Financial Performance - Ambac reported a net income of $20.1 million or $0.43 per diluted share for Q1 2024, a significant increase from a net loss of $33.4 million in Q1 2023[3] - Adjusted net income for Q1 2024 was $38.5 million, compared to a loss of $13.8 million in Q1 2023, marking a 379% improvement[3] - Net income attributable to common stockholders for Q1 2024 was $20 million, compared to a net loss of $33 million in Q1 2023, representing a significant turnaround[38] - EBITDA for Q1 2024 was $54.5 million, compared to a loss of $(5.1) million for Q1 2023[27] - The company reported a pretax income of $26 million for Q1 2024, a significant improvement from a pretax loss of $29 million in Q1 2023[38] - The company reported a pretax income of $25.5 million in Q1 2024, a significant recovery from a pretax loss of $28.8 million in Q1 2023[42] - Net income for Q1 2024 was $20.8 million, compared to a net loss of $32.7 million in Q1 2023, indicating a turnaround in profitability[42] Premiums and Revenues - Gross written premiums reached $98.1 million, up 62% from $60.7 million in Q1 2023, while net premiums earned increased by 139% to $33.1 million[3] - Total revenues and other income increased to $103 million in Q1 2024, up from $58 million in Q1 2023, reflecting a growth of approximately 77.6%[38] - Net premiums earned rose to $33 million in Q1 2024, compared to $14 million in Q1 2023, marking an increase of 135.7%[38] - Total revenues and other income reached $102.6 million in Q1 2024, up from $57.5 million in Q1 2023, marking an increase of 78.3%[42] Investment Income - Net investment income rose to $41.7 million, a 22% increase from $34.1 million in Q1 2023, driven by higher yields[3] - The company reported a decrease in net investment gains of $(0.6) million in Q1 2024, compared to gains of $4.4 million in Q1 2023[24] - Net investment income rose to $41.7 million in Q1 2024, compared to $34.1 million in Q1 2023, reflecting a growth of 22.4%[42] Expenses and Cost Management - General and administrative expenses for Q1 2024 were $36 million, unchanged from the prior year, with expenses related to P&C growth initiatives offsetting reductions elsewhere[18] - Total expenses decreased to $77 million in Q1 2024 from $86 million in Q1 2023, a reduction of approximately 10.5%[38] - General and administrative expenses totaled $35.2 million in Q1 2024, a decrease from $36.0 million in Q1 2023, showing cost management efforts[42] Equity and Assets - The company’s stockholders' equity increased to $1.37 billion, or $30.19 per share, up from $1.36 billion or $30.13 per share at the end of 2023[20] - Total Ambac Financial Group, Inc. stockholders' equity was $1,365.2 million as of March 31, 2024, compared to $1,361.7 million at December 31, 2023[29] - Adjusted book value increased to $1.31 billion, or $29.03 per share, at March 31, 2024, from $1.30 billion, or $28.74 per share, at December 31, 2023[29] - The company's total assets remained stable at $8,429 million as of March 31, 2024, compared to $8,428 million at the end of 2023[40] Segment Performance - The Specialty P&C segment (Everspan) achieved a combined ratio of 98.4%, improving from 121.9% in the same quarter last year[3] - Total Specialty P&C Insurance production was $187 million, reflecting a 45% increase compared to Q1 2023[8] - The Legacy Financial Guarantee segment generated net income of $20 million, with net premiums earned slightly increasing to $7.5 million[11] Other Notable Information - The company is actively reviewing its Legacy Financial Guarantee business and is in discussions with interested parties, expecting to provide updates in the next reporting period[3] - Watch List and Adversely Classified Credits (WLACC) decreased by 4.0% to $5.5 billion in Q1 2024 from December 31, 2023[22] - Cash and cash equivalents increased to $44 million in Q1 2024, up from $28 million in Q4 2023[40] - The company's long-term debt stood at $512 million as of March 31, 2024, slightly up from $508 million at the end of 2023[40] - The loss and loss adjustment expense reserves decreased to $851 million in Q1 2024 from $893 million in Q4 2023, indicating improved reserve management[40] - The commission income remained stable at $17.7 million in Q1 2024, consistent with $14.5 million in Q1 2023, indicating steady performance in this segment[42] - The company plans to discuss Q1 2024 results in a conference call on May 7, 2024[30] - The company is committed to providing timely and accurate information to the investing public through its website[32]

Ambac Financial Group, Inc. (NYSE:AMBC) Q4 2023 Results Conference Call February 28, 2024 8:30 AM ET Company Participants Charles Sebaski - Head of IR Claude LeBlanc - President and CEO David Trick - EVP, CFO and Treasurer Conference Call Participants Dennis Chua - Repertoire Partners Operator Greetings, and welcome to the Ambac Financial Group, Inc. Fourth Quarter 2023 Earnings Call. [Operator Instructions] As a reminder, this conference is being recorded. It is now my pleasure to turn the call over to Cha ...

Exhibit 99.1 Ambac Reports Fourth Quarter 2023 Results NEW YORK, NY, February 27, 2024 (BUSINESS WIRE) -- Ambac Financial Group, Inc. (NYSE: AMBC) ("Ambac" or "AFG"), a financial services holding company, today reported its results for the fourth quarter and year ended December 31, 2023. • Net loss of $(16) million or $(0.24) per diluted share and Adjusted net income of $10 million or $0.32 per diluted share in the fourth quarter of 2023 • Legacy Financial Guarantee segment generated net loss of $(12) milli ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Fiscal Year Ended December 31, 2023 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number: 1-10777 AMBAC FINANCIAL GROUP, INC. | --- | --- | --- | --- | |--------------------------------------------------------------|----------------|------------------|---- ...

In the stock market, pursuing high-growth stocks becomes a compelling venture, akin to searching for pearls in the vast sea of possibilities. The year 2024 unfolds with promises of prosperity and strategic opportunities, and within this realm, seven stocks emerge as yielders of potential riches.Picture a dynamic space where each stock is a thread contributing to the grand design of wealth creation. With its remarkable surge in total revenue and efficient scalability, the first one sets the stage for our exp ...

akinbostanci Ambac (NYSE:AMBC) is a complex company with many activities, and we believe the market is failing to properly evaluate it. We think that comparing it with the only publicly listed “competitor” may be useful to shed some clarity over its financial guarantees business. MBIA Inc, indeed, recently paid a special dividend that was greater that its market cap, after the regulators allowed for the release of extra liquidity in their subsidiaries. Will this be the case for Ambac too? Let’s look clo ...

Third Quarter 2023 Investor Presentation Quarterly Highlights Forward Looking Statement In this pr ...

Start Time: 08:30 January 1, 0000 8:56 AM ET Ambac Financial Group, Inc. (NYSE:AMBC) Q3 2023 Earnings Conference Call November 08, 2023, 08:30 AM ET Company Participants Claude LeBlanc - President and CEO David Trick - EVP, CFO and Treasurer Charles Sebaski - Head of IR Conference Call Participants Giuliano Bologna - Compass Point Dennis Chua - Repertoire Partners Operator Ladies and gentlemen, good morning, and welcome to the Ambac Financial Group Third Quarter 2023 Earnings Conference Call. At this time, ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended September 30, 2023 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number: 1-10777 AMBAC FINANCIAL GROUP, INC. (Exact name of Registrant as specified in its charter) | --- | --- | --- | --- | |--------------------------------------------------------- ...

Second Quarter 2023 Investor Presentation Quarterly Highlights Forward Looking Statement In this pr ...