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Consolidated Balance Sheets (USD $)
In Thousands, unless otherwise specified
Mar. 31, 2012
Dec. 31, 2011
Assets:    
Fixed income securities, at fair value $ 5,763,133 $ 5,830,289
Fixed income securities pledged as collateral, at fair value (amortized cost of $286,846 in 2012 and $261,958 in 2011) 287,762 263,530
Short-term investments (amortized cost of $893,649 in 2012 and $783,015 in 2011) 893,822 783,071
Other (approximates fair value) 100 100
Total investments 6,944,817 6,876,990
Cash 39,931 15,999
Restricted cash 2,500 2,500
Receivable for securities 108,185 38,164
Investment income due and accrued 39,831 45,328
Premium receivables 1,917,536 2,028,479
Reinsurance recoverable on paid and unpaid losses 170,799 159,902
Deferred ceded premium 202,226 221,303
Subrogation recoverable 519,404 659,810
Deferred acquisition costs 219,001 223,510
Loans 19,243 18,996
Derivative assets 272,658 175,207
Other assets 58,875 104,300
Total assets 27,372,884 27,113,695
Liabilities:    
Liabilities subject to compromise 1,707,417 1,707,421
Unearned premiums 3,291,152 3,457,157
Losses and loss expense reserve 6,924,346 7,044,070
Ceded premiums payable 99,643 115,555
Obligations under investment agreements 523,831 523,046
Obligations under investment repurchase agreements 23,500 23,500
Current taxes 97,449 95,709
Long-term debt 227,189 223,601
Accrued interest payable 196,853 170,169
Derivative liabilities 387,476 414,508
Other liabilities 97,144 107,441
Payable for securities purchased 37,856 1,665
Total liabilities 30,286,526 30,263,228
Stockholders' deficit:    
Preferred stock      
Common stock 3,080 3,080
Additional paid-in capital 2,172,027 2,172,027
Accumulated other comprehensive income 445,797 463,259
Accumulated deficit (5,786,940) (6,039,922)
Common stock held in treasury at cost (411,081) (411,419)
Total Ambac Financial Group, Inc. stockholders' deficit (3,577,117) (3,812,975)
Noncontrolling interest 663,475 663,442
Total stockholders' deficit (2,913,642) (3,149,533)
Total liabilities and stockholders' deficit 27,372,884 27,113,695
Variable Interest Entity [Member]
    
Assets:    
Fixed income securities, at fair value 2,184,665 2,199,338
Restricted cash 2,297 2,140
Investment income due and accrued 1,215 4,032
Loans 14,661,522 14,329,515
Other assets 8,179 8,182
Liabilities:    
Long-term debt 14,666,921 14,288,540
Accrued interest payable 890 3,490
Derivative liabilities 2,004,544 2,087,052
Other liabilities $ 315 $ 304