259,808,000
securities purchased under agreements to resell																																																																										270,000,000		273,000,000	200,000,000	200,000,000	306,000,000	419,000,000	32,000,000	25,000,000	97,000,000		62,000,000	43,000,000	147,000,000		105,705,000	179,608,000	7,002,000		24,504,000	14,005,000
deferred income taxes																																																																										183,117,000	261,448,000	263,483,000	261,228,000	132,462,000	206,659,000	257,987,000	266,199,000	295,617,000	188,529,000		192,482,000	110,304,000	229,281,000		189,079,000	248,420,000	189,108,000		270,930,000	183,214,000
common stock held in treasury at cost, 7,643,073 shares at december 31, 2007 and 3,462,543 shares at december 31, 2006																																																																								-646,786,000
common stock held in treasury at cost, 3,462,543 at december 31, 2006 and 3,553,650 shares at december 31, 2005																																																																												-259,222,000
other,																																																																																14,173,000
common stock held in treasury at cost, 3,553,650 at december 31, 2005 and 0 shares at december 31, 2004																																																																																-247,578,000
investments in subsidiaries																																																																																				5,746,384,000				4,972,186,000				4,185,367,000
current income taxes receivable																																																																																				33,956,000				9,961,000				6,332,000
deferred income taxes receivable																																																																																				14,681,000				24,570,000				20,684,000
debentures																																																																																				791,839,000	791,823,000	791,807,000	791,791,000	791,775,000	791,759,000	791,748,000	991,731,000	616,715,000	612,717,000	612,472,000
note payable to subsidiary																																																																																				8,942,000				8,942,000				8,942,000
common stock held in treasury at cost, 0 shares at december 31, 2004 and at december 31, 2003
receivable for securities and loans sold																																																																																					173,973,000
derivative product assets																																																																																					1,128,726,000	978,679,000	1,394,449,000		998,562,000	1,210,181,000	1,080,086,000		961,250,000
liabilities and stockholders' equity
variable interest entity floating rate notes																																																																																					134,098,000
derivative product liabilities																																																																																					932,317,000	796,363,000	1,175,826,000		839,304,000	1,010,839,000	933,752,000
stockholders' equity:
variable interest entity																																																																																						150,779,000	170,663,000
common stock held in treasury at cost, 0 shares at december 31, 2003 and 220,876 at december 31, 2002
other, at fair value																																																																																									3,967,000	3,797,000
receivable for investment agreements																																																																																										80,867,000	20,655,000		21,369,000	169,000
losses and loss adjustment expense reserve																																																																																									187,452,000	181,772,000	177,788,000		167,045,000	161,497,000
common stock held in treasury at cost, 220,876 shares at december 31, 2002 and 436,488 at december 31, 2001																																																																																												-11,880,000
reinsurance recoverable																																																																																													2,195,000	1,894,000
cash pledged as collateral																																																																																														9,418,000

Cashflow Statements:

Quarterly

Annual

Unit: USD	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-09-30	2019-06-30	2019-03-31	2018-12-31	2018-09-30	2018-06-30	2018-03-31	2017-09-30	2017-06-30	2017-03-31	2016-12-31	2016-09-30	2016-06-30	2016-03-31	2015-09-30	2015-03-31	2014-03-31	2013-05-01	2013-03-31	2012-12-31	2012-09-30	2012-06-30	2012-03-31	2011-12-31	2011-09-30	2011-06-30	2011-03-31	2010-12-31	2010-09-30	2010-06-30	2010-03-31	2009-12-31	2009-09-30	2009-06-30	2009-03-31	2008-12-31	2008-09-30	2008-06-30	2008-03-31	2007-12-31	2007-09-30	2007-06-30	2007-03-31	2006-12-31	2006-09-30	2006-06-30	2006-03-31	2005-12-31	2005-09-30	2005-06-30	2005-03-31	2004-12-31	2004-06-30	2004-03-31	2003-12-31	2003-06-30	2003-03-31	2002-09-30	2002-06-30

cash flows from operating activities:
net income	-2,863,000	-29,673,000	-111,728,000	-72,953,000	-44,737,000	-547,088,000	-29,000,000	-1,000,000	21,000,000	-16,000,000	67,000,000	-13,000,000	-33,000,000	174,000,000	340,000,000	6,000,000	2,000,000	-22,000,000	17,000,000	-28,000,000	17,000,000	-14,000,000	-108,000,000	-35,000,000	-280,000,000	66,116,000	-128,429,000	-43,201,000	-20,459,000				-190,905,000	7,110,000	-125,441,000	-94,891,000	101,438,000	58,355,000	9,415,000	-391,031,000	214,871,000	156,049,000	-76,970,000	282,252,000	143,301,000	157,373,000	-813,350,000	253,322,000							-57,574,000	-690,062,000					-2,340,817,000	-2,431,222,000	823,134,000	-1,660,343,000	-3,273,924,000	-360,613,000	173,037,000	213,343,000	202,678,000	213,523,000	238,570,000	221,140,000	204,252,000	175,117,000	186,098,000	185,543,000	188,771,000	352,321,000	171,611,000	158,752,000	300,494,000	137,923,000	368,404,000	236,713,000
net income from discontinued operations		0	-80,890,000	-52,151,000	-30,247,000
net income from continuing operations	-2,863,000	-29,673,000	-30,838,000	-20,802,000	-14,490,000
adjustments to reconcile net income to net cash from operating activities:
intangible amortization and depreciation	12,214,000	13,289,000	9,746,000	9,741,000	9,176,000
share-based compensation	4,722,000	2,783,000	-10,008,000	14,583,000	2,349,000	3,356,000	4,000,000			5,000,000	4,000,000	5,000,000	3,000,000	4,000,000	3,000,000	5,000,000	5,000,000	4,000,000	4,000,000	2,000,000	4,000,000	3,000,000	2,000,000	3,000,000	3,000,000	2,334,000	3,249,000	4,116,000	1,379,000	1,710,000	4,153,000	4,612,000	977,000	864,000	1,521,000	1,025,000	1,451,000	1,695,000	1,082,000	876,000	393,000	1,537,000							0	0	-15,567,000	108,000	1,114,000	1,238,000	1,421,000	1,591,000	763,000	4,805,000	3,350,000	5,160,000	-29,000	7,970,000	8,245,000	1,228,000	5,019,000	8,222,000	12,212,000	11,886,000	18,262,000	5,466,000	5,066,000	8,405,000
deferred income taxes	-4,664,000																	1,000,000	-1,000,000	9,000,000	-3,000,000	-4,000,000	3,000,000	-2,000,000	-6,000,000	-2,483,000	126,000	-935,000	12,693,000	-5,241,000	-2,025,000	1,145,000	64,000	120,000	26,000	-16,000	24,000	-47,000	-446,000	2,000	-174,000	3,000	30,000	-46,000													1,000	0	572,711,000	670,875,000	1,076,774,000	-504,164,000	1,461,910,000	-1,212,234,000	-2,010,342,000	-184,343,000	-11,354,000	3,233,000	-2,872,000	38,049,000	-30,287,000	165,000	7,826,000	29,811,000	18,984,000	14,654,000		18,865,000	6,676,000		-1,767,000	-1,146,000	2,186,000	4,503,000
unearned premiums	12,448,000	4,586,000	749,000	-995,000	2,327,000	-8,324,000	3,000,000	1,000,000	-6,000,000	16,000,000	5,000,000	-57,000,000	6,000,000	-11,000,000	-22,000,000	-14,000,000	-11,000,000	-7,000,000	-30,000,000	-23,000,000	-22,000,000	-8,000,000	-21,000,000	-12,000,000	-7,000,000	-49,813,000	-31,933,000	-36,289,000	-55,428,000	-49,804,000	-38,981,000	-18,329,000	-73,307,000	-27,548,000	-36,272,000	-78,418,000	-94,962,000	-38,530,000	-77,230,000	-93,465,000	-84,582,000	-84,667,000	44,635,000	-147,095,000	-194,494,000	-145,836,000	-148,088,000	-146,928,000	-55,496,000	115,717,000	-395,802,000	-171,593,000	-380,627,000	-204,207,000	-203,428,000	-655,020,000	-365,147,000	-83,178,000	-145,465,000	-208,110,000	-130,934,000	-161,831,000	-201,510,000	-51,242,000	-161,073,000	57,146,000	12,158,000	4,555,000	16,699,000	-12,261,000	46,214,000	33,789,000	62,540,000	-22,794,000	74,232,000	55,794,000		217,052,000	27,797,000		223,663,000	31,111,000	140,241,000	84,096,000
losses and loss expenses	-6,496,000	26,821,000	-10,445,000	-14,473,000	-20,876,000	7,779,000	18,000,000	-11,000,000	-4,000,000	64,000,000	-78,000,000	1,000,000	143,000,000	1,548,000,000	-315,000,000	-7,000,000	-6,000,000	1,000,000	-92,000,000	-39,000,000	-17,000,000	-2,000,000	7,000,000	-6,000,000	77,000,000	-72,271,000	-269,513,000	-118,801,000	-74,164,000	-123,997,000	-63,202,000	-1,371,840,000	75,624,000	75,505,000	131,188,000	187,782,000	-191,409,000	56,659,000	800,946,000	-123,013,000	-197,332,000	-146,494,000	43,764,000	-78,527,000	-384,647,000	-647,904,000	761,462,000	9,785,000									-92,551,000	177,793,000	897,008,000	408,308,000	623,894,000	413,264,000																	41,160,000
ceded premiums payable	8,587,000	-7,074,000	-2,922,000	9,199,000	28,356,000	-51,663,000	25,000,000	30,000,000	20,000,000	-4,000,000	-1,000,000	58,000,000	-1,000,000			4,000,000	7,000,000	-1,000,000	0	9,000,000	-2,000,000	-1,000,000	0	-1,000,000	-1,000,000	-845,000	-950,000	-1,168,000	-1,393,000	-1,288,000	-857,000	-1,425,000	-1,071,000	-537,000	-2,328,000	-982,000	-2,216,000	-1,611,000	-6,156,000	-351,000	-1,168,000	-1,070,000	-591,000	-2,442,000	438,000	-4,190,000	-1,364,000	-15,912,000	-5,288,000	-1,044,000	-12,361,000	-7,202,000	-41,275,000	-42,015,000	993,000	-68,096,000		-247,095,000	-88,193,000	-14,247,000
premium and commissions receivables	-32,204,000	-11,617,000
commissions payable	2,531,000	-7,143,000
corporate costs reallocated to continuing operations		0	1,521,000	2,502,000	2,763,000
other	-4,354,000	7,362,000	-31,240,000	15,876,000	-3,341,000	46,237,000	-22,000,000	-1,000,000	-23,000,000	27,000,000	7,000,000	4,000,000	-25,000,000	-235,000,000	2,000,000	33,000,000	48,000,000	-7,000,000	5,000,000	-23,000,000	-10,000,000	-13,000,000	0	9,000,000	63,000,000	-8,076,000	38,912,000	56,579,000	6,471,000	9,376,000	11,867,000	34,299,000	-5,989,000	14,217,000	1,704,000	-41,913,000	58,742,000	-42,952,000	-9,398,000	102,987,000	58,229,000	52,397,000	-115,816,000	49,273,000	65,948,000	169,874,000	14,608,000	-144,524,000	-224,726,000	155,876,000	115,123,000	-17,400,000	-159,218,000	258,098,000	374,000	71,801,000	-217,369,000	224,115,000	31,786,000	-23,006,000	-22,092,000	-47,606,000	-88,192,000	54,490,000	33,188,000	48,590,000	14,276,000	-37,861,000	25,666,000	19,823,000	18,219,000	364,000	-22,691,000	-11,624,000	-27,979,000	-3,791,000	42,908,000	-53,002,000	-17,153,000	-39,863,000	32,724,000	-2,935,000	7,979,000	-32,298,000
net cash from operating activities from continuing operations	-10,079,000	-666,000	-41,154,000	2,149,000	-12,612,000
cash flows from investing activities:
proceeds from matured bonds	11,492,000	9,056,000	6,786,000	13,328,000	8,488,000	-104,420,000	50,000,000	34,000,000	42,000,000	16,000,000	27,000,000	25,000,000	6,000,000	123,000,000	14,000,000	49,000,000	20,000,000	40,000,000	504,000,000	115,000,000	39,000,000	32,000,000	30,000,000	26,000,000	49,000,000	42,559,000	239,578,000	34,681,000	139,341,000	78,329,000	110,071,000	103,995,000	279,670,000	162,568,000	227,741,000	376,267,000	355,674,000	287,655,000	297,619,000	226,249,000	299,715,000	230,290,000	-73,360,000	255,664,000	178,791,000	408,870,000	313,674,000	208,133,000	162,763,000	150,501,000	159,862,000	202,806,000	116,923,000	198,174,000	143,054,000	243,137,000	161,489,000	176,371,000	166,191,000	154,654,000	157,206,000	354,474,000	258,238,000	523,901,000	476,157,000	431,314,000	437,058,000	472,143,000	452,799,000	417,388,000	719,371,000	365,385,000	383,511,000	475,835,000	374,374,000	290,844,000		750,199,000	333,507,000		1,570,333,000	607,904,000	1,586,991,000	1,078,238,000
purchases of bonds	-27,258,000	-1,102,000	-1,728,000	-11,757,000	-10,990,000	297,530,000	-143,000,000	-143,000,000	-72,000,000	-124,000,000	-65,000,000	-122,000,000	-104,000,000	-130,000,000	-84,000,000	-156,000,000	-33,000,000	-57,000,000	-58,000,000	-100,000,000	-128,000,000	-131,000,000	-159,000,000	-535,000,000	-150,000,000	-439,360,000	-244,171,000	-182,556,000	-179,474,000	-184,765,000	-86,448,000	-77,469,000	-573,660,000	-546,891,000	-439,473,000	-488,346,000	-670,143,000	-413,468,000	-1,002,328,000	-311,206,000	-919,361,000	-625,507,000	-503,908,000	-243,006,000	-197,512,000	-152,537,000	-266,683,000	-182,008,000	-295,398,000	-491,698,000	-258,757,000	-205,418,000	-244,018,000	-219,108,000	-525,985,000	-135,770,000	-602,823,000	-899,373,000	-197,219,000	-539,744,000	-202,435,000	-101,981,000	-1,099,009,000	-1,917,351,000	-379,219,000	-1,499,930,000	-880,851,000	-980,241,000	-702,048,000	-673,868,000	-2,156,408,000	-1,206,581,000	-1,048,370,000	-1,084,991,000	-2,010,932,000	-961,609,000		-2,776,072,000	-1,272,364,000	5,544,881,000	-3,849,511,000	-2,387,615,000	-4,599,837,000	-3,167,562,000
change in short-term investments	54,169,000	149,409,000	-193,127,000	-1,006,000	25,972,000	-45,171,000	8,000,000	68,000,000	71,000,000	-7,000,000	-45,000,000	24,000,000	146,000,000	6,000,000	-56,000,000	112,000,000	-114,000,000	-27,000,000	49,000,000	-18,000,000	94,000,000	91,000,000	105,000,000	-105,000,000	67,000,000	106,605,000	135,819,000	-477,910,000	131,290,000	-169,408,000	-71,402,000	236,262,000	-212,683,000	-156,642,000	83,550,000	-300,653,000	205,084,000	100,538,000	-210,971,000	-167,710,000	139,085,000	56,016,000	221,711,000	-106,274,000	51,809,000	296,592,000	-116,237,000	-110,751,000	41,055,000	242,227,000	8,843,000	-83,629,000	-91,049,000	-102,968,000	2,087,805,000	-1,640,578,000	382,937,000	-282,872,000	-45,982,000	438,139,000	-119,963,000	156,451,000	62,176,000	-673,854,000	-192,906,000	-394,154,000	-21,783,000	41,563,000	-33,996,000	-35,965,000	-37,907,000	268,143,000	-296,937,000	57,785,000	195,327,000	93,017,000	-74,344,000	12,198,000	23,931,000	-227,373,000	6,616,000	180,850,000	277,633,000	194,576,000
net cash from investing activities from continuing operations	37,708,000	-65,435,000	247,341,000	-3,309,000	21,339,000
cash flows from financing activities:
payments for purchases of common stock held in treasury		-26,641,000	0	-179,000	-3,122,000
payments for long-term debt	-625,000
tax payments related to shares withheld for share-based compensation plans	-572,000	-3,618,000	-173,000	90,000	-1,606,000	308,000	0	0	-1,000,000	0	3,000,000	-3,000,000	-5,000,000	0	-1,000,000	0	-3,000,000	0	0	0	-6,000,000	0	0	0	-3,000,000	-412,000	0	-2,198,000	0	0	-91,000	-1,025,000	0	0	-1,268,000
distributions to noncontrolling interest holders	-553,000	-2,783,000	-497,000	-186,000	-708,000	-391,000	-1,000,000	0	-1,000,000	-1,000,000	0			-2,000,000	0			0
acquisitions of noncontrolling interest shares	-383,000	0	-67,309,000
net cash from financing activities from continuing operations	-2,133,000	84,428,000	-200,979,000	-4,311,000	-5,436,000
effect of foreign exchange on cash and cash equivalents - continuing operations	-399,000	-4,000	176,000	194,000	1,094,000
net cash from continuing operations	25,097,000	16,863,000	5,384,000	-5,277,000	4,385,000
cash, cash equivalents, and restricted cash at beginning of period - continuing operations	68,440,000	0	0	0	47,275,000
cash, cash equivalents, and restricted cash at end of period - continuing operations	93,537,000	18,323,000	5,384,000	-5,277,000	51,660,000
net cash from operating activities from discontinued operations		0	36,877,000	-9,053,000	43,904,000
net cash from investing activities from discontinued operations		0	12,045,000	44,517,000	13,150,000
net cash from financing activities from discontinued operations		0	-48,290,000	-46,485,000	-48,369,000
effect of foreign exchange on cash and cash equivalents - discontinued operations				250,000	225,000
net cash from discontinued operations		0	157,000	-10,771,000	8,910,000
cash, cash equivalents, and restricted cash at beginning of period - discontinued operations		-1,000	0	0	66,077,000
cash, cash equivalents, and restricted cash at end of period - discontinued operations				-10,771,000	74,987,000
cash paid during the period for:
interest on debt	1,999,000
income taxes	1,483,000																																13,544,000	7,717,000	8,295,000		2,436,000	1,185,000	6,477,000	5,491,000	4,933,000		107,000	229,000	1,117,000				0	0											-2,939,000	-288,000	24,368,000	8,500,000	26,020,000	46,015,000	135,300,000	784,000	52,215,000	77,736,000	112,350,000	5,885,000	60,880,000	30,862,000	92,950,000	1,235,000	48,830,000	71,170,000	10,720,000	47,244,000	100,000,000	15,000,000	122,500,000	112,500,000
non-cash investing and financing activities:
noncontrolling interests acquired in connection with put / call option exercises	43,644,000
proceeds from sales of bonds		1,305,000				-187,006,000	167,000,000	-4,000,000	30,000,000	27,000,000	6,000,000	44,000,000	63,000,000	69,000,000	67,000,000	246,000,000	141,000,000	110,000,000	9,000,000	73,000,000	44,000,000	135,000,000	98,000,000	655,000,000	221,000,000	362,764,000	48,194,000	641,032,000	155,990,000	468,021,000	327,417,000	296,078,000	637,675,000	579,966,000	305,541,000	410,459,000	152,323,000	169,013,000	136,087,000	92,556,000	487,462,000	276,555,000	222,437,000	120,603,000	158,662,000	6,729,000	392,257,000	35,024,000	284,599,000	110,161,000	147,227,000	93,191,000	99,387,000	9,791,000	1,209,812,000	1,129,824,000	698,893,000	1,688,278,000	644,915,000	681,380,000	2,787,169,000	2,148,024,000	1,253,338,000	1,506,056,000	609,927,000	199,600,000	2,416,000	223,378,000	58,266,000	37,912,000	649,112,000	104,725,000	509,675,000	646,379,000	862,159,000	171,086,000	-2,341,151,000	1,704,361,000	805,871,000	-2,628,802,000	1,604,622,000	545,127,000	1,525,160,000	791,622,000
proceeds from sales of other invested assets						-100,375,000	60,000,000	34,000,000	7,000,000	20,000,000	81,000,000	67,000,000	41,000,000	24,000,000	34,000,000	63,000,000	45,000,000	-36,000,000	14,000,000	13,000,000	48,000,000	-3,000,000	16,000,000	118,000,000	243,000,000	24,083,000	46,726,000	1,749,000	47,322,000	60,122,000	20,075,000	31,327,000	134,894,000	56,452,000	121,353,000	-734,000	97,004,000	32,442,000	2,991,000	50,645,000	36,543,000	36,894,000
purchases of other investments		0	0
acquisitions, net of cash acquired		-218,529,000				-28,776,000				0
proceeds from sale of subsidiary		0
proceeds from long-term debt
proceeds from short-term debt						0
issuance of equity interest in subsidiary
payments for extinguishment of short-term debt		0
issuance of warrants		0
octave common stock issued as partial consideration to acquire octave ventures
cash disposed of related to sale of discontinued operations
amortization of bond premium and discount				-64,000	-63,000	12,704,000	-5,000,000	-5,000,000	-3,000,000	-5,000,000	-4,000,000	-3,000,000	-3,000,000	-3,000,000	-2,000,000	-3,000,000	-3,000,000	-4,000,000	-3,000,000	-3,000,000	-3,000,000	-3,000,000	-4,000,000	-4,000,000	-4,000,000	-4,196,000	-43,249,000	-11,846,000	-16,354,000	-17,816,000	-25,175,000	-77,427,000	-50,721,000	-47,002,000	-36,178,000	-47,105,000	-46,603,000	-30,017,000	-26,336,000	-35,056,000	-31,477,000	-27,940,000	39,181,000	-42,421,000	-25,542,000	-42,258,000	-57,060,000	-64,542,000	-52,002,000	-47,979,000	-50,894,000	-35,439,000	-22,439,000	-24,838,000	-22,011,000	-56,596,000	-72,094,000	-72,203,000	-47,300,000	-24,269,000	-22,605,000	-13,763,000	497,000	-897,000	75,000	83,000	947,000	138,000	644,000	1,508,000	1,189,000	-53,000	160,000	-3,321,000	379,000	46,000		-2,958,000	-3,690,000		6,915,000	3,720,000	3,891,000	1,720,000
premium receivables				-13,418,000	-18,813,000	40,671,000	-25,000,000	-18,000,000	-9,000,000	-13,000,000	-1,000,000	-4,000,000	-3,000,000	-3,000,000	45,000,000	6,000,000	6,000,000	4,000,000	18,000,000	12,000,000	14,000,000	0	20,000,000	11,000,000	13,000,000	27,463,000	45,931,000	7,979,000	21,473,000	37,395,000	26,831,000	5,601,000	53,827,000	-252,000	8,630,000	46,284,000	63,286,000	13,264,000	49,497,000	41,478,000	48,608,000	34,907,000	-10,790,000	77,523,000	135,209,000	74,044,000	87,662,000	110,943,000	74,714,000	-178,268,000	365,995,000	131,676,000	380,215,000	-13,458,000	152,193,000	776,612,000
depreciation						345,000	1,000,000	0	1,000,000	1,000,000	0
accrued interest payable						-37,440,000	15,000,000	13,000,000	12,000,000	12,000,000	13,000,000	11,000,000	-37,000,000	-206,000,000	24,000,000	24,000,000	24,000,000	28,000,000	30,000,000	22,000,000	23,000,000	24,000,000	23,000,000	23,000,000	23,000,000	22,451,000	13,425,000	28,971,000	32,103,000	66,698,000	-6,641,000	-82,992,000	20,719,000	1,710,000	4,866,000	21,238,000	20,620,000	8,429,000	16,152,000	-4,007,000	18,269,000	22,235,000	-2,032,000	17,543,000	18,727,000	17,124,000	26,741,000	26,684,000	29,007,000	26,711,000	28,064,000	24,679,000	-29,267,000	32,630,000	11,275,000	-55,000	8,659,000	-25,569,000	9,614,000	-41,488,000	1,478,000	-13,149,000	12,791,000	-45,757,000	-3,181,000	22,769,000	-9,830,000	-1,444,000	5,185,000	29,926,000	-10,229,000	-19,645,000	28,614,000	11,059,000	13,133,000	-15,669,000		-17,024,000	-26,929,000		-13,837,000	-26,631,000	-13,947,000	-5,595,000
amortization of intangible assets						-15,398,000	12,000,000	9,000,000	12,000,000	8,000,000	8,000,000	6,000,000	7,000,000	13,000,000	6,000,000	14,000,000	14,000,000	11,000,000	11,000,000	14,000,000	19,000,000
net investment gains, including impairments						3,497,000	1,000,000	-3,000,000	-1,000,000	15,000,000	-1,000,000	4,000,000	4,000,000	0	-14,000,000	-7,000,000	-10,000,000
proceeds from sale of subsidiary, net of cash transferred						119,000
net income attributable to common stockholders							-27,000,000	-1,000,000	20,000,000	-15,000,000	66,000,000	-14,000,000	-33,000,000	175,000,000	340,000,000	5,000,000	2,000,000	-22,000,000	17,000,000	-29,000,000	17,000,000								-20,459,000	-103,845,000	4,313,000	305,704,000					101,474,000	58,647,000	9,415,000
redeemable noncontrolling interest							2,000,000	0	-1,000,000	0	0	0	-1,000,000	0				0
variable interest entity activities							-3,000,000	1,000,000	-3,000,000			0	1,000,000	-7,000,000	1,000,000	7,000,000	-22,000,000	-2,000,000	-3,000,000			-2,000,000	0	0	-3,000,000	-11,244,000	-3,294,000	-15,921,000	-454,000	-1,831,000	-577,000	-574,000	4,049,000	1,219,000	-3,701,000	-2,026,000	-2,057,000	-8,987,000	27,163,000	21,435,000	-6,962,000	5,542,000	33,728,000	-38,326,000	-884,000	-6,137,000	-5,536,000	-15,220,000	265,604,000	-55,008,000	-2,353,000	6,125,000	111,815,000	-26,377,000	38,546,000	492,704,000
net cash from operating activities							-4,000,000	14,000,000	18,000,000	88,000,000	11,000,000	24,000,000	77,000,000	1,276,000,000	48,000,000	2,000,000	9,000,000	5,000,000	-53,000,000	-43,000,000	-40,000,000	-8,000,000	-55,000,000	-25,000,000	-87,000,000	-31,370,000	-169,733,000	-95,128,000	-125,320,000	-106,355,000	-120,026,000	-1,191,562,000	-117,728,000	-158,357,000	-2,646,000	18,008,000	-44,777,000	42,629,000	827,680,000	42,569,000	5,580,000	38,525,000	-37,767,000	77,330,000	-208,298,000	-441,029,000	-4,921,000	40,350,000	-195,341,000	-8,665,000	124,748,000	82,815,000	77,817,000			427,098,000	-515,013,000	-608,031,000	-344,050,000	-383,658,000	-638,038,000	-899,749,000	-26,514,000	141,250,000	117,496,000	383,695,000	141,217,000	302,976,000	274,296,000	105,970,000	216,633,000	306,234,000	299,382,000	225,991,000	194,936,000	287,189,000	-631,101,000	540,985,000	218,935,000	-752,881,000	508,789,000	176,708,000	481,996,000	210,884,000
capital expenditures							0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0			0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
free cash flows							-4,000,000	14,000,000	18,000,000	88,000,000	11,000,000	24,000,000	77,000,000	1,276,000,000	48,000,000	2,000,000	9,000,000	5,000,000	-53,000,000	-43,000,000	-40,000,000	-8,000,000	-55,000,000	-25,000,000	-87,000,000	-31,370,000	-169,733,000	-95,128,000	-125,320,000	-106,355,000	-120,026,000	-1,191,562,000	-117,728,000	-158,357,000	-2,646,000	18,008,000	-44,777,000	42,629,000	827,680,000	42,569,000	5,580,000	38,525,000	-37,767,000	77,330,000	-208,298,000	-441,029,000	-4,921,000	40,350,000	-195,341,000	-8,665,000	124,748,000	82,815,000	77,817,000			427,098,000	-515,013,000	-608,031,000	-344,050,000	-383,658,000	-638,038,000	-899,749,000	-26,514,000	141,250,000	117,496,000	383,695,000	141,217,000	302,976,000	274,296,000	105,970,000	216,633,000	306,234,000	299,382,000	225,991,000	194,936,000	287,189,000	-631,101,000	540,985,000	218,935,000	-752,881,000	508,789,000	176,708,000	481,996,000	210,884,000
purchases of other invested assets							-38,000,000	-12,000,000	-82,000,000	-18,000,000	-20,000,000	-28,000,000	-14,000,000	-13,000,000	-25,000,000	-49,000,000	-25,000,000	-30,000,000	-17,000,000	-39,000,000	-41,000,000	-50,000,000	-24,000,000	-206,000,000	-195,000,000	-17,562,000	-88,827,000	-28,559,000	-46,538,000	-74,938,000	-7,104,000	-11,758,000	-113,070,000	-21,814,000	-139,561,000	-30,843,000	-104,939,000	-130,098,000	-15,690,000	-20,217,000	-10,176,000	-20,611,000
change in cash collateral							-7,000,000	0	5,000,000	-13,000,000	8,000,000	-21,000,000	-16,000,000
change in consolidated vie cash collateral							-15,000,000	-186,000,000	6,000,000	-19,000,000	-2,000,000	2,000,000	254,000,000
proceeds from paydowns of consolidated vie assets							43,000,000	41,000,000	43,000,000	38,000,000	48,000,000	56,000,000	57,000,000	378,000,000	43,000,000	36,000,000	47,000,000	37,000,000	47,000,000	37,000,000	50,000,000	36,000,000	44,000,000	32,000,000	66,000,000	389,846,000	54,913,000	67,172,000	161,613,000	49,277,000	58,066,000	79,917,000
net cash from investing activities							-80,000,000	-171,000,000	51,000,000	-86,000,000	32,000,000	48,000,000	441,000,000	431,000,000	-5,000,000	304,000,000	136,000,000	31,000,000	558,000,000	71,000,000	116,000,000	36,000,000	126,000,000	26,000,000	244,000,000	478,859,000	200,420,000	112,155,000	338,496,000	234,009,000	358,355,000	656,996,000	178,652,000	127,888,000	167,577,000							-84,196,000	-104,739,000	-63,965,000	221,613,000	515,067,000	310,018,000	-8,718,000	198,121,000	13,998,000	8,504,000	7,403,000	-21,464,000	-102,988,000	2,989,756,000	-393,596,000	733,575,000	813,918,000	1,787,669,000	1,250,296,000	2,744,997,000	2,583,251,000	477,837,000	-556,389,000	519,265,000	-1,001,198,000	-991,460,000	55,206,000	-428,237,000	-253,364,000	-514,645,000	-315,859,000	-924,643,000	103,975,000	-434,888,000	-208,636,000	228,419,000	-269,607,000	-186,938,000	541,507,000	-572,012,000	-667,830,000	-1,214,038,000	-1,154,636,000
payments for purchases of common stock										0	-2,000,000			0	0
payments for redemption of tier 2 notes										0	0	0	-97,000,000
payments of consolidated vie liabilities							-44,000,000	-41,000,000	-46,000,000	-30,000,000	-50,000,000	-61,000,000	-174,000,000	-187,000,000	-45,000,000	-310,000,000	-49,000,000	-37,000,000	-48,000,000	-37,000,000	-48,000,000	-35,000,000	-44,000,000	-33,000,000	-66,000,000	-418,186,000	-29,020,000	-63,022,000	-161,613,000	-49,276,000	-58,067,000	-79,917,000
net cash from financing activities							103,000,000	-42,000,000	-47,000,000	-31,000,000	-49,000,000	-67,000,000	-276,000,000	-1,684,000,000	-45,000,000	-382,000,000	-52,000,000	-34,000,000	-516,000,000	-38,000,000	-69,000,000	-43,000,000	-55,000,000	-59,000,000	-146,000,000	-425,414,000	-9,554,000	-75,602,000	-183,461,000	-119,462,000	-232,237,000	-50,218,000	-7,737,000	-32,407,000	-137,647,000	-4,789,000					-49,870,000	1,000	772,000	-4,067,000	-59,543,000	-32,985,000	-296,016,000	-7,700,000	-8,097,000	-1,396,000	-123,499,000	-92,089,000	-116,529,000				-254,886,000	-1,186,592,000	-421,226,000	-866,583,000	-2,091,528,000	-1,696,718,000	-444,956,000	390,435,000	-539,642,000	608,588,000	854,483,000	-358,561,000	144,303,000	156,781,000	304,310,000	7,827,000	625,088,000	-338,058,000	234,813,000	-56,811,000	401,516,000	-262,663,000	-36,400,000	78,259,000	64,387,000	516,362,000	687,804,000	904,303,000
effect of foreign exchange on cash, cash equivalents and restricted cash															0											-409,000	-213,000	176,000		-113,000	-261,000	-278,000
net cash flow							20,000,000	-199,000,000	21,000,000	-28,000,000	-7,000,000	5,000,000	243,000,000	24,000,000	-2,000,000	-77,000,000	93,000,000	2,000,000	-10,000,000	-10,000,000	6,000,000	-15,000,000	16,000,000	-57,000,000	10,000,000	21,666,000	20,920,000	-58,399,000	29,964,000	8,079,000	5,831,000	-585,062,000	52,780,000	-64,534,000	27,747,000	69,807,000	-1,826,000	-6,098,000	-6,602,000	-6,866,000	-47,262,000	-45,670,000	-141,734,000	9,298,000	-46,228,000	41,053,000	9,081,000	23,932,000	-5,317,000	3,937,000	9,753,000	-1,871,000	-60,176,000	12,996,000	-58,131,000	2,729,000	-36,324,000	-980,705,000	1,022,393,000	55,000	15,431,000	-13,216,000	6,367,000	-24,704,000	97,119,000	-8,915,000	4,240,000	-379,000	-9,638,000	9,387,000	6,298,000	-1,798,000	-173,000	-8,092,000	-5,139,000	21,742,000	-1,166,000	8,715,000	-4,403,000	-11,073,000	1,164,000	25,240,000	-44,238,000	-39,449,000
cash, cash equivalents, and restricted cash at beginning of period							0	0	274,000,000	0	0	0	61,000,000	0	0	0	23,000,000	0	0	0	35,000,000	0	0	0	81,000,000	0	0	83,493,000	0	0	0	624,681,000
cash, cash equivalents, and restricted cash at end of period							20,000,000	-199,000,000	296,000,000	-28,000,000	-7,000,000	5,000,000	304,000,000	23,000,000	-1,000,000	-77,000,000	116,000,000	1,000,000	-10,000,000	-10,000,000	42,000,000	-15,000,000	16,000,000	-57,000,000	91,000,000	21,666,000	20,920,000	25,094,000	29,964,000	8,079,000	5,831,000	39,619,000
repurchase of auction market preferred shares
loss on extinguishment of debt														-24,000,000	0						-33,000,000											-3,115,000			-2,741,000
proceeds from issuance of sitka aac note																		0
proceeds from issuance of surplus notes																		4,000,000											6,476,000
paydowns of lsni ambac note
payments for debt issuance costs																		0											0	0	0	-9,221,000
payments for purchase of surplus notes
payments for redemption of sitka aac note
payments for auction market preferred shares																													0
effect of foreign exchange on cash and cash equivalents																																	-407,000	-1,658,000	463,000
derivative assets and liabilities											-4,000,000	11,000,000	14,000,000	18,000,000	-8,000,000	-8,000,000	-46,000,000	0	-6,000,000	5,000,000	-22,000,000	-9,000,000	-6,000,000	-11,000,000	32,000,000	5,722,000	-13,069,000	12,305,000	-17,450,000	82,000	-558,000	438,000	-510,000
(gain) loss on extinguishment of debt																			0										0	0			0
depreciation and amortization														1,000,000	0			1,000,000	0							70,000	127,000	159,000	168,000	168,000	182,000	181,000	233,000	263,000	270,000	300,000	285,000	332,000	303,000	647,000	791,000	748,000	-226,000	727,000	772,000	748,000	726,000	820,000	809,000	738,000	1,406,000	780,000	959,000	968,000	972,000	746,000	760,000	769,000	744,000	710,000	746,000	809,000	805,000	801,000	685,000	663,000	669,000	678,000	738,000	696,000	756,000	675,000	1,068,000	1,239,000	1,332,000	648,000		1,520,000	778,000		1,614,000	820,000	2,608,000	1,724,000
change in cash collateral receivable														-16,000,000	4,000,000	2,000,000	54,000,000	-2,000,000			11,000,000		11,000,000	43,000,000	-56,000,000	10,063,000	8,184,000	56,771,000	-68,689,000	10,172,000	1,760,000	-979,000	30,081,000	63,559,000	9,615,000
payments for extinguishment of surplus notes															0														0
current income taxes																		0	-1,000,000	0	-3,000,000	8,000,000	16,000,000	-2,000,000	-5,000,000	-5,151,000	28,768,000	4,232,000	-14,521,000	2,587,000	-15,125,000	-8,439,000	-7,842,000	733,000	11,550,000	-2,121,000	12,825,000	1,486,000	-2,463,000	-2,655,000	-3,368,000	3,023,000	-310,000	496,000	-601,000	627,000	743,000	300,000	-2,823,000	75,097,000	-1,449,000	2,350,000	85,000	65,000	-122,000	443,944,000	-472,005,000	241,062,000	1,149,000	1,025,000	561,163,000	-126,040,000	-801,836,000	76,218,000	65,514,000	-16,915,000	-70,031,000	69,338,000	20,639,000	-58,413,000	4,990,000	65,978,000	21,526,000	-8,304,000	-47,177,000	50,499,000		-3,791,000	9,593,000		-19,335,000	16,734,000	-61,470,000	-79,395,000
net realized investment gains																		-3,000,000	-3,000,000	1,000,000	-2,000,000	-2,000,000	-2,000,000	-10,000,000	-8,000,000	-18,471,000	-35,860,000	-17,233,000	-29,413,000	-30,201,000	-47,148,000	-4,862,000	-6,150,000	-4,180,000	4,896,000	-11,536,000	-11,749,000	-14,897,000	-1,102,000	-2,106,000	-54,101,000	-16,289,000	27,588,000	-46,060,000				-392,000	-12,341,000	-5,084,000	-591,000	-2,450,000	-6,100,000	-1,996,000	-94,806,000	-56,549,000	-66,885,000							147,580,000	31,077,000	-4,163,000	-1,191,000	-6,601,000	-9,631,000	-7,965,000	-44,411,000	-5,124,000	2,191,000	-9,533,000	587,000	-1,866,000		-21,026,000	-17,798,000		-31,669,000
acquisition of xchange, net of cash acquired
proceeds from issuance of ambac uk debt																										0
issuance of auction market preferred shares of ambac assurance																										0	16,054,000	2,764,000
paydowns of ambac note																			-1,625,000,000	0	-16,000,000	-6,000,000	-12,000,000	-26,000,000	-77,000,000	-6,816,000	-8,768,000	-13,146,000	-28,324,000	-72,281,000
noncontrolling interest in subsidiaries’ earnings																																				-198,000	-36,000			-44,000	160,000	107,000	-352,000	-47,000	-275,000	-171,000	-2,232,000	2,000	15,000	-2,000	14,000	33,000	76,000	13,000	-15,000	-11,000	13,000	-14,000	11,000	-13,000
dividends paid to noncontrolling interest holders
exchange for auction market preferred shares																													0
amortization of insurance intangible assets																						16,000,000	14,000,000	14,000,000	13,000,000	17,421,000	226,242,000	36,278,000	28,982,000	26,421,000	23,242,000	28,636,000	45,690,000	33,471,000	37,525,000	40,152,000	44,553,000	39,013,000	50,890,000	39,680,000	37,432,000	31,714,000
net proceeds from issuance of tier 2 notes																													0	0
paydowns of a secured borrowing																													0	0	-65,196,000	-8,797,000	-7,737,000	-6,574,000	-10,355,000	-4,176,000	-11,676,000	-4,759,000	-8,871,000
net mark-to-market (gains) losses																							0	-1,000,000	2,000,000			-382,000	284,000	-151,000			-45,000			-1,351,000	-1,507,000	-3,722,000	-12,614,000	-35,259,000	2,918,000	-6,607,000	-34,868,000	-10,278,000											-2,967,920,000	179,802,000
other-than-temporary impairment charges																										42,000	0	29,000	1,659,000	266,000	1,014,000	299,000	13,510,000	1,763,000	3,942,000	2,191,000	2,853,000	7,441,000	9,334,000	9,150,000	3,119,000	10,392,000			237,000	354,000	2,328,000	3,071,000	33,665,000	10,887,000	17,578,000	1,713,000	11,304,000	6,584,000	10,566,000	31,349,000	118,054,000	43,171,000
proceeds from warrant exercises																													0	0						0	0
net mark-to-market losses																																452,000			-853,000										26,464,000	-24,496,000					-20,063,000	14,226,000					-792,144,000	-2,865,756,000	-35,597,000	-1,529,007,000	-326,558,000	1,901,080,000	-959,004,000	1,767,933,000	5,229,279,000	757,555,000
investment income due and accrued																													-896,000	1,430,000	8,359,000	-3,926,000	4,119,000	3,005,000	-1,250,000	-605,000	-327,000	304,000	-122,000	166,000	21,000	3,022,000	-3,555,000	5,798,000	-2,560,000	5,469,000	-2,820,000	5,497,000	-4,320,000	4,554,000	-5,847,000	5,351,000	-7,720,000	10,649,000	-1,420,000	26,487,000	-10,296,000	14,941,000	-5,592,000	40,521,000	23,198,000	34,415,000	-28,413,000	56,768,000	-27,522,000	7,992,000	-28,593,000	38,585,000	-17,705,000	-590,000	-31,990,000	28,417,000	-23,064,000	3,768,000	-20,552,000	23,575,000		17,078,000	33,482,000		495,000	20,495,000	16,502,000	-11,670,000
payments for investment agreement draws																																	0	0	-82,358,000	0	25,000			-14,000,000	-49,872,000																																									-504,927,000	-1,378,861,000	-951,991,000
cost of warrants acquired																																				-613,000	-494,000
loans																																	-265,000	-5,888,000	-77,000	353,000	102,000	494,000	97,000	175,000	220,000	-71,000	-282,000	512,000	1,177,000	-227,000	9,090,000	-247,000	1,039,000	236,000	126,000	-230,000	831,000	49,850,000	241,000	9,321,000	77,575,000	3,898,000	-18,395,000	419,245,000	3,126,000	-2,554,000	2,623,000	29,482,000	2,961,000	-9,273,000	-258,740,000	22,798,000	-136,910,000	5,026,000	161,191,000	30,033,000	-71,711,000	5,192,000	21,986,000	39,873,000		2,552,000	5,022,000		23,362,000	5,200,000	52,795,000	-31,019,000
proceeds from sales of senior surplus notes
payments for extinguishment of long-term debt																															0	-191,258,000	0	-25,833,000	-43,666,000	0	0	-8,097,000	-11,453,000	0						0
net proceeds from issuance of tier ii notes																																240,000,000
net income attributable to common shareholders																																	-190,905,000							-390,987,000	214,711,000	155,942,000	-76,618,000	282,299,000	143,576,000	157,544,000	-811,118,000	253,320,000							-57,559,000	-690,051,000
cash and cash equivalents at beginning of period																																	0	0	91,025,000	0	0	0	35,744,000	0	73,903,000
cash and cash equivalents end of period																																	52,780,000	-64,534,000	118,772,000	69,807,000	-1,826,000	-6,098,000	29,142,000	-6,866,000	26,641,000
supplemental disclosure of cash flow information:
interest on long-term debt and investment agreements																																	854,000	8,680,000	28,791,000
non-cash financing activities:
decrease in long-term debt as a result of an exchange for investment securities																																	0	0	55,426,000
impairment of goodwill
reorganization items																																										23,000	-1,635,000	2,059,000	2,735,000	1,252,000	767,000	2,461,000	10,067,000	8,519,000	6,470,000	24,805,000
proceeds from the sale of junior surplus notes of the segregated account
net proceeds received from a secured borrowing
net realized (gains) losses on extinguishment of debt																																					-24,000	-3,586,000	-1,235,000
change in swap collateral receivable																																					38,980,000	-61,178,000	-29,788,000	-36,742,000	-37,239,000	-35,410,000	9,149,000	1,740,000	6,218,000	11,026,000	-14,655,000	41,046,000	5,563,000	1,317,000	-52,156,000	-104,000	92,895,000	-40,200,000	67,432,000	-2,984,000	14,613,000	130,328,000
net cash (used in) investing activities																																					57,018,000	-16,274,000	-813,958,000		-2,972,000
proceeds received from a secured borrowing
effect of foreign exchange rate changes on cash and cash equivalents
interest on secured borrowing																																					1,261,000	681,000	1,372,000
interest on investment agreements																																					136,000	153,000	146,000	102,000	88,000	202,000	-1,521,000	1,724,000	902,000	1,792,000	1,498,000	3,072,000	825,000	3,269,000	706,000	3,656,000		6,646,000	2,582,000	7,947,000	5,434,000	10,849,000	5,909,000	21,678,000	48,689,000	73,996,000	49,302,000	104,507,000	115,189,000	91,990,000	117,783,000	83,418,000	100,565,000	104,226,000	74,804,000	79,986,000
net cash (used in) financing activities																																						-32,453,000	-20,324,000																-267,556,000	-30,773,000
cash payments related to reorganization items:
professional fees paid for services rendered in connection with the chapter 11 proceeding																																										81,000	-2,451,000	3,246,000	1,479,000	706,000	5,315,000	1,641,000	12,847,000	6,681,000	6,268,000	5,457,000
losses on extinguishment of debt																																									93,000
proceeds from warrant exercise																																									2,000	1,000
deferred acquisition costs																																												6,854,000	6,658,000	6,089,000	7,094,000	4,509,000	1,919,000	12,796,000	9,521,000	2,903,000	1,322,000	11,287,000	10,147,000	6,299,000	20,423,000	-89,759,000	-21,105,000	10,254,000	14,559,000	6,039,000	11,972,000	15,840,000	21,980,000	-6,384,000	-7,953,000	-4,719,000	-15,958,000	-6,251,000	3,289,000	-12,292,000	-461,000	-2,929,000	2,838,000	-16,877,000		-15,003,000	-1,227,000		-591,000	-385,000	-9,241,000	-6,868,000
gains on extinguishment of debt
paydowns of variable interest entity secured borrowing																																											757,000	-4,067,000
interest on variable interest entity secured borrowing																																											-128,000	218,000	311,000	334,000	498,000	429,000
interest on surplus notes
cash at january 1																																										77,370,000		43,837,000	0	0	0	15,999,000							0	112,079,000					0	0	0	123,933,000	0	0	0	31,868,000	-676,000	0	0	28,295,000	0	0	0	19,957,000	-24,216,000	24,449,000	24,449,000
cash at march 31																																										31,700,000		53,135,000				39,931,000								114,808,000								99,229,000				31,489,000				26,497,000				41,699,000			20,046,000
•
payments for investment and repurchase agreement draws																																													-53,663,000	-28,489,000	-104,214,000	-420,000
cash at beginning on period
cash at ending of period
cash receipts and payments related to reorganization items:
enterprise value
add: fair value of liabilities
add: fair value of noncontrolling interest
reorganization value allocated to assets
less: fair value of identified tangible and intangible assets
reorganization value in excess of fair value of assets
other investments																																												-113,712,000
cash paid during the year for:
debt obligations and accrued interest payable																																												1,690,312,000		0
accounts payable																																												14,329,000
consolidated liabilities subject to compromise																																												1,704,641,000		-3,000
payable to non-debtor subsidiaries																																														0
debtor’s liabilities subject to compromise																																												1,704,641,000		-3,000
losses (gains) on extinguishment of debt																																													-165,000	0
proceeds received from a newly established variable interest entity
proceeds from issuance of investment and repurchase agreements
payments for extinguishment of debt
net cash collateral received																																																										-72,303,000	28,814,000	2,902,000	-504,853,000	6,696,000			-64,839,000	-19,471,000	79,420,000	-1,728,000	2,891,000	-14,886,000	13,488,000	703,000	3,068,000			5,810,000		36,676,000	26,815,000
cash at december 31
net realized investment (gains) losses																																														-3,162,000																																				-14,251,000
paydown of variable interest entity secured borrowing																																														-4,496,000	-3,356,000	-7,280,000
cash at september 30
cash at june 30																																																																														33,164,000
net mark-to-market gains																																																10,476,000	-24,518,000
transfers to restricted cash
dividends paid—subsidiary shares to noncontrolling interest
interest expense on long-term debt																																																						17,210,000			26,196,000	18,162,000	26,195,000	30,463,000	26,195,000	30,463,000											14,878,000	27,415,000	26,340,000	18,146,000
net loss attributable to common shareholders																																																		-75,507,000	-102,432,000	-819,279,000	-81,595,000					2,188,257,000	-2,368,794,000	-392,187,000
net loss																																																		-75,509,000	-102,418,000	-819,246,000	-81,519,000					2,188,243,000	-2,368,783,000	-392,200,000
adjustments to reconcile net loss to net cash from operating activities:
loss and loss expense																																																		-55,992,000	187,936,000	921,429,000		108,306,000	340,463,000	-77,859,000
dividends paid – subsidiary shares to noncontrolling interest																																																						0	-1,000	-816,000		-1,894,000	-5,201,000	-5,053,000
proceeds from issuance of investment and payment agreements																																																		4,000	2,000	24,000	-22,000	84,000	69,000	1,184,000	42,384,000	30,225,000	57,000	23,474,000	44,496,000	22,699,000	12,714,000	4,503,000	643,387,000	929,577,000	807,020,000	121,575,000	763,754,000	279,182,000	1,068,415,000	277,937,000	305,832,000	250,568,000	874,334,000	221,295,000		934,521,000	391,879,000		956,327,000
payments for investment and payment agreement draws																																																		-1,400,000						-31,145,000								-914,624,000		-266,012,000	-166,145,000	-579,758,000		-185,263,000	-588,408,000	-309,548,000		-415,226,000	-466,813,000	-292,223,000		-1,218,540,000	-391,068,000		-1,062,892,000
net cash collateral paid/received																																																		0	0	-2,440,000		5,090,000
cash and cash equivalents at january 1																																																		0	0	9,497,000	0					0	0	107,811,000
cash and cash equivalents at september 30
cash and cash equivalents at june 30
payments for investment and payment draws																																																				-89,673,000	-109,507,000	-77,593,000			-219,619,000	-212,403,000	-444,896,000	-985,803,000	-2,321,308,000	-1,707,474,000
cash and cash equivalents at march 31																																																				7,626,000								107,866,000
dividends paid—common stockholders
securities sold under agreements to repurchase																																																													0	-139,000	139,000	-100,000,000				128,000,000		37,000,000	-19,000,000	39,000,000						-2,300,000	-62,300,000		8,092,000	140,154,000	-14,366,000	-16,000,000
proceeds from issuance of long-term debt																																																													0	0														50,000,000
proceeds from issuance of subsidiary shares to noncontrolling interest
retirement of subsidiary shares to noncontrolling interest																																																									0	-9,372,000	0	-1,806,000
capital issuance costs																																																									0	0	0	-297,000	-6,836,000	-4,924,000	-3,278,000	-3,260,000	-3,188,000	-1,197,000	-798,000	-887,000	-862,000	-771,000	-971,000	-894,000	-1,007,000	-1,168,000	-1,683,000	-1,177,000		-2,158,000	-1,132,000		-2,471,000	-1,476,000	-6,969,000	-5,767,000
proceeds from issuance of common stock																																																													0	0	-730,000	1,182,762,000
purchases of treasury stock																																																													-18,000	-405,000	-26,000	-641,000	-6,000	-20,500,000	-17,084,000	-411,802,000	-59,461,000	-23,443,000	-976,000	-42,823,000	-2,920,000	-165,926,000	-140,103,000	-721,000	-208,000	-51,566,000	-24,992,000	4,936,000	-23,835,000	-7,708,000	-38,654,000	-15,829,000
excess tax benefit related to share-based compensation																																																													-129,000	-10,291,000			-706,000	637,000	5,249,000	3,331,000	2,761,000	5,576,000	1,064,000	8,418,000
cash and cash equivalents at december 31
proceeds from the issuance of subsidiary shares to noncontrolling interest																																																										0	0	100,000,000
adjustments to reconcile net income to net cash from provided by operating activities:
net cash (used in) operating activities
recoveries from impaired investments																																																									0	0			0	0			252,000	0	0	6,206,000	4,692,000	6,636,000
cash acquired in consolidation of variable interest activities
item 1.
net cash collateral paid																																																								4,000
supplemental disclosures of cash flow information:
interest on long-term debt																																																								18,163,000								24,525,000		24,730,000	20,258,000	12,225,000		12,301,000	36,781,000	36,967,000
ceded reinsurance balances payable																																																													2,138,000	-1,164,000	-1,582,000	-16,230,000	8,029,000	5,208,000	-1,690,000	804,000	3,120,000	-21,116,000	22,343,000	-8,009,000	4,674,000	-12,424,000	17,803,000	-4,555,000		7,751,000	1,660,000		-1,896,000	-5,358,000	1,102,000	-315,000
securities purchased under agreements to resell																																																																	0	270,000,000	-270,000,000	273,000,000	-73,000,000	0	106,000,000	113,000,000	-387,000,000	-7,000,000	72,000,000	256,000,000		11,015,000	-92,985,000		81,210,000	253,816,000	-13,304,000	-2,805,000
cash acquired in consolidation of variable interest entities																																																									0	0
payments for redemption of variable interest entity long-term debt																																																									-77,288,000
proceeds from sale of treasury stock																																																																3,000	0	1,676,000	17,713,000	7,905,000	11,884,000	36,474,000	3,171,000	9,484,000	19,160,000	5,176,000	6,023,000	249,000	-11,399,000	25,707,000	18,905,000	-4,936,000	35,715,000	9,936,000	38,047,000
dividends paid – common stockholders
net realized investment losses																																																											-841,728,000	711,816,000	-98,953,000
dividends paid																																																													-2,880,000	-2,880,000	-2,876,000	-7,168,000	-21,325,000	-21,322,000	-18,382,000	-18,537,000	-19,103,000	-19,074,000	-15,866,000	-15,867,000	-15,801,000	-15,955,000	-13,433,000	-13,616,000	-13,595,000	-23,754,000	-11,830,000	-11,760,000	-21,231,000	-10,602,000	-29,654,000	-19,064,000
payments for redemption of long-term debt																																																																					-26,796,000	-8,014,000	-156,607,000	-8,583,000	50,546,000	-25,567,000
proceeds from minority interest
background and basis of presentation
change in trading account assets
loss and loss expenses																																																																1,007,095,000		22,690,000	23,838,000	11,041,000		-11,425,000	-7,086,000	-7,576,000		75,926,000	-24,742,000	-812,000		49,524,000
proceeds from the issuance of long-term debt																																																																228,969,000		5,200,000	275,490,000	393,340,000		50,000,000	0	50,000,000		50,000,000
cash collateral payable																																																																3,108,000
excess tax (cost) benefit related to share-based compensation																																																																-3,217,000
issuance of common stock																																																																									0	1,000	855,000	908,000	5,238,000	38,751,000	17,323,000	14,249,000	11,494,000	132,000	4,288,000	4,284,000
cash received during the year for:
adjustments to reconcile net income to net cash
provided by operating activities:
change in trading account
jurisdiction
united states																																																																		0
new york state																																																																		0
new york city																																																																		0
united kingdom																																																																		0
proceeds from the sales of cadre financial services, inc.
other liabilities																																																																					263,870,000
total liabilities																																																																					13,042,815,000
accumulated other comprehensive income																																																																					200,005,000
total stockholders’ equity
assets:
cash
loans investment in fixed income securities
derivative assets
other assets
total assets																																																																												10,332,236,000
liabilities:
long-term debt
derivative liabilities
deferred taxes
stockholders’ equity:
total liabilities and stockholders’ equity
purchases of securitization collateral																																																																										0	45,808,000	-101,600,000
2005: fixed income securities:
municipal obligations
corporate obligations
foreign obligations
u.s. government obligations
u.s. agency obligations
mortgage and asset-backed securities
short-term
fixed income securities pledged as collateral:
total
2004: fixed income securities:
proceeds from the sale of cadre financial services, inc.
interest expense on investment agreements																																																																										63,345,000	65,120,000	48,788,000		78,713,000	38,713,000		101,447,000		164,261,000	114,631,000
cash received during the period for:
(dollars in thousands) three months ended september 30,
2005:
revenues:
unaffiliated customers																																																																												323,381,000		298,227,000	271,250,000		268,888,000	224,303,000		190,089,000
intersegment																																																																												198,000		5,599,000	5,717,000		1,218,000	1,770,000		3,954,000
total revenues																																																																												323,579,000		303,826,000	276,967,000		270,106,000	226,073,000		194,043,000
income before income taxes:
total income before income taxes																																																																												256,848,000		257,801,000	234,271,000		238,729,000	194,592,000		169,754,000
2004:
(dollars in thousands) nine months ended september 30,
net cash collateral (paid) received
payment for redemption of long-term debt																																																																												-27,336,000
(dollars in thousands) three months ended march 31,
equity in undistributed net income of subsidiaries
net realized losses
increase in current income taxes receivable
increase in other assets
proceeds from maturities of bonds
proceeds from the sale of cadre financial services
proceeds from issuance of debentures																																																																																0	363,188,000	363,188,000
payment for buyback of debentures																																																																																0	-200,000,000
contribution to subsidiaries
interest expense on debt																																																																													11,858,000	27,583,000	15,725,000	11,858,000	26,840,000	14,811,000	38,407,000	17,647,000
insurance premiums written
year ended december 31, 2002
year ended december 31, 2003
year ended december 31, 2004
net mark-to-market (gains) losses on credit derivative contracts and derivative hedge contracts																																																																														-10,322,000	-7,025,000
payment for redemption of debentures
(dollars in thousands) three months ended june 30,
identifiable assets																																																																														8,791,608,000	8,638,579,000		7,787,223,000	7,321,128,000		6,318,366,000
2003:
net realized (gains) losses
decrease (increase) in current income taxes receivable
decrease (increase) in other assets
proceeds from intercompany note
year ended december 31, 2001
losses and loss adjustment expenses																																																																																	10,533,000	5,112,000	14,757,000	9,510,000
net unrealized losses on credit derivative contracts and derivative hedge contracts																																																																																	1,446,000
cash and cash pledged as collateral at january 1																																																																																	25,816,000	25,816,000	76,580,000	76,580,000
cash and cash pledged as collateral at september 30
2002:
cash and cash pledged as collateral at june 30																																																																																	26,980,000			37,131,000
net mark-to-market losses on credit derivative contracts and derivative hedge contracts																																																																																		11,499,000
proceeds from issuance of investment agreements																																																																																		674,586,000	2,105,362,000	1,867,007,000
payment agreements																																																																																		-6,767,000	-5,755,000	-11,464,000
cash and cash pledged as collateral at march 31																																																																																		51,056,000
interest expense on investment and payment agreements																																																																																		83,272,000
three months ended march 31,
year ended december 31, 2000
net securities losses																																																																																			8,984,000	8,759,000
three months ended september 30,
2001:
proceeds from issuance of treasury stock																																																																																				37,127,000
three months ended june 30,

Ambac Financial Group, Inc(NYSE:AMBC)

Ambac Financial Group, Inc
(NYSE:AMBC)