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Financial Guarantees in Force (Tables)
12 Months Ended
Dec. 31, 2013
Text Block [Abstract]  
Summary of Financial Guarantee Portfolio Diversification by Type of Guaranteed Bond

As of December 31, 2013 and 2012, the guarantee portfolio was diversified by type of guaranteed bond as shown in the following table:

 

     Net Par Amount Outstanding  
     Successor Ambac      Predecessor Ambac  
     2013      2012  

Public Finance:

     

Lease and tax-backed revenue

   $ 41,858,000       $ 50,415,000   

General obligation

     29,115,000         34,623,000   

Utility revenue

     14,933,000         18,651,000   

Transportation revenue

     9,653,000         13,892,000   

Higher education

     7,810,000         10,382,000   

Housing revenue

     7,439,000         8,176,000   

Health care revenue

     3,903,000         5,266,000   

Other

     1,351,000         1,613,000   
  

 

 

    

 

 

 

Total Public Finance

     116,062,000         143,018,000   
  

 

 

    

 

 

 

Structured Finance:

     

Mortgage-backed and home equity

     16,026,000         19,117,000   

Investor-owned utilities

     5,881,000         7,071,000   

Student loan

     4,357,000         5,411,000   

Asset-backed(1)

     2,361,000         2,905,000   

CDOs

     897,000         5,941,000   

Other

     1,890,000         1,914,000   
  

 

 

    

 

 

 

Total Structured Finance

     31,412,000         42,359,000   
  

 

 

    

 

 

 

International Finance:

     

Investor-owned and public utilities

     9,595,000         10,314,000   

Sovereign/sub-sovereign

     7,394,000         7,289,000   

Asset-backed(1)

     6,884,000         8,702,000   

Transportation

     5,021,000         6,002,000   

CDOs

     822,000         3,191,000   

Mortgage-backed and home equity

     484,000         1,268,000   

Other

     1,418,000         1,490,000   
  

 

 

    

 

 

 

Total International Finance

     31,618,000         38,256,000   
  

 

 

    

 

 

 

Total

   $ 179,092,000       $ 223,633,000   
  

 

 

    

 

 

 

 

(1) At December 31, 2013 and 2012, all asset-backed net par amounts outstanding relate to commercial asset-based transactions.
Summary of International Finance Guaranteed Portfolio

As of December 31, 2013 and 2012, the International Finance guaranteed portfolio is shown in the following table by location of risk:

 

     Net Par Amount Outstanding  
     Successor Ambac      Predecessor Ambac  
     2013      2012  

United Kingdom

   $ 21,282,000       $ 22,585,000   

Australia

     3,331,000         4,820,000   

Italy

     2,412,000         3,068,000   

Austria

     967,000         943,000   

New Zealand

     526,000         529,000   

Internationally diversified(1)

     1,918,000         3,968,000   

Other international

     1,182,000         2,343,000   
  

 

 

    

 

 

 

Total International Finance

   $ 31,618,000       $ 38,256,000   
  

 

 

    

 

 

 

 

(1) Internationally diversified obligations represent pools of geographically diversified exposures which may include components of U.S. exposure.