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    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsMajorClassNameDomain_7E9619B961DD8F7A5266863C60851B9D_terseLabel_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsMajorClassNameDomain_7E9619B961DD8F7A5266863C60851B9D" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Finite-Lived Intangible Assets, Major Class Name [Domain]</link:label>
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    <link:label id="lab_ambc_InsuranceAssetMember_9906A50A60A9E1D8C41B863C608574E5_verboseLabel_en-US" xlink:label="lab_ambc_InsuranceAssetMember_9906A50A60A9E1D8C41B863C608574E5" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Insurance Intangible Asset [Member]</link:label>
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    <link:label id="lab_ambc_EstimatedFuturePremiumPaymentsWeightedAverageDiscountedRate_0F0FD50C806CDA00E7B2863C60855394_documentation_en-US" xlink:label="lab_ambc_EstimatedFuturePremiumPaymentsWeightedAverageDiscountedRate_0F0FD50C806CDA00E7B2863C60855394" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Weighted average discounted rate of estimated future premium payments to be paid by the VIEs.</link:label>
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    <link:label id="lab_ambc_AmountOfInsuredParOutstandingCededToReinsurer_3CD6F35FEE6B941B787C863C60854697_terseLabel_en-US" xlink:label="lab_ambc_AmountOfInsuredParOutstandingCededToReinsurer_3CD6F35FEE6B941B787C863C60854697" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Amount Of Insured Par Outstanding Ceded To Reinsurer</link:label>
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    <link:label id="lab_ambc_CededPrincipalOutstandingMajorReinsurerPercentage_664FEF3775912033B1B0863C608583A3_terseLabel_en-US" xlink:label="lab_ambc_CededPrincipalOutstandingMajorReinsurerPercentage_664FEF3775912033B1B0863C608583A3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Ceded Principal Outstanding Major Reinsurer Percentage</link:label>
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    <link:loc xlink:href="ambc-20160331.xsd#ambc_CededPrincipalOutstandingMajorReinsurerPercentage" xlink:label="loc_ambc_CededPrincipalOutstandingMajorReinsurerPercentage_664FEF3775912033B1B0863C608583A3" xlink:type="locator" />
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    <link:label id="lab_ambc_FinancialGuaranteeGrossOutstandingPrincipalAssumedFromThirdParties_D8720B56C20B86DF3AF0863C60851939_terseLabel_en-US" xlink:label="lab_ambc_FinancialGuaranteeGrossOutstandingPrincipalAssumedFromThirdParties_D8720B56C20B86DF3AF0863C60851939" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Financial Guarantee Gross Outstanding Principal Assumed From Third Parties</link:label>
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    <link:label id="lab_ambc_DeferredCededPremiumsAndReinsuranceRecoverables_F226F953FB1E991D5250863C60854D87_terseLabel_en-US" xlink:label="lab_ambc_DeferredCededPremiumsAndReinsuranceRecoverables_F226F953FB1E991D5250863C60854D87" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Deferred Ceded Premiums And Reinsurance Recoverables</link:label>
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    <link:label id="lab_ambc_DeferredCededPremiumsAndReinsuranceRecoverables_F226F953FB1E991D5250863C60854D87_documentation_en-US" xlink:label="lab_ambc_DeferredCededPremiumsAndReinsuranceRecoverables_F226F953FB1E991D5250863C60854D87" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Includes the unexpired portion of financial guarantee premiums ceded on policies as of the balance sheet date and reinsurance recoverables on claims or claim adjustment expense paid by the ceding insurer.</link:label>
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    <link:label id="lab_ambc_DeferredAmountsandJuniorDeferredAmountsAccruedInterestRate_3D8B968BEBFF892601B2863C60856DE7_documentation_en-US" xlink:label="lab_ambc_DeferredAmountsandJuniorDeferredAmountsAccruedInterestRate_3D8B968BEBFF892601B2863C60856DE7" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Reflects the effective interest rate on Deferred Amounts and Junior Deferred Amounts of the Segregated Account of Ambac as directed by the Rehabilitator of the Segregated Account.</link:label>
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    <link:label id="lab_us-gaap_FinancialGuaranteeInsuranceContractsPremiumReceivedOverContractPeriodPremiumReceivableWeightedAverageRiskFreeDiscountRate_5827218823506F14CD1D863C60858266_terseLabel_en-US" xlink:label="lab_us-gaap_FinancialGuaranteeInsuranceContractsPremiumReceivedOverContractPeriodPremiumReceivableWeightedAverageRiskFreeDiscountRate_5827218823506F14CD1D863C60858266" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Weighted average risk-free interest rate</link:label>
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    <link:label id="lab_us-gaap_FinancialGuaranteeInsuranceContractsPremiumReceivedOverContractPeriodPremiumReceivableWeightedAverageCollectionPeriod1_B1D279A7D27E881A3A6A863C6085F76E_terseLabel_en-US" xlink:label="lab_us-gaap_FinancialGuaranteeInsuranceContractsPremiumReceivedOverContractPeriodPremiumReceivableWeightedAverageCollectionPeriod1_B1D279A7D27E881A3A6A863C6085F76E" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Weighted average period of future premiums</link:label>
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    <link:label id="lab_ambc_PercentagePremiumsReceivableRelatedToTransactionsWithNonInvestmentGradeInternalRatings_1A58E6CBE24CEFEA7DC6863C60857098_terseLabel_en-US" xlink:label="lab_ambc_PercentagePremiumsReceivableRelatedToTransactionsWithNonInvestmentGradeInternalRatings_1A58E6CBE24CEFEA7DC6863C60857098" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Transactions with non-investment grade internal ratings</link:label>
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    <link:label id="lab_ambc_PercentagePremiumsReceivableRelatedToTransactionsWithNonInvestmentGradeInternalRatings_1A58E6CBE24CEFEA7DC6863C60857098_documentation_en-US" xlink:label="lab_ambc_PercentagePremiumsReceivableRelatedToTransactionsWithNonInvestmentGradeInternalRatings_1A58E6CBE24CEFEA7DC6863C60857098" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Percentage of financial guarantee premiums receivable related to insured transactions with non-investment grade internal ratings.</link:label>
    <link:loc xlink:href="ambc-20160331.xsd#ambc_PercentagePremiumsReceivableRelatedToTransactionsWithNonInvestmentGradeInternalRatings" xlink:label="loc_ambc_PercentagePremiumsReceivableRelatedToTransactionsWithNonInvestmentGradeInternalRatings_1A58E6CBE24CEFEA7DC6863C60857098" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ambc_PercentagePremiumsReceivableRelatedToTransactionsWithNonInvestmentGradeInternalRatings_1A58E6CBE24CEFEA7DC6863C60857098" xlink:to="lab_ambc_PercentagePremiumsReceivableRelatedToTransactionsWithNonInvestmentGradeInternalRatings_1A58E6CBE24CEFEA7DC6863C60857098" xlink:type="arc" />
    <link:label id="lab_ambc_PercentageOfPremiumsReceivableRelatedToNonInvestmentGradeRmbsTransactions_0B4904DC8BE4D2F15FA8863C6085E067_terseLabel_en-US" xlink:label="lab_ambc_PercentageOfPremiumsReceivableRelatedToNonInvestmentGradeRmbsTransactions_0B4904DC8BE4D2F15FA8863C6085E067" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Non-investment grade RMBS on total premiums receivable</link:label>
    <link:label id="lab_ambc_PercentageOfPremiumsReceivableRelatedToNonInvestmentGradeRmbsTransactions_0B4904DC8BE4D2F15FA8863C6085E067_label_en-US" xlink:label="lab_ambc_PercentageOfPremiumsReceivableRelatedToNonInvestmentGradeRmbsTransactions_0B4904DC8BE4D2F15FA8863C6085E067" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Percentage Of Premiums Receivable Related To Non Investment Grade Rmbs Transactions</link:label>
    <link:label id="lab_ambc_PercentageOfPremiumsReceivableRelatedToNonInvestmentGradeRmbsTransactions_0B4904DC8BE4D2F15FA8863C6085E067_documentation_en-US" xlink:label="lab_ambc_PercentageOfPremiumsReceivableRelatedToNonInvestmentGradeRmbsTransactions_0B4904DC8BE4D2F15FA8863C6085E067" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Percentage of financial guarantee premiums receivable related to RMBS insured transactions with non-investment grade internal ratings.</link:label>
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    <link:label id="lab_ambc_PercentageOfPremiumsReceivableRelatedToNonInvestmentGradeStructuredInsTransactions_91FF02FDA2DDAD0C62FC863C608548A6_terseLabel_en-US" xlink:label="lab_ambc_PercentageOfPremiumsReceivableRelatedToNonInvestmentGradeStructuredInsTransactions_91FF02FDA2DDAD0C62FC863C608548A6" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Percentage Of Premiums Receivable Related To Non Investment Grade Structured Ins Transactions</link:label>
    <link:label id="lab_ambc_PercentageOfPremiumsReceivableRelatedToNonInvestmentGradeStructuredInsTransactions_91FF02FDA2DDAD0C62FC863C608548A6_label_en-US" xlink:label="lab_ambc_PercentageOfPremiumsReceivableRelatedToNonInvestmentGradeStructuredInsTransactions_91FF02FDA2DDAD0C62FC863C608548A6" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Percentage Of Premiums Receivable Related To Non Investment Grade Structured Ins Transactions</link:label>
    <link:label id="lab_ambc_PercentageOfPremiumsReceivableRelatedToNonInvestmentGradeStructuredInsTransactions_91FF02FDA2DDAD0C62FC863C608548A6_documentation_en-US" xlink:label="lab_ambc_PercentageOfPremiumsReceivableRelatedToNonInvestmentGradeStructuredInsTransactions_91FF02FDA2DDAD0C62FC863C608548A6" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Percentage Of Premiums Receivable Related To Non Investment Grade Structured Ins Transactions</link:label>
    <link:loc xlink:href="ambc-20160331.xsd#ambc_PercentageOfPremiumsReceivableRelatedToNonInvestmentGradeStructuredInsTransactions" xlink:label="loc_ambc_PercentageOfPremiumsReceivableRelatedToNonInvestmentGradeStructuredInsTransactions_91FF02FDA2DDAD0C62FC863C608548A6" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ambc_PercentageOfPremiumsReceivableRelatedToNonInvestmentGradeStructuredInsTransactions_91FF02FDA2DDAD0C62FC863C608548A6" xlink:to="lab_ambc_PercentageOfPremiumsReceivableRelatedToNonInvestmentGradeStructuredInsTransactions_91FF02FDA2DDAD0C62FC863C608548A6" xlink:type="arc" />
    <link:label id="lab_ambc_PercentageOfPremiumsReceivableRelatedToStudentLoanTransactions_CE6BF378686C3CFDB490863C608543AF_terseLabel_en-US" xlink:label="lab_ambc_PercentageOfPremiumsReceivableRelatedToStudentLoanTransactions_CE6BF378686C3CFDB490863C608543AF" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Percentage of student loan transactions on total premium receivables</link:label>
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    <link:label id="lab_ambc_PercentageOfPremiumsReceivableRelatedToStudentLoanTransactions_CE6BF378686C3CFDB490863C608543AF_documentation_en-US" xlink:label="lab_ambc_PercentageOfPremiumsReceivableRelatedToStudentLoanTransactions_CE6BF378686C3CFDB490863C608543AF" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Percentage of financial guarantee premiums receivable related to Student Loan insured transactions with non-investment grade internal ratings.</link:label>
    <link:loc xlink:href="ambc-20160331.xsd#ambc_PercentageOfPremiumsReceivableRelatedToStudentLoanTransactions" xlink:label="loc_ambc_PercentageOfPremiumsReceivableRelatedToStudentLoanTransactions_CE6BF378686C3CFDB490863C608543AF" xlink:type="locator" />
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    <link:label id="lab_ambc_PercentagePremiumsReceivableRelatedToAssetBackedTransactions_9BF1C749953C5CDC1A1E863C6085504F_verboseLabel_en-US" xlink:label="lab_ambc_PercentagePremiumsReceivableRelatedToAssetBackedTransactions_9BF1C749953C5CDC1A1E863C6085504F" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Percentage related to asset-backed transaction</link:label>
    <link:label id="lab_ambc_PercentagePremiumsReceivableRelatedToAssetBackedTransactions_9BF1C749953C5CDC1A1E863C6085504F_label_en-US" xlink:label="lab_ambc_PercentagePremiumsReceivableRelatedToAssetBackedTransactions_9BF1C749953C5CDC1A1E863C6085504F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Percentage Premiums Receivable Related To Asset Backed Transactions</link:label>
    <link:label id="lab_ambc_PercentagePremiumsReceivableRelatedToAssetBackedTransactions_9BF1C749953C5CDC1A1E863C6085504F_documentation_en-US" xlink:label="lab_ambc_PercentagePremiumsReceivableRelatedToAssetBackedTransactions_9BF1C749953C5CDC1A1E863C6085504F" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Percentage Premiums Receivable Related To Certain Asset Backed Transactions With Non Investment Grade Internal Rating</link:label>
    <link:loc xlink:href="ambc-20160331.xsd#ambc_PercentagePremiumsReceivableRelatedToAssetBackedTransactions" xlink:label="loc_ambc_PercentagePremiumsReceivableRelatedToAssetBackedTransactions_9BF1C749953C5CDC1A1E863C6085504F" xlink:type="locator" />
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    <link:label id="lab_us-gaap_PremiumsReceivableAllowanceForDoubtfulAccounts_4166F7046A4905E588E4863C6085ADEF_terseLabel_en-US" xlink:label="lab_us-gaap_PremiumsReceivableAllowanceForDoubtfulAccounts_4166F7046A4905E588E4863C6085ADEF" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Uncollectable premium receivables</link:label>
    <link:label id="lab_us-gaap_PremiumsReceivableAllowanceForDoubtfulAccounts_4166F7046A4905E588E4863C6085ADEF_label_en-US" xlink:label="lab_us-gaap_PremiumsReceivableAllowanceForDoubtfulAccounts_4166F7046A4905E588E4863C6085ADEF" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Premiums Receivable, Allowance for Doubtful Accounts</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PremiumsReceivableAllowanceForDoubtfulAccounts" xlink:label="loc_us-gaap_PremiumsReceivableAllowanceForDoubtfulAccounts_4166F7046A4905E588E4863C6085ADEF" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PremiumsReceivableAllowanceForDoubtfulAccounts_4166F7046A4905E588E4863C6085ADEF" xlink:to="lab_us-gaap_PremiumsReceivableAllowanceForDoubtfulAccounts_4166F7046A4905E588E4863C6085ADEF" xlink:type="arc" />
    <link:label id="lab_ambc_PremiumsPastDueOnNonInvestmentGradeObligation_934FC2D165E12C775F65863C6085BF94_verboseLabel_en-US" xlink:label="lab_ambc_PremiumsPastDueOnNonInvestmentGradeObligation_934FC2D165E12C775F65863C6085BF94" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Past due premiums on policies insuring non-investment grade obligations amount</link:label>
    <link:label id="lab_ambc_PremiumsPastDueOnNonInvestmentGradeObligation_934FC2D165E12C775F65863C6085BF94_label_en-US" xlink:label="lab_ambc_PremiumsPastDueOnNonInvestmentGradeObligation_934FC2D165E12C775F65863C6085BF94" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Premiums Past Due On Non Investment Grade Obligation</link:label>
    <link:label id="lab_ambc_PremiumsPastDueOnNonInvestmentGradeObligation_934FC2D165E12C775F65863C6085BF94_documentation_en-US" xlink:label="lab_ambc_PremiumsPastDueOnNonInvestmentGradeObligation_934FC2D165E12C775F65863C6085BF94" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Past due premiums on policies insuring internally rated non-investment grade obligations.</link:label>
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    <link:label id="lab_us-gaap_FinancialGuaranteeInsuranceContractsAcceleratedPremiumRevenueAmount_6CD886271592867604CD863C60858656_verboseLabel_en-US" xlink:label="lab_us-gaap_FinancialGuaranteeInsuranceContractsAcceleratedPremiumRevenueAmount_6CD886271592867604CD863C60858656" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Accelerated premium revenue for retired obligations</link:label>
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    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FinancialGuaranteeInsuranceContractsAcceleratedPremiumRevenueAmount" xlink:label="loc_us-gaap_FinancialGuaranteeInsuranceContractsAcceleratedPremiumRevenueAmount_6CD886271592867604CD863C60858656" xlink:type="locator" />
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    <link:label id="lab_us-gaap_ReinsuranceEffectOnClaimsAndBenefitsIncurredAmountCeded_1B79F3C0D6A62050D0A5863C608501EB_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_ReinsuranceEffectOnClaimsAndBenefitsIncurredAmountCeded_1B79F3C0D6A62050D0A5863C608501EB" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Reinsurance recoveries of losses included in losses and loss expenses</link:label>
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    <link:label id="lab_us-gaap_FinancialGuaranteeInsuranceContractsClaimLiabilityWeightedAverageRiskFreeDiscountRate_E46560EB648E469D9AD0863C6085377B_terseLabel_en-US" xlink:label="lab_us-gaap_FinancialGuaranteeInsuranceContractsClaimLiabilityWeightedAverageRiskFreeDiscountRate_E46560EB648E469D9AD0863C6085377B" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Weighted average risk-free rate used to discount loss reserves</link:label>
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    <link:label id="lab_ambc_LossReservesCededToReinsurers_BAB6E8B81E89D953C54B863C60855E60_verboseLabel_en-US" xlink:label="lab_ambc_LossReservesCededToReinsurers_BAB6E8B81E89D953C54B863C60855E60" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Losses and loss expense reserves ceded to reinsurers</link:label>
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    <link:label id="lab_ambc_BalanceOfGrossRmbsSubrogationRecoveries_D37990BBE81A6CF22235863C60850E81_documentation_en-US" xlink:label="lab_ambc_BalanceOfGrossRmbsSubrogationRecoveries_D37990BBE81A6CF22235863C60850E81" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">This element represents the reduction to gross claim liability for subrogation on insured RMBS financial obligations with credit deterioration.</link:label>
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    <link:label id="lab_ambc_BalanceOfRmbsSubrogationRecoveriesNetOfReinsurance_F6F4A4C79C5B80C667F1863C6085E8DB_terseLabel_en-US" xlink:label="lab_ambc_BalanceOfRmbsSubrogationRecoveriesNetOfReinsurance_F6F4A4C79C5B80C667F1863C6085E8DB" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Subrogation recoveries, net of reinsurance</link:label>
    <link:label id="lab_ambc_BalanceOfRmbsSubrogationRecoveriesNetOfReinsurance_F6F4A4C79C5B80C667F1863C6085E8DB_label_en-US" xlink:label="lab_ambc_BalanceOfRmbsSubrogationRecoveriesNetOfReinsurance_F6F4A4C79C5B80C667F1863C6085E8DB" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Balance Of Rmbs Subrogation Recoveries Net Of Reinsurance</link:label>
    <link:label id="lab_ambc_BalanceOfRmbsSubrogationRecoveriesNetOfReinsurance_F6F4A4C79C5B80C667F1863C6085E8DB_documentation_en-US" xlink:label="lab_ambc_BalanceOfRmbsSubrogationRecoveriesNetOfReinsurance_F6F4A4C79C5B80C667F1863C6085E8DB" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">This element represents the reduction to gross claim liability for subrogation on insured RMBS financial obligations with credit deterioration, net of reinsurance.</link:label>
    <link:loc xlink:href="ambc-20160331.xsd#ambc_BalanceOfRmbsSubrogationRecoveriesNetOfReinsurance" xlink:label="loc_ambc_BalanceOfRmbsSubrogationRecoveriesNetOfReinsurance_F6F4A4C79C5B80C667F1863C6085E8DB" xlink:type="locator" />
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    <link:label id="lab_us-gaap_AmortizationOfIntangibleAssets_2C7FCC4110DB0A3D3D49863C608501CB_positiveLabel_en-US" xlink:label="lab_us-gaap_AmortizationOfIntangibleAssets_2C7FCC4110DB0A3D3D49863C608501CB" xlink:role="http://www.xbrl.org/2003/role/positiveLabel" xlink:type="resource" xml:lang="en-US">Intangible amortization expense</link:label>
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    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AmortizationOfIntangibleAssets" xlink:label="loc_us-gaap_AmortizationOfIntangibleAssets_2C7FCC4110DB0A3D3D49863C608501CB" xlink:type="locator" />
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    <link:label id="lab_us-gaap_IntangibleAssetsNetExcludingGoodwill_8DF4D3485A475982C52A863C60855C1B_terseLabel_en-US" xlink:label="lab_us-gaap_IntangibleAssetsNetExcludingGoodwill_8DF4D3485A475982C52A863C60855C1B" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Insurance intangible asset</link:label>
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    <link:label id="lab_ambc_AccumulatedAmortizationOnIntangibleAsset_8B8E00C8C76160F2745D863C6085D212_terseLabel_en-US" xlink:label="lab_ambc_AccumulatedAmortizationOnIntangibleAsset_8B8E00C8C76160F2745D863C6085D212" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Accumulated amortization on insurance intangible asset</link:label>
    <link:label id="lab_ambc_AccumulatedAmortizationOnIntangibleAsset_8B8E00C8C76160F2745D863C6085D212_label_en-US" xlink:label="lab_ambc_AccumulatedAmortizationOnIntangibleAsset_8B8E00C8C76160F2745D863C6085D212" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Accumulated Amortization On Intangible Asset</link:label>
    <link:label id="lab_ambc_AccumulatedAmortizationOnIntangibleAsset_8B8E00C8C76160F2745D863C6085D212_documentation_en-US" xlink:label="lab_ambc_AccumulatedAmortizationOnIntangibleAsset_8B8E00C8C76160F2745D863C6085D212" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Accumulated Amortization on Intangible Asset</link:label>
    <link:loc xlink:href="ambc-20160331.xsd#ambc_AccumulatedAmortizationOnIntangibleAsset" xlink:label="loc_ambc_AccumulatedAmortizationOnIntangibleAsset_8B8E00C8C76160F2745D863C6085D212" xlink:type="locator" />
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    <link:label id="lab_us-gaap_LettersOfCreditOutstandingAmount_CFDE4B21A994EE15A15D863C608503BB_label_en-US" xlink:label="lab_us-gaap_LettersOfCreditOutstandingAmount_CFDE4B21A994EE15A15D863C608503BB" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Letters of Credit Outstanding, Amount</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LettersOfCreditOutstandingAmount" xlink:label="loc_us-gaap_LettersOfCreditOutstandingAmount_CFDE4B21A994EE15A15D863C608503BB" xlink:type="locator" />
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    <link:label id="lab_ambc_PercentageofPremiumsReceivableRelatedToNonInvestmentGradeLeaseSecuritizations_F392CBBFFDE597234691863C6085EDFA_documentation_en-US" xlink:label="lab_ambc_PercentageofPremiumsReceivableRelatedToNonInvestmentGradeLeaseSecuritizations_F392CBBFFDE597234691863C6085EDFA" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Percentage of Premiums Receivable Related to Non Investment Grade Lease Securitizations</link:label>
    <link:loc xlink:href="ambc-20160331.xsd#ambc_PercentageofPremiumsReceivableRelatedToNonInvestmentGradeLeaseSecuritizations" xlink:label="loc_ambc_PercentageofPremiumsReceivableRelatedToNonInvestmentGradeLeaseSecuritizations_F392CBBFFDE597234691863C6085EDFA" xlink:type="locator" />
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    <link:label id="lab_ambc_PercentageOfPremiumsReceivableRelatedToNonInvestmentGradeStudentLoanTransactions_CB185F3FBC3421F31DB2863C6085623B_terseLabel_en-US" xlink:label="lab_ambc_PercentageOfPremiumsReceivableRelatedToNonInvestmentGradeStudentLoanTransactions_CB185F3FBC3421F31DB2863C6085623B" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Percentage Of Premiums Receivable Related To Non Investment Grade Student Loan Transactions</link:label>
    <link:label id="lab_ambc_PercentageOfPremiumsReceivableRelatedToNonInvestmentGradeStudentLoanTransactions_CB185F3FBC3421F31DB2863C6085623B_label_en-US" xlink:label="lab_ambc_PercentageOfPremiumsReceivableRelatedToNonInvestmentGradeStudentLoanTransactions_CB185F3FBC3421F31DB2863C6085623B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Percentage Of Premiums Receivable Related To Non Investment Grade Student Loan Transactions</link:label>
    <link:label id="lab_ambc_PercentageOfPremiumsReceivableRelatedToNonInvestmentGradeStudentLoanTransactions_CB185F3FBC3421F31DB2863C6085623B_documentation_en-US" xlink:label="lab_ambc_PercentageOfPremiumsReceivableRelatedToNonInvestmentGradeStudentLoanTransactions_CB185F3FBC3421F31DB2863C6085623B" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Percentage of financial guarantee premiums receivable related to Student Loan insured transactions with non-investment grade internal ratings.</link:label>
    <link:loc xlink:href="ambc-20160331.xsd#ambc_PercentageOfPremiumsReceivableRelatedToNonInvestmentGradeStudentLoanTransactions" xlink:label="loc_ambc_PercentageOfPremiumsReceivableRelatedToNonInvestmentGradeStudentLoanTransactions_CB185F3FBC3421F31DB2863C6085623B" xlink:type="locator" />
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    <link:label id="lab_us-gaap_InvestmentsInDebtAndMarketableEquitySecuritiesAndCertainTradingAssetsDisclosureTextBlock_8C06DC05AF6780CB4D98578F4B42B85F_terseLabel_en-US" xlink:label="lab_us-gaap_InvestmentsInDebtAndMarketableEquitySecuritiesAndCertainTradingAssetsDisclosureTextBlock_8C06DC05AF6780CB4D98578F4B42B85F" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Investments</link:label>
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    <link:label id="lab_us-gaap_IncomeTaxDisclosureAbstract_D5F26BEC37D38C22B3AF578F48365BE7_label_en-US" xlink:label="lab_us-gaap_IncomeTaxDisclosureAbstract_D5F26BEC37D38C22B3AF578F48365BE7" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Income Tax Disclosure [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncomeTaxDisclosureAbstract" xlink:label="loc_us-gaap_IncomeTaxDisclosureAbstract_D5F26BEC37D38C22B3AF578F48365BE7" xlink:type="locator" />
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    <link:label id="lab_ambc_EffectofIncomeTaxesLineItems_37A979E81F35C1DDB9E7578F48366FE4_terseLabel_en-US" xlink:label="lab_ambc_EffectofIncomeTaxesLineItems_37A979E81F35C1DDB9E7578F48366FE4" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Pre-tax from continuing operations [Line Items]</link:label>
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    <link:label id="lab_us-gaap_PaymentsForProceedsFromOtherInvestingActivities_A976457FCD977B51FEF0863C60F287EC_negatedLabel_en-US" xlink:label="lab_us-gaap_PaymentsForProceedsFromOtherInvestingActivities_A976457FCD977B51FEF0863C60F287EC" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Other, net</link:label>
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    <link:label id="lab_ambc_ProceedsReceivedfromaSecuredBorrowing_BC185D3BDCD047819314863C60F2B327_negatedTerseLabel_en-US" xlink:label="lab_ambc_ProceedsReceivedfromaSecuredBorrowing_BC185D3BDCD047819314863C60F2B327" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Proceeds from Variable Interest Entity Secured Borrowing</link:label>
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    <link:label id="lab_ambc_SurveillanceCategoryOneSurveyListMember_A0E1035E1B9DE6F3C057578F448E04D4_label_en-US" xlink:label="lab_ambc_SurveillanceCategoryOneSurveyListMember_A0E1035E1B9DE6F3C057578F448E04D4" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Surveillance Category One Survey List [Member]</link:label>
    <link:label id="lab_ambc_SurveillanceCategoryOneSurveyListMember_A0E1035E1B9DE6F3C057578F448E04D4_documentation_en-US" xlink:label="lab_ambc_SurveillanceCategoryOneSurveyListMember_A0E1035E1B9DE6F3C057578F448E04D4" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Surveillance Category One Survey List [Member]</link:label>
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    <link:label id="lab_ambc_SurveillanceCategoryOneaMember_EB8BC13D76BE5EB66762578F448EFB53_label_en-US" xlink:label="lab_ambc_SurveillanceCategoryOneaMember_EB8BC13D76BE5EB66762578F448EFB53" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Surveillance Category Onea [Member]</link:label>
    <link:label id="lab_ambc_SurveillanceCategoryOneaMember_EB8BC13D76BE5EB66762578F448EFB53_documentation_en-US" xlink:label="lab_ambc_SurveillanceCategoryOneaMember_EB8BC13D76BE5EB66762578F448EFB53" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Surveillance Category OneA [Member]</link:label>
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    <link:label id="lab_ambc_SurveillanceCategoryTwoMember_91CD939AB3B697825B0F578F448E7B86_terseLabel_en-US" xlink:label="lab_ambc_SurveillanceCategoryTwoMember_91CD939AB3B697825B0F578F448E7B86" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">II [Member]</link:label>
    <link:label id="lab_ambc_SurveillanceCategoryTwoMember_91CD939AB3B697825B0F578F448E7B86_label_en-US" xlink:label="lab_ambc_SurveillanceCategoryTwoMember_91CD939AB3B697825B0F578F448E7B86" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Surveillance Category Two [Member]</link:label>
    <link:label id="lab_ambc_SurveillanceCategoryTwoMember_91CD939AB3B697825B0F578F448E7B86_documentation_en-US" xlink:label="lab_ambc_SurveillanceCategoryTwoMember_91CD939AB3B697825B0F578F448E7B86" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Surveillance category two.</link:label>
    <link:loc xlink:href="ambc-20160331.xsd#ambc_SurveillanceCategoryTwoMember" xlink:label="loc_ambc_SurveillanceCategoryTwoMember_91CD939AB3B697825B0F578F448E7B86" xlink:type="locator" />
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    <link:label id="lab_ambc_SurveillanceCategoryThreeMember_DFD3FA31696182567911578F448E8BD6_terseLabel_en-US" xlink:label="lab_ambc_SurveillanceCategoryThreeMember_DFD3FA31696182567911578F448E8BD6" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">III [Member]</link:label>
    <link:label id="lab_ambc_SurveillanceCategoryThreeMember_DFD3FA31696182567911578F448E8BD6_label_en-US" xlink:label="lab_ambc_SurveillanceCategoryThreeMember_DFD3FA31696182567911578F448E8BD6" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Surveillance Category Three [Member]</link:label>
    <link:label id="lab_ambc_SurveillanceCategoryThreeMember_DFD3FA31696182567911578F448E8BD6_documentation_en-US" xlink:label="lab_ambc_SurveillanceCategoryThreeMember_DFD3FA31696182567911578F448E8BD6" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Surveillance category three.</link:label>
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    <link:label id="lab_ambc_SurveillanceCategoryFourMember_EAAAA048D700A11BB19D578F448E29AA_terseLabel_en-US" xlink:label="lab_ambc_SurveillanceCategoryFourMember_EAAAA048D700A11BB19D578F448E29AA" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">IV [Member]</link:label>
    <link:label id="lab_ambc_SurveillanceCategoryFourMember_EAAAA048D700A11BB19D578F448E29AA_label_en-US" xlink:label="lab_ambc_SurveillanceCategoryFourMember_EAAAA048D700A11BB19D578F448E29AA" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Surveillance Category Four [Member]</link:label>
    <link:label id="lab_ambc_SurveillanceCategoryFourMember_EAAAA048D700A11BB19D578F448E29AA_documentation_en-US" xlink:label="lab_ambc_SurveillanceCategoryFourMember_EAAAA048D700A11BB19D578F448E29AA" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Surveillance category four.</link:label>
    <link:loc xlink:href="ambc-20160331.xsd#ambc_SurveillanceCategoryFourMember" xlink:label="loc_ambc_SurveillanceCategoryFourMember_EAAAA048D700A11BB19D578F448E29AA" xlink:type="locator" />
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    <link:label id="lab_ambc_SurveillanceCategoryFiveMember_F83C1E9B8CC512892C84578F448E7BF7_terseLabel_en-US" xlink:label="lab_ambc_SurveillanceCategoryFiveMember_F83C1E9B8CC512892C84578F448E7BF7" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">V [Member]</link:label>
    <link:label id="lab_ambc_SurveillanceCategoryFiveMember_F83C1E9B8CC512892C84578F448E7BF7_label_en-US" xlink:label="lab_ambc_SurveillanceCategoryFiveMember_F83C1E9B8CC512892C84578F448E7BF7" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Surveillance Category Five [Member]</link:label>
    <link:label id="lab_ambc_SurveillanceCategoryFiveMember_F83C1E9B8CC512892C84578F448E7BF7_documentation_en-US" xlink:label="lab_ambc_SurveillanceCategoryFiveMember_F83C1E9B8CC512892C84578F448E7BF7" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Surveillance category five.</link:label>
    <link:loc xlink:href="ambc-20160331.xsd#ambc_SurveillanceCategoryFiveMember" xlink:label="loc_ambc_SurveillanceCategoryFiveMember_F83C1E9B8CC512892C84578F448E7BF7" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ambc_SurveillanceCategoryFiveMember_F83C1E9B8CC512892C84578F448E7BF7" xlink:to="lab_ambc_SurveillanceCategoryFiveMember_F83C1E9B8CC512892C84578F448E7BF7" xlink:type="arc" />
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    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationLineItems" xlink:label="loc_us-gaap_ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationLineItems_7700B17F7AC378D92385578F448E193E" xlink:type="locator" />
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    <link:label id="lab_us-gaap_ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationNumberOfContractsIssuedAndOutstanding_894F8F6CCE41C2C4E68B578F448E7D55_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationNumberOfContractsIssuedAndOutstanding_894F8F6CCE41C2C4E68B578F448E7D55" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of policies</link:label>
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    <link:label id="lab_us-gaap_ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationInsuredContractualPaymentsOutstandingAbstract_12565FBB4BF8AA39C9ED578F448E8BC8_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationInsuredContractualPaymentsOutstandingAbstract_12565FBB4BF8AA39C9ED578F448E8BC8" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Gross insured contractual payments outstanding:</link:label>
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    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationInsuredContractualPaymentsOutstandingInterest" xlink:label="loc_us-gaap_ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationInsuredContractualPaymentsOutstandingInterest_6E9BC8011DC6CBBDF431578F448E6BE8" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationInsuredContractualPaymentsOutstandingInterest_6E9BC8011DC6CBBDF431578F448E6BE8" xlink:to="lab_us-gaap_ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationInsuredContractualPaymentsOutstandingInterest_6E9BC8011DC6CBBDF431578F448E6BE8" xlink:type="arc" />
    <link:label id="lab_us-gaap_ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationInsuredContractualPaymentsOutstanding_6E646DB5CF8B703ED5E7578F448E2940_totalLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationInsuredContractualPaymentsOutstanding_6E646DB5CF8B703ED5E7578F448E2940" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total</link:label>
    <link:label id="lab_us-gaap_ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationInsuredContractualPaymentsOutstanding_6E646DB5CF8B703ED5E7578F448E2940_label_en-US" xlink:label="lab_us-gaap_ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationInsuredContractualPaymentsOutstanding_6E646DB5CF8B703ED5E7578F448E2940" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule of Insured Financial Obligations with Credit Deterioration, Insured Contractual Payments Outstanding</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationInsuredContractualPaymentsOutstanding" xlink:label="loc_us-gaap_ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationInsuredContractualPaymentsOutstanding_6E646DB5CF8B703ED5E7578F448E2940" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationInsuredContractualPaymentsOutstanding_6E646DB5CF8B703ED5E7578F448E2940" xlink:to="lab_us-gaap_ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationInsuredContractualPaymentsOutstanding_6E646DB5CF8B703ED5E7578F448E2940" xlink:type="arc" />
    <link:label id="lab_ambc_ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationGrossUndiscountedClaimLiability_A6ACCCBC1E244B8129B8578F448E6FE5_negatedTerseLabel_en-US" xlink:label="lab_ambc_ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationGrossUndiscountedClaimLiability_A6ACCCBC1E244B8129B8578F448E6FE5" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Gross undiscounted claim liability</link:label>
    <link:label id="lab_ambc_ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationGrossUndiscountedClaimLiability_A6ACCCBC1E244B8129B8578F448E6FE5_label_en-US" xlink:label="lab_ambc_ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationGrossUndiscountedClaimLiability_A6ACCCBC1E244B8129B8578F448E6FE5" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule Of Insured Financial Obligations With Credit Deterioration Gross Undiscounted Claim Liability</link:label>
    <link:label id="lab_ambc_ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationGrossUndiscountedClaimLiability_A6ACCCBC1E244B8129B8578F448E6FE5_documentation_en-US" xlink:label="lab_ambc_ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationGrossUndiscountedClaimLiability_A6ACCCBC1E244B8129B8578F448E6FE5" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">This element represents the gross undiscounted claim liability for financial guarantee insurance contracts presented in the context of each surveillance grouping or category used by management to monitor and track potential deterioration in the credit worthiness of the insured party's ability to meet its financial obligations related to the contracts underlying financial guarantee insurance contracts the entity has issued.</link:label>
    <link:loc xlink:href="ambc-20160331.xsd#ambc_ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationGrossUndiscountedClaimLiability" xlink:label="loc_ambc_ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationGrossUndiscountedClaimLiability_A6ACCCBC1E244B8129B8578F448E6FE5" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ambc_ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationGrossUndiscountedClaimLiability_A6ACCCBC1E244B8129B8578F448E6FE5" xlink:to="lab_ambc_ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationGrossUndiscountedClaimLiability_A6ACCCBC1E244B8129B8578F448E6FE5" xlink:type="arc" />
    <link:label id="lab_ambc_ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationDiscountOnGrossClaimLiability_712A072132FBDD5C79BF578F448E5892_negatedLabel_en-US" xlink:label="lab_ambc_ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationDiscountOnGrossClaimLiability_712A072132FBDD5C79BF578F448E5892" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Discount, gross claim liability</link:label>
    <link:label id="lab_ambc_ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationDiscountOnGrossClaimLiability_712A072132FBDD5C79BF578F448E5892_label_en-US" xlink:label="lab_ambc_ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationDiscountOnGrossClaimLiability_712A072132FBDD5C79BF578F448E5892" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule Of Insured Financial Obligations With Credit Deterioration Discount On Gross Claim Liability</link:label>
    <link:label id="lab_ambc_ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationDiscountOnGrossClaimLiability_712A072132FBDD5C79BF578F448E5892_documentation_en-US" xlink:label="lab_ambc_ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationDiscountOnGrossClaimLiability_712A072132FBDD5C79BF578F448E5892" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">This element represents the discounting on the gross claim liability for financial guarantee insurance contracts presented in the context of each surveillance grouping or category used by management to monitor and track potential deterioration in the credit worthiness of the insured party's ability to meet its financial obligations related to the contracts underlying financial guarantee insurance contracts the entity has issued.</link:label>
    <link:loc xlink:href="ambc-20160331.xsd#ambc_ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationDiscountOnGrossClaimLiability" xlink:label="loc_ambc_ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationDiscountOnGrossClaimLiability_712A072132FBDD5C79BF578F448E5892" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ambc_ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationDiscountOnGrossClaimLiability_712A072132FBDD5C79BF578F448E5892" xlink:to="lab_ambc_ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationDiscountOnGrossClaimLiability_712A072132FBDD5C79BF578F448E5892" xlink:type="arc" />
    <link:label id="lab_us-gaap_ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationGrossClaimLiability_37A46D1D5C72273C9691578F449DD731_negatedTotalLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationGrossClaimLiability_37A46D1D5C72273C9691578F449DD731" xlink:role="http://www.xbrl.org/2009/role/negatedTotalLabel" xlink:type="resource" xml:lang="en-US">Gross claim liability before all subrogation and before reinsurance</link:label>
    <link:label id="lab_us-gaap_ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationGrossClaimLiability_37A46D1D5C72273C9691578F449DD731_label_en-US" xlink:label="lab_us-gaap_ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationGrossClaimLiability_37A46D1D5C72273C9691578F449DD731" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule of Insured Financial Obligations with Credit Deterioration, Gross Claim Liability</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationGrossClaimLiability" xlink:label="loc_us-gaap_ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationGrossClaimLiability_37A46D1D5C72273C9691578F449DD731" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationGrossClaimLiability_37A46D1D5C72273C9691578F449DD731" xlink:to="lab_us-gaap_ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationGrossClaimLiability_37A46D1D5C72273C9691578F449DD731" xlink:type="arc" />
    <link:label id="lab_ambc_LessDiscountedRmbsSubrogationBeforeReinsuranceAbstract_3969F1907A7952E39786578F449D85D9_terseLabel_en-US" xlink:label="lab_ambc_LessDiscountedRmbsSubrogationBeforeReinsuranceAbstract_3969F1907A7952E39786578F449D85D9" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Less:</link:label>
    <link:label id="lab_ambc_LessDiscountedRmbsSubrogationBeforeReinsuranceAbstract_3969F1907A7952E39786578F449D85D9_label_en-US" xlink:label="lab_ambc_LessDiscountedRmbsSubrogationBeforeReinsuranceAbstract_3969F1907A7952E39786578F449D85D9" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Less Discounted Rmbs Subrogation Before Reinsurance [Abstract]</link:label>
    <link:label id="lab_ambc_LessDiscountedRmbsSubrogationBeforeReinsuranceAbstract_3969F1907A7952E39786578F449D85D9_documentation_en-US" xlink:label="lab_ambc_LessDiscountedRmbsSubrogationBeforeReinsuranceAbstract_3969F1907A7952E39786578F449D85D9" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Less Discounted Rmbs Subrogation Before Reinsurance [Abstract]</link:label>
    <link:loc xlink:href="ambc-20160331.xsd#ambc_LessDiscountedRmbsSubrogationBeforeReinsuranceAbstract" xlink:label="loc_ambc_LessDiscountedRmbsSubrogationBeforeReinsuranceAbstract_3969F1907A7952E39786578F449D85D9" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ambc_LessDiscountedRmbsSubrogationBeforeReinsuranceAbstract_3969F1907A7952E39786578F449D85D9" xlink:to="lab_ambc_LessDiscountedRmbsSubrogationBeforeReinsuranceAbstract_3969F1907A7952E39786578F449D85D9" xlink:type="arc" />
    <link:label id="lab_ambc_ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationReductionsOfGrossUndiscountedClaimLiabilityGrossUndiscountedRmbsSubrogation_BFC4E8377359A4CA6CC6578F449D430B_negatedTerseLabel_en-US" xlink:label="lab_ambc_ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationReductionsOfGrossUndiscountedClaimLiabilityGrossUndiscountedRmbsSubrogation_BFC4E8377359A4CA6CC6578F449D430B" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Gross RMBS subrogation</link:label>
    <link:label id="lab_ambc_ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationReductionsOfGrossUndiscountedClaimLiabilityGrossUndiscountedRmbsSubrogation_BFC4E8377359A4CA6CC6578F449D430B_label_en-US" xlink:label="lab_ambc_ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationReductionsOfGrossUndiscountedClaimLiabilityGrossUndiscountedRmbsSubrogation_BFC4E8377359A4CA6CC6578F449D430B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule Of Insured Financial Obligations With Credit Deterioration Reductions Of Gross Undiscounted Claim Liability Gross Undiscounted Rmbs Subrogation</link:label>
    <link:label id="lab_ambc_ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationReductionsOfGrossUndiscountedClaimLiabilityGrossUndiscountedRmbsSubrogation_BFC4E8377359A4CA6CC6578F449D430B_documentation_en-US" xlink:label="lab_ambc_ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationReductionsOfGrossUndiscountedClaimLiabilityGrossUndiscountedRmbsSubrogation_BFC4E8377359A4CA6CC6578F449D430B" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">This element represents the reduction to gross undiscounted claim liability for gross undiscounted subrogation on insured RMBS financial obligations with credit deterioration.</link:label>
    <link:loc xlink:href="ambc-20160331.xsd#ambc_ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationReductionsOfGrossUndiscountedClaimLiabilityGrossUndiscountedRmbsSubrogation" xlink:label="loc_ambc_ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationReductionsOfGrossUndiscountedClaimLiabilityGrossUndiscountedRmbsSubrogation_BFC4E8377359A4CA6CC6578F449D430B" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ambc_ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationReductionsOfGrossUndiscountedClaimLiabilityGrossUndiscountedRmbsSubrogation_BFC4E8377359A4CA6CC6578F449D430B" xlink:to="lab_ambc_ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationReductionsOfGrossUndiscountedClaimLiabilityGrossUndiscountedRmbsSubrogation_BFC4E8377359A4CA6CC6578F449D430B" xlink:type="arc" />
    <link:label id="lab_ambc_ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationReductionsOfGrossClaimLiabilityDiscountOnRmbsSubrogation_E946F7FF1D85920869F3578F449DF9FE_terseLabel_en-US" xlink:label="lab_ambc_ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationReductionsOfGrossClaimLiabilityDiscountOnRmbsSubrogation_E946F7FF1D85920869F3578F449DF9FE" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Discount, RMBS subrogation</link:label>
    <link:label id="lab_ambc_ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationReductionsOfGrossClaimLiabilityDiscountOnRmbsSubrogation_E946F7FF1D85920869F3578F449DF9FE_label_en-US" xlink:label="lab_ambc_ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationReductionsOfGrossClaimLiabilityDiscountOnRmbsSubrogation_E946F7FF1D85920869F3578F449DF9FE" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule Of Insured Financial Obligations With Credit Deterioration Reductions Of Gross Claim Liability Discount On Rmbs Subrogation</link:label>
    <link:label id="lab_ambc_ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationReductionsOfGrossClaimLiabilityDiscountOnRmbsSubrogation_E946F7FF1D85920869F3578F449DF9FE_documentation_en-US" xlink:label="lab_ambc_ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationReductionsOfGrossClaimLiabilityDiscountOnRmbsSubrogation_E946F7FF1D85920869F3578F449DF9FE" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">This element represents the discounting on the reduction to gross claim liability for subrogation on insured RMBS financial obligations with credit deterioration.</link:label>
    <link:loc xlink:href="ambc-20160331.xsd#ambc_ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationReductionsOfGrossClaimLiabilityDiscountOnRmbsSubrogation" xlink:label="loc_ambc_ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationReductionsOfGrossClaimLiabilityDiscountOnRmbsSubrogation_E946F7FF1D85920869F3578F449DF9FE" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ambc_ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationReductionsOfGrossClaimLiabilityDiscountOnRmbsSubrogation_E946F7FF1D85920869F3578F449DF9FE" xlink:to="lab_ambc_ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationReductionsOfGrossClaimLiabilityDiscountOnRmbsSubrogation_E946F7FF1D85920869F3578F449DF9FE" xlink:type="arc" />
    <link:label id="lab_ambc_ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationReductionsOfGrossClaimLiabilityRmbsSubrogation_A02103C6B1D127ED0574578F449DE628_negatedTotalLabel_en-US" xlink:label="lab_ambc_ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationReductionsOfGrossClaimLiabilityRmbsSubrogation_A02103C6B1D127ED0574578F449DE628" xlink:role="http://www.xbrl.org/2009/role/negatedTotalLabel" xlink:type="resource" xml:lang="en-US">Discounted RMBS subrogation, before reinsurance</link:label>
    <link:label id="lab_ambc_ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationReductionsOfGrossClaimLiabilityRmbsSubrogation_A02103C6B1D127ED0574578F449DE628_label_en-US" xlink:label="lab_ambc_ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationReductionsOfGrossClaimLiabilityRmbsSubrogation_A02103C6B1D127ED0574578F449DE628" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule Of Insured Financial Obligations With Credit Deterioration Reductions Of Gross Claim Liability Rmbs Subrogation</link:label>
    <link:label id="lab_ambc_ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationReductionsOfGrossClaimLiabilityRmbsSubrogation_A02103C6B1D127ED0574578F449DE628_documentation_en-US" xlink:label="lab_ambc_ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationReductionsOfGrossClaimLiabilityRmbsSubrogation_A02103C6B1D127ED0574578F449DE628" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">This element represents the reduction to gross claim liability for subrogation on insured RMBS financial obligations with credit deterioration.</link:label>
    <link:loc xlink:href="ambc-20160331.xsd#ambc_ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationReductionsOfGrossClaimLiabilityRmbsSubrogation" xlink:label="loc_ambc_ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationReductionsOfGrossClaimLiabilityRmbsSubrogation_A02103C6B1D127ED0574578F449DE628" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ambc_ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationReductionsOfGrossClaimLiabilityRmbsSubrogation_A02103C6B1D127ED0574578F449DE628" xlink:to="lab_ambc_ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationReductionsOfGrossClaimLiabilityRmbsSubrogation_A02103C6B1D127ED0574578F449DE628" xlink:type="arc" />
    <link:label id="lab_ambc_DiscountedOtherSubrogationBeforeReinsuranceAbstract_2E179732FE2EFB16334A578F449D571D_terseLabel_en-US" xlink:label="lab_ambc_DiscountedOtherSubrogationBeforeReinsuranceAbstract_2E179732FE2EFB16334A578F449D571D" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Less:</link:label>
    <link:label id="lab_ambc_DiscountedOtherSubrogationBeforeReinsuranceAbstract_2E179732FE2EFB16334A578F449D571D_label_en-US" xlink:label="lab_ambc_DiscountedOtherSubrogationBeforeReinsuranceAbstract_2E179732FE2EFB16334A578F449D571D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Discounted Other Subrogation Before Reinsurance [Abstract]</link:label>
    <link:label id="lab_ambc_DiscountedOtherSubrogationBeforeReinsuranceAbstract_2E179732FE2EFB16334A578F449D571D_documentation_en-US" xlink:label="lab_ambc_DiscountedOtherSubrogationBeforeReinsuranceAbstract_2E179732FE2EFB16334A578F449D571D" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Discounted other subrogation, before reinsurance.</link:label>
    <link:loc xlink:href="ambc-20160331.xsd#ambc_DiscountedOtherSubrogationBeforeReinsuranceAbstract" xlink:label="loc_ambc_DiscountedOtherSubrogationBeforeReinsuranceAbstract_2E179732FE2EFB16334A578F449D571D" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ambc_DiscountedOtherSubrogationBeforeReinsuranceAbstract_2E179732FE2EFB16334A578F449D571D" xlink:to="lab_ambc_DiscountedOtherSubrogationBeforeReinsuranceAbstract_2E179732FE2EFB16334A578F449D571D" xlink:type="arc" />
    <link:label id="lab_ambc_ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationReductionsOfGrossUndiscountedClaimLiabilityGrossUndiscountedOtherSubrogation_F8D90FB186E192046EE5578F449DC18F_negatedTerseLabel_en-US" xlink:label="lab_ambc_ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationReductionsOfGrossUndiscountedClaimLiabilityGrossUndiscountedOtherSubrogation_F8D90FB186E192046EE5578F449DC18F" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Gross other subrogation</link:label>
    <link:label id="lab_ambc_ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationReductionsOfGrossUndiscountedClaimLiabilityGrossUndiscountedOtherSubrogation_F8D90FB186E192046EE5578F449DC18F_label_en-US" xlink:label="lab_ambc_ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationReductionsOfGrossUndiscountedClaimLiabilityGrossUndiscountedOtherSubrogation_F8D90FB186E192046EE5578F449DC18F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule Of Insured Financial Obligations With Credit Deterioration Reductions Of Gross Undiscounted Claim Liability Gross Undiscounted Other Subrogation</link:label>
    <link:label id="lab_ambc_ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationReductionsOfGrossUndiscountedClaimLiabilityGrossUndiscountedOtherSubrogation_F8D90FB186E192046EE5578F449DC18F_documentation_en-US" xlink:label="lab_ambc_ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationReductionsOfGrossUndiscountedClaimLiabilityGrossUndiscountedOtherSubrogation_F8D90FB186E192046EE5578F449DC18F" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">This element represents the reduction to gross undiscounted claim liability for gross undiscounted subrogation on insured financial obligations with credit deterioration, excluding subrogation on insured RMBS financial obligations with credit deterioration.</link:label>
    <link:loc xlink:href="ambc-20160331.xsd#ambc_ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationReductionsOfGrossUndiscountedClaimLiabilityGrossUndiscountedOtherSubrogation" xlink:label="loc_ambc_ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationReductionsOfGrossUndiscountedClaimLiabilityGrossUndiscountedOtherSubrogation_F8D90FB186E192046EE5578F449DC18F" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ambc_ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationReductionsOfGrossUndiscountedClaimLiabilityGrossUndiscountedOtherSubrogation_F8D90FB186E192046EE5578F449DC18F" xlink:to="lab_ambc_ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationReductionsOfGrossUndiscountedClaimLiabilityGrossUndiscountedOtherSubrogation_F8D90FB186E192046EE5578F449DC18F" xlink:type="arc" />
    <link:label id="lab_ambc_ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationReductionsOfGrossClaimLiabilityDiscountOnOtherSubrogation_8B822BCEE5D5EFF34038578F449DC4B1_terseLabel_en-US" xlink:label="lab_ambc_ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationReductionsOfGrossClaimLiabilityDiscountOnOtherSubrogation_8B822BCEE5D5EFF34038578F449DC4B1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Discount, other subrogation</link:label>
    <link:label id="lab_ambc_ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationReductionsOfGrossClaimLiabilityDiscountOnOtherSubrogation_8B822BCEE5D5EFF34038578F449DC4B1_label_en-US" xlink:label="lab_ambc_ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationReductionsOfGrossClaimLiabilityDiscountOnOtherSubrogation_8B822BCEE5D5EFF34038578F449DC4B1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule Of Insured Financial Obligations With Credit Deterioration Reductions Of Gross Claim Liability Discount On Other Subrogation</link:label>
    <link:label id="lab_ambc_ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationReductionsOfGrossClaimLiabilityDiscountOnOtherSubrogation_8B822BCEE5D5EFF34038578F449DC4B1_documentation_en-US" xlink:label="lab_ambc_ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationReductionsOfGrossClaimLiabilityDiscountOnOtherSubrogation_8B822BCEE5D5EFF34038578F449DC4B1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">This element represents the discount on the gross subrogation on insured financial obligations with credit deterioration, excluding the discount on the gross subrogation on insured RMBS financial obligations with credit deterioration.</link:label>
    <link:loc xlink:href="ambc-20160331.xsd#ambc_ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationReductionsOfGrossClaimLiabilityDiscountOnOtherSubrogation" xlink:label="loc_ambc_ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationReductionsOfGrossClaimLiabilityDiscountOnOtherSubrogation_8B822BCEE5D5EFF34038578F449DC4B1" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ambc_ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationReductionsOfGrossClaimLiabilityDiscountOnOtherSubrogation_8B822BCEE5D5EFF34038578F449DC4B1" xlink:to="lab_ambc_ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationReductionsOfGrossClaimLiabilityDiscountOnOtherSubrogation_8B822BCEE5D5EFF34038578F449DC4B1" xlink:type="arc" />
    <link:label id="lab_ambc_ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationReductionsOfGrossClaimLiabilityOtherSubrogation_EB7EE2DB68B6E1D570F7578F449D9733_negatedTotalLabel_en-US" xlink:label="lab_ambc_ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationReductionsOfGrossClaimLiabilityOtherSubrogation_EB7EE2DB68B6E1D570F7578F449D9733" xlink:role="http://www.xbrl.org/2009/role/negatedTotalLabel" xlink:type="resource" xml:lang="en-US">Discounted other subrogation, before reinsurance</link:label>
    <link:label id="lab_ambc_ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationReductionsOfGrossClaimLiabilityOtherSubrogation_EB7EE2DB68B6E1D570F7578F449D9733_label_en-US" xlink:label="lab_ambc_ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationReductionsOfGrossClaimLiabilityOtherSubrogation_EB7EE2DB68B6E1D570F7578F449D9733" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule Of Insured Financial Obligations With Credit Deterioration Reductions Of Gross Claim Liability Other Subrogation</link:label>
    <link:label id="lab_ambc_ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationReductionsOfGrossClaimLiabilityOtherSubrogation_EB7EE2DB68B6E1D570F7578F449D9733_documentation_en-US" xlink:label="lab_ambc_ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationReductionsOfGrossClaimLiabilityOtherSubrogation_EB7EE2DB68B6E1D570F7578F449D9733" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">This element represents the reduction to gross claim liability for subrogation on insured financial obligations with credit deterioration, excluding the reduction to gross claim liability for subrogation on insured RMBS financial obligations with credit deterioration.</link:label>
    <link:loc xlink:href="ambc-20160331.xsd#ambc_ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationReductionsOfGrossClaimLiabilityOtherSubrogation" xlink:label="loc_ambc_ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationReductionsOfGrossClaimLiabilityOtherSubrogation_EB7EE2DB68B6E1D570F7578F449D9733" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ambc_ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationReductionsOfGrossClaimLiabilityOtherSubrogation_EB7EE2DB68B6E1D570F7578F449D9733" xlink:to="lab_ambc_ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationReductionsOfGrossClaimLiabilityOtherSubrogation_EB7EE2DB68B6E1D570F7578F449D9733" xlink:type="arc" />
    <link:label id="lab_us-gaap_ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationNetClaimLiability_C7C40DF3DD08B85DEC5B578F449D11CA_negatedTotalLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationNetClaimLiability_C7C40DF3DD08B85DEC5B578F449D11CA" xlink:role="http://www.xbrl.org/2009/role/negatedTotalLabel" xlink:type="resource" xml:lang="en-US">Gross claim liability, net of all subrogation and discounts, before reinsurance</link:label>
    <link:label id="lab_us-gaap_ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationNetClaimLiability_C7C40DF3DD08B85DEC5B578F449D11CA_label_en-US" xlink:label="lab_us-gaap_ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationNetClaimLiability_C7C40DF3DD08B85DEC5B578F449D11CA" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule of Insured Financial Obligations with Credit Deterioration, Net Claim Liability</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationNetClaimLiability" xlink:label="loc_us-gaap_ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationNetClaimLiability_C7C40DF3DD08B85DEC5B578F449D11CA" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationNetClaimLiability_C7C40DF3DD08B85DEC5B578F449D11CA" xlink:to="lab_us-gaap_ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationNetClaimLiability_C7C40DF3DD08B85DEC5B578F449D11CA" xlink:type="arc" />
    <link:label id="lab_us-gaap_ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationStatementOfFinancialPositionUnearnedPremiumRevenue_999781127806768EFA42578F449D4BB2_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationStatementOfFinancialPositionUnearnedPremiumRevenue_999781127806768EFA42578F449D4BB2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Less: Unearned premium reserves</link:label>
    <link:label id="lab_us-gaap_ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationStatementOfFinancialPositionUnearnedPremiumRevenue_999781127806768EFA42578F449D4BB2_label_en-US" xlink:label="lab_us-gaap_ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationStatementOfFinancialPositionUnearnedPremiumRevenue_999781127806768EFA42578F449D4BB2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule of Insured Financial Obligations with Credit Deterioration, Statement of Financial Position, Unearned Premium Revenue</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationStatementOfFinancialPositionUnearnedPremiumRevenue" xlink:label="loc_us-gaap_ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationStatementOfFinancialPositionUnearnedPremiumRevenue_999781127806768EFA42578F449D4BB2" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationStatementOfFinancialPositionUnearnedPremiumRevenue_999781127806768EFA42578F449D4BB2" xlink:to="lab_us-gaap_ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationStatementOfFinancialPositionUnearnedPremiumRevenue_999781127806768EFA42578F449D4BB2" xlink:type="arc" />
    <link:label id="lab_ambc_ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationLossAdjustmentExpensesReserve_E862C6AEBC9C50CA2382578F449D7925_terseLabel_en-US" xlink:label="lab_ambc_ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationLossAdjustmentExpensesReserve_E862C6AEBC9C50CA2382578F449D7925" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Plus: Loss adjustment expenses reserves</link:label>
    <link:label id="lab_ambc_ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationLossAdjustmentExpensesReserve_E862C6AEBC9C50CA2382578F449D7925_label_en-US" xlink:label="lab_ambc_ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationLossAdjustmentExpensesReserve_E862C6AEBC9C50CA2382578F449D7925" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule Of Insured Financial Obligations With Credit Deterioration Loss Adjustment Expenses Reserve</link:label>
    <link:label id="lab_ambc_ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationLossAdjustmentExpensesReserve_E862C6AEBC9C50CA2382578F449D7925_documentation_en-US" xlink:label="lab_ambc_ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationLossAdjustmentExpensesReserve_E862C6AEBC9C50CA2382578F449D7925" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">This element represents the amount of loss adjustment expense reserves represent the costs estimated to be incurred in the settlement of unpaid claims related to financial guarantee insurance contracts and presented in the schedule of insured financial obligations with credit deterioration in the context of each surveillance grouping or category used by management to monitor and track potential deterioration in the credit worthiness of the insured party's ability to meet its financial obligations related to the contracts underlying financial guarantee insurance contracts the entity has issued.</link:label>
    <link:loc xlink:href="ambc-20160331.xsd#ambc_ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationLossAdjustmentExpensesReserve" xlink:label="loc_ambc_ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationLossAdjustmentExpensesReserve_E862C6AEBC9C50CA2382578F449D7925" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ambc_ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationLossAdjustmentExpensesReserve_E862C6AEBC9C50CA2382578F449D7925" xlink:to="lab_ambc_ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationLossAdjustmentExpensesReserve_E862C6AEBC9C50CA2382578F449D7925" xlink:type="arc" />
    <link:label id="lab_us-gaap_ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationStatementOfFinancialPositionClaimLiability_3AF9863D00594863B272578F449DD2EE_totalLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationStatementOfFinancialPositionClaimLiability_3AF9863D00594863B272578F449DD2EE" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Claim liability reported on Balance Sheet, before reinsurance</link:label>
    <link:label id="lab_us-gaap_ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationStatementOfFinancialPositionClaimLiability_3AF9863D00594863B272578F449DD2EE_label_en-US" xlink:label="lab_us-gaap_ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationStatementOfFinancialPositionClaimLiability_3AF9863D00594863B272578F449DD2EE" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule of Insured Financial Obligations with Credit Deterioration, Statement of Financial Position, Claim Liability</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationStatementOfFinancialPositionClaimLiability" xlink:label="loc_us-gaap_ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationStatementOfFinancialPositionClaimLiability_3AF9863D00594863B272578F449DD2EE" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationStatementOfFinancialPositionClaimLiability_3AF9863D00594863B272578F449DD2EE" xlink:to="lab_us-gaap_ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationStatementOfFinancialPositionClaimLiability_3AF9863D00594863B272578F449DD2EE" xlink:type="arc" />
    <link:label id="lab_us-gaap_ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationStatementOfFinancialPositionReinsuranceRecoverable_D413735BB395B01706A9578F449D8C4F_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationStatementOfFinancialPositionReinsuranceRecoverable_D413735BB395B01706A9578F449D8C4F" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Reinsurance recoverable reported on Balance Sheet</link:label>
    <link:label id="lab_us-gaap_ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationStatementOfFinancialPositionReinsuranceRecoverable_D413735BB395B01706A9578F449D8C4F_label_en-US" xlink:label="lab_us-gaap_ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationStatementOfFinancialPositionReinsuranceRecoverable_D413735BB395B01706A9578F449D8C4F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule of Insured Financial Obligations with Credit Deterioration, Statement of Financial Position, Reinsurance Recoverable</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationStatementOfFinancialPositionReinsuranceRecoverable" xlink:label="loc_us-gaap_ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationStatementOfFinancialPositionReinsuranceRecoverable_D413735BB395B01706A9578F449D8C4F" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationStatementOfFinancialPositionReinsuranceRecoverable_D413735BB395B01706A9578F449D8C4F" xlink:to="lab_us-gaap_ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationStatementOfFinancialPositionReinsuranceRecoverable_D413735BB395B01706A9578F449D8C4F" xlink:type="arc" />
    <link:label id="lab_ambc_ReconciliationofUnrecognizedTaxBenefitsTable_524061A31055980E5673578F48C28156_terseLabel_en-US" xlink:label="lab_ambc_ReconciliationofUnrecognizedTaxBenefitsTable_524061A31055980E5673578F48C28156" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Reconciliation of Unrecognized Tax Benefits [Table]</link:label>
    <link:label id="lab_ambc_ReconciliationofUnrecognizedTaxBenefitsTable_524061A31055980E5673578F48C28156_label_en-US" xlink:label="lab_ambc_ReconciliationofUnrecognizedTaxBenefitsTable_524061A31055980E5673578F48C28156" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Reconciliation of Unrecognized Tax Benefits [Table]</link:label>
    <link:label id="lab_ambc_ReconciliationofUnrecognizedTaxBenefitsTable_524061A31055980E5673578F48C28156_documentation_en-US" xlink:label="lab_ambc_ReconciliationofUnrecognizedTaxBenefitsTable_524061A31055980E5673578F48C28156" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Reconciliation of Unrecognized Tax Benefits [Table]</link:label>
    <link:loc xlink:href="ambc-20160331.xsd#ambc_ReconciliationofUnrecognizedTaxBenefitsTable" xlink:label="loc_ambc_ReconciliationofUnrecognizedTaxBenefitsTable_524061A31055980E5673578F48C28156" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ambc_ReconciliationofUnrecognizedTaxBenefitsTable_524061A31055980E5673578F48C28156" xlink:to="lab_ambc_ReconciliationofUnrecognizedTaxBenefitsTable_524061A31055980E5673578F48C28156" xlink:type="arc" />
    <link:label id="lab_ambc_ReconciliationofUnrecognizedTaxBenefitsLineItems_2B9239236F193A0A87C1578F48C232E8_terseLabel_en-US" xlink:label="lab_ambc_ReconciliationofUnrecognizedTaxBenefitsLineItems_2B9239236F193A0A87C1578F48C232E8" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Reconciliation of Unrecognized Tax Benefits [Line Items]</link:label>
    <link:label id="lab_ambc_ReconciliationofUnrecognizedTaxBenefitsLineItems_2B9239236F193A0A87C1578F48C232E8_label_en-US" xlink:label="lab_ambc_ReconciliationofUnrecognizedTaxBenefitsLineItems_2B9239236F193A0A87C1578F48C232E8" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Reconciliation of Unrecognized Tax Benefits [Line Items]</link:label>
    <link:label id="lab_ambc_ReconciliationofUnrecognizedTaxBenefitsLineItems_2B9239236F193A0A87C1578F48C232E8_documentation_en-US" xlink:label="lab_ambc_ReconciliationofUnrecognizedTaxBenefitsLineItems_2B9239236F193A0A87C1578F48C232E8" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">[Line Items] for Reconciliation of Unrecognized Tax Benefits [Table]</link:label>
    <link:loc xlink:href="ambc-20160331.xsd#ambc_ReconciliationofUnrecognizedTaxBenefitsLineItems" xlink:label="loc_ambc_ReconciliationofUnrecognizedTaxBenefitsLineItems_2B9239236F193A0A87C1578F48C232E8" xlink:type="locator" />
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    <link:label id="lab_us-gaap_UnrecognizedTaxBenefitsInterestOnIncomeTaxesAccrued_9A3D47E2816FDEF4AB80578F48C22476_terseLabel_en-US" xlink:label="lab_us-gaap_UnrecognizedTaxBenefitsInterestOnIncomeTaxesAccrued_9A3D47E2816FDEF4AB80578F48C22476" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Unrecognized Tax Benefits, Interest on Income Taxes Accrued</link:label>
    <link:label id="lab_us-gaap_UnrecognizedTaxBenefitsInterestOnIncomeTaxesAccrued_9A3D47E2816FDEF4AB80578F48C22476_label_en-US" xlink:label="lab_us-gaap_UnrecognizedTaxBenefitsInterestOnIncomeTaxesAccrued_9A3D47E2816FDEF4AB80578F48C22476" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Unrecognized Tax Benefits, Interest on Income Taxes Accrued</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_UnrecognizedTaxBenefitsInterestOnIncomeTaxesAccrued" xlink:label="loc_us-gaap_UnrecognizedTaxBenefitsInterestOnIncomeTaxesAccrued_9A3D47E2816FDEF4AB80578F48C22476" xlink:type="locator" />
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    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_MortgageLoansOnRealEstateWriteDownOrReserveByLoanAxis" xlink:label="loc_us-gaap_MortgageLoansOnRealEstateWriteDownOrReserveByLoanAxis_4330F37C8854125F10F0578F420E75AE" xlink:type="locator" />
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    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_MortgageLoansOnRealEstateWriteDownOrReserveLoanDomain" xlink:label="loc_us-gaap_MortgageLoansOnRealEstateWriteDownOrReserveLoanDomain_EAA32BF9F04D3391BEE8578F420EED77" xlink:type="locator" />
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    <link:label id="lab_ambc_AdverseSamplesMember_BFB5D034D26E41DD8A64578F420EA8CE_documentation_en-US" xlink:label="lab_ambc_AdverseSamplesMember_BFB5D034D26E41DD8A64578F420EA8CE" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Adverse samples.</link:label>
    <link:loc xlink:href="ambc-20160331.xsd#ambc_AdverseSamplesMember" xlink:label="loc_ambc_AdverseSamplesMember_BFB5D034D26E41DD8A64578F420EA8CE" xlink:type="locator" />
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    <link:label id="lab_ambc_RandomSamplesMember_8B367BF03623E1CAA783578F420E22DA_documentation_en-US" xlink:label="lab_ambc_RandomSamplesMember_8B367BF03623E1CAA783578F420E22DA" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Random samples.</link:label>
    <link:loc xlink:href="ambc-20160331.xsd#ambc_RandomSamplesMember" xlink:label="loc_ambc_RandomSamplesMember_8B367BF03623E1CAA783578F420E22DA" xlink:type="locator" />
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    <link:label id="lab_us-gaap_ValuationTechniqueAxis_859492382863A5743BD1578F420E9EB9_terseLabel_en-US" xlink:label="lab_us-gaap_ValuationTechniqueAxis_859492382863A5743BD1578F420E9EB9" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Valuation Technique [Axis]</link:label>
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    <link:label id="lab_ambc_ScheduleOfBalanceOfRmbsSubrogationRecoveriesAndRelatedClaimLiabilitiesByEstimationApproachLineItems_1D141BF0526502B311BE578F420ED77B_terseLabel_en-US" xlink:label="lab_ambc_ScheduleOfBalanceOfRmbsSubrogationRecoveriesAndRelatedClaimLiabilitiesByEstimationApproachLineItems_1D141BF0526502B311BE578F420ED77B" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule Of Balance Of Rmbs Subrogation Recoveries And Related Claim Liabilities By Estimation Approach [Line Items]</link:label>
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    <link:loc xlink:href="ambc-20160331.xsd#ambc_ScheduleOfBalanceOfRmbsSubrogationRecoveriesAndRelatedClaimLiabilitiesByEstimationApproachLineItems" xlink:label="loc_ambc_ScheduleOfBalanceOfRmbsSubrogationRecoveriesAndRelatedClaimLiabilitiesByEstimationApproachLineItems_1D141BF0526502B311BE578F420ED77B" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ambc_ScheduleOfBalanceOfRmbsSubrogationRecoveriesAndRelatedClaimLiabilitiesByEstimationApproachLineItems_1D141BF0526502B311BE578F420ED77B" xlink:to="lab_ambc_ScheduleOfBalanceOfRmbsSubrogationRecoveriesAndRelatedClaimLiabilitiesByEstimationApproachLineItems_1D141BF0526502B311BE578F420ED77B" xlink:type="arc" />
    <link:label id="lab_ambc_ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationRmbsGrossClaimLiabilitiesBeforeSubrogationRecoveries_8CCC31559F5F3617CF66578F420E8372_totalLabel_en-US" xlink:label="lab_ambc_ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationRmbsGrossClaimLiabilitiesBeforeSubrogationRecoveries_8CCC31559F5F3617CF66578F420E8372" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Gross loss reserve before subrogation recoveries</link:label>
    <link:label id="lab_ambc_ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationRmbsGrossClaimLiabilitiesBeforeSubrogationRecoveries_8CCC31559F5F3617CF66578F420E8372_label_en-US" xlink:label="lab_ambc_ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationRmbsGrossClaimLiabilitiesBeforeSubrogationRecoveries_8CCC31559F5F3617CF66578F420E8372" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule Of Insured Financial Obligations With Credit Deterioration Rmbs Gross Claim Liabilities Before Subrogation Recoveries</link:label>
    <link:label id="lab_ambc_ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationRmbsGrossClaimLiabilitiesBeforeSubrogationRecoveries_8CCC31559F5F3617CF66578F420E8372_documentation_en-US" xlink:label="lab_ambc_ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationRmbsGrossClaimLiabilitiesBeforeSubrogationRecoveries_8CCC31559F5F3617CF66578F420E8372" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">This element represents the related gross claim liability for RMBS financial guarantee insurance contracts with credit deterioration that have estimated subrogation recoveries.</link:label>
    <link:loc xlink:href="ambc-20160331.xsd#ambc_ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationRmbsGrossClaimLiabilitiesBeforeSubrogationRecoveries" xlink:label="loc_ambc_ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationRmbsGrossClaimLiabilitiesBeforeSubrogationRecoveries_8CCC31559F5F3617CF66578F420E8372" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ambc_ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationRmbsGrossClaimLiabilitiesBeforeSubrogationRecoveries_8CCC31559F5F3617CF66578F420E8372" xlink:to="lab_ambc_ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationRmbsGrossClaimLiabilitiesBeforeSubrogationRecoveries_8CCC31559F5F3617CF66578F420E8372" xlink:type="arc" />
    <link:label id="lab_ambc_ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationReductionsOfGrossClaimLiabilityRmbsSubrogation_D64D48119CA9B888ABAD578F420E710D_terseLabel_en-US" xlink:label="lab_ambc_ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationReductionsOfGrossClaimLiabilityRmbsSubrogation_D64D48119CA9B888ABAD578F420E710D" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Subrogation recoveries</link:label>
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    <link:label id="lab_ambc_ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationRmbsGrossClaimLiabilitiesAfterSubrogationRecoveries_7A59407D1339AA935348578F420E7072_totalLabel_en-US" xlink:label="lab_ambc_ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationRmbsGrossClaimLiabilitiesAfterSubrogationRecoveries_7A59407D1339AA935348578F420E7072" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Gross loss reserve after subrogation recoveries</link:label>
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    <link:label id="lab_ambc_ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationRmbsGrossClaimLiabilitiesAfterSubrogationRecoveries_7A59407D1339AA935348578F420E7072_documentation_en-US" xlink:label="lab_ambc_ScheduleOfInsuredFinancialObligationsWithCreditDeteriorationRmbsGrossClaimLiabilitiesAfterSubrogationRecoveries_7A59407D1339AA935348578F420E7072" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">This element represents the related gross claim liability net of subrogation recoveries for RMBS financial guarantee insurance contracts with credit deterioration that have estimated subrogation recoveries.</link:label>
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    <link:label id="lab_ambc_ChangesinEstimationApproachInRmbsSubrogation_D2F4BE2A545FE5B47485578F420EE357_terseLabel_en-US" xlink:label="lab_ambc_ChangesinEstimationApproachInRmbsSubrogation_D2F4BE2A545FE5B47485578F420EE357" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Changes in Estimation Approach In Rmbs Subrogation</link:label>
    <link:label id="lab_ambc_ChangesinEstimationApproachInRmbsSubrogation_D2F4BE2A545FE5B47485578F420EE357_label_en-US" xlink:label="lab_ambc_ChangesinEstimationApproachInRmbsSubrogation_D2F4BE2A545FE5B47485578F420EE357" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Changes in Estimation Approach In Rmbs Subrogation</link:label>
    <link:label id="lab_ambc_ChangesinEstimationApproachInRmbsSubrogation_D2F4BE2A545FE5B47485578F420EE357_documentation_en-US" xlink:label="lab_ambc_ChangesinEstimationApproachInRmbsSubrogation_D2F4BE2A545FE5B47485578F420EE357" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">This element represents the change in subrogation due to changes in estimation approach.</link:label>
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    <link:label id="lab_ambc_ImpactOfSponsorActionsInResidentialMortgageBackedSecuritiesSubrogation_E8581E3188D7E1569A64578F420EEC8E_terseLabel_en-US" xlink:label="lab_ambc_ImpactOfSponsorActionsInResidentialMortgageBackedSecuritiesSubrogation_E8581E3188D7E1569A64578F420EEC8E" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Impact Of Sponsor Actions In Residential Mortgage Backed Securities Subrogation</link:label>
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    <link:label id="lab_ambc_OtherChangesRmbsSubrogation_F90C8CC34F26DD3AE9FA578F420E73BF_terseLabel_en-US" xlink:label="lab_ambc_OtherChangesRmbsSubrogation_F90C8CC34F26DD3AE9FA578F420E73BF" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other Changes Rmbs Subrogation</link:label>
    <link:label id="lab_ambc_OtherChangesRmbsSubrogation_F90C8CC34F26DD3AE9FA578F420E73BF_label_en-US" xlink:label="lab_ambc_OtherChangesRmbsSubrogation_F90C8CC34F26DD3AE9FA578F420E73BF" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Changes Rmbs Subrogation</link:label>
    <link:label id="lab_ambc_OtherChangesRmbsSubrogation_F90C8CC34F26DD3AE9FA578F420E73BF_documentation_en-US" xlink:label="lab_ambc_OtherChangesRmbsSubrogation_F90C8CC34F26DD3AE9FA578F420E73BF" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">This element represents the changes in RMBS subrogation for reasons other than additional transactions being reviewed, adverse loans being reviewed or due to adverse loans being repurchased by the sponsor.</link:label>
    <link:loc xlink:href="ambc-20160331.xsd#ambc_OtherChangesRmbsSubrogation" xlink:label="loc_ambc_OtherChangesRmbsSubrogation_F90C8CC34F26DD3AE9FA578F420E73BF" xlink:type="locator" />
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    <link:label id="lab_ambc_AdverseLoansRepurchasedBySponsorChangeinRmbsSubrogation_9EC7232CDBED34AD92DF578F420E2714_terseLabel_en-US" xlink:label="lab_ambc_AdverseLoansRepurchasedBySponsorChangeinRmbsSubrogation_9EC7232CDBED34AD92DF578F420E2714" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Adverse Loans Repurchased By Sponsor Change in Rmbs Subrogation</link:label>
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    <link:label id="lab_ambc_AdverseLoansRepurchasedBySponsorChangeinRmbsSubrogation_9EC7232CDBED34AD92DF578F420E2714_documentation_en-US" xlink:label="lab_ambc_AdverseLoansRepurchasedBySponsorChangeinRmbsSubrogation_9EC7232CDBED34AD92DF578F420E2714" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">This element represents the change in Rmbs subrogation due to adverse loans repurchased by the sponsor.</link:label>
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    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_MunicipalBondsMember" xlink:label="loc_us-gaap_MunicipalBondsMember_24766618232A80148E7D9AEDCACA5AFC" xlink:type="locator" />
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    <link:loc xlink:href="ambc-20160331.xsd#ambc_FairValueOfAssetsAndLiabilitiesMeasuredOnNonRecurringBasisLineItems" xlink:label="loc_ambc_FairValueOfAssetsAndLiabilitiesMeasuredOnNonRecurringBasisLineItems_D47EA60B69C2E753DCD19AEDCACDED8C" xlink:type="locator" />
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    <link:label id="lab_us-gaap_FinancialInstrumentsFinancialAssetsBalanceSheetGroupingsAbstract_59C978D94960987A0EA79AEDCACD60A7_terseLabel_en-US" xlink:label="lab_us-gaap_FinancialInstrumentsFinancialAssetsBalanceSheetGroupingsAbstract_59C978D94960987A0EA79AEDCACD60A7" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Financial assets:</link:label>
    <link:label id="lab_us-gaap_FinancialInstrumentsFinancialAssetsBalanceSheetGroupingsAbstract_59C978D94960987A0EA79AEDCACD60A7_label_en-US" xlink:label="lab_us-gaap_FinancialInstrumentsFinancialAssetsBalanceSheetGroupingsAbstract_59C978D94960987A0EA79AEDCACD60A7" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FinancialInstrumentsFinancialAssetsBalanceSheetGroupingsAbstract" xlink:label="loc_us-gaap_FinancialInstrumentsFinancialAssetsBalanceSheetGroupingsAbstract_59C978D94960987A0EA79AEDCACD60A7" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FinancialInstrumentsFinancialAssetsBalanceSheetGroupingsAbstract_59C978D94960987A0EA79AEDCACD60A7" xlink:to="lab_us-gaap_FinancialInstrumentsFinancialAssetsBalanceSheetGroupingsAbstract_59C978D94960987A0EA79AEDCACD60A7" xlink:type="arc" />
    <link:label id="lab_us-gaap_SecurityOwnedAndPledgedAsCollateralFairValue_D85F70C0ACFDC8385BE69AEDCACD28D5_terseLabel_en-US" xlink:label="lab_us-gaap_SecurityOwnedAndPledgedAsCollateralFairValue_D85F70C0ACFDC8385BE69AEDCACD28D5" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Fixed income securities, pledged as collateral</link:label>
    <link:label id="lab_us-gaap_SecurityOwnedAndPledgedAsCollateralFairValue_D85F70C0ACFDC8385BE69AEDCACD28D5_label_en-US" xlink:label="lab_us-gaap_SecurityOwnedAndPledgedAsCollateralFairValue_D85F70C0ACFDC8385BE69AEDCACD28D5" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Security Owned and Pledged as Collateral, Fair Value</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_SecurityOwnedAndPledgedAsCollateralFairValue" xlink:label="loc_us-gaap_SecurityOwnedAndPledgedAsCollateralFairValue_D85F70C0ACFDC8385BE69AEDCACD28D5" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SecurityOwnedAndPledgedAsCollateralFairValue_D85F70C0ACFDC8385BE69AEDCACD28D5" xlink:to="lab_us-gaap_SecurityOwnedAndPledgedAsCollateralFairValue_D85F70C0ACFDC8385BE69AEDCACD28D5" xlink:type="arc" />
    <link:label id="lab_us-gaap_OtherShortTermInvestments_A295A03042F9096768559AEDCACD78EC_terseLabel_en-US" xlink:label="lab_us-gaap_OtherShortTermInvestments_A295A03042F9096768559AEDCACD78EC" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Short term investments</link:label>
    <link:label id="lab_us-gaap_OtherShortTermInvestments_A295A03042F9096768559AEDCACD78EC_label_en-US" xlink:label="lab_us-gaap_OtherShortTermInvestments_A295A03042F9096768559AEDCACD78EC" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Short-term Investments</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_OtherShortTermInvestments" xlink:label="loc_us-gaap_OtherShortTermInvestments_A295A03042F9096768559AEDCACD78EC" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherShortTermInvestments_A295A03042F9096768559AEDCACD78EC" xlink:to="lab_us-gaap_OtherShortTermInvestments_A295A03042F9096768559AEDCACD78EC" xlink:type="arc" />
    <link:label id="lab_us-gaap_CashAndCashEquivalentsFairValueDisclosure_E6A58252B74EBFAE3A5F9AEDCACE57B4_terseLabel_en-US" xlink:label="lab_us-gaap_CashAndCashEquivalentsFairValueDisclosure_E6A58252B74EBFAE3A5F9AEDCACE57B4" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cash</link:label>
    <link:label id="lab_us-gaap_CashAndCashEquivalentsFairValueDisclosure_E6A58252B74EBFAE3A5F9AEDCACE57B4_label_en-US" xlink:label="lab_us-gaap_CashAndCashEquivalentsFairValueDisclosure_E6A58252B74EBFAE3A5F9AEDCACE57B4" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash and Cash Equivalents, Fair Value Disclosure</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CashAndCashEquivalentsFairValueDisclosure" xlink:label="loc_us-gaap_CashAndCashEquivalentsFairValueDisclosure_E6A58252B74EBFAE3A5F9AEDCACE57B4" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CashAndCashEquivalentsFairValueDisclosure_E6A58252B74EBFAE3A5F9AEDCACE57B4" xlink:to="lab_us-gaap_CashAndCashEquivalentsFairValueDisclosure_E6A58252B74EBFAE3A5F9AEDCACE57B4" xlink:type="arc" />
    <link:label id="lab_ambc_RestrictedCashAndCashEquivalentsFairValueDisclosure_0B6030D38084EBEE6AD49AEDCACECDCA_terseLabel_en-US" xlink:label="lab_ambc_RestrictedCashAndCashEquivalentsFairValueDisclosure_0B6030D38084EBEE6AD49AEDCACECDCA" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Restricted cash</link:label>
    <link:label id="lab_ambc_RestrictedCashAndCashEquivalentsFairValueDisclosure_0B6030D38084EBEE6AD49AEDCACECDCA_label_en-US" xlink:label="lab_ambc_RestrictedCashAndCashEquivalentsFairValueDisclosure_0B6030D38084EBEE6AD49AEDCACECDCA" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Restricted Cash And Cash Equivalents Fair Value Disclosure</link:label>
    <link:label id="lab_ambc_RestrictedCashAndCashEquivalentsFairValueDisclosure_0B6030D38084EBEE6AD49AEDCACECDCA_documentation_en-US" xlink:label="lab_ambc_RestrictedCashAndCashEquivalentsFairValueDisclosure_0B6030D38084EBEE6AD49AEDCACECDCA" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Fair value of restricted cash and cash equivalents.</link:label>
    <link:loc xlink:href="ambc-20160331.xsd#ambc_RestrictedCashAndCashEquivalentsFairValueDisclosure" xlink:label="loc_ambc_RestrictedCashAndCashEquivalentsFairValueDisclosure_0B6030D38084EBEE6AD49AEDCACECDCA" xlink:type="locator" />
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    <link:label id="lab_us-gaap_LoansReceivableFairValueDisclosure_ED6EC8CF08ED7DE2E2829AEDCACE885C_terseLabel_en-US" xlink:label="lab_us-gaap_LoansReceivableFairValueDisclosure_ED6EC8CF08ED7DE2E2829AEDCACE885C" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Loans</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LoansReceivableFairValueDisclosure" xlink:label="loc_us-gaap_LoansReceivableFairValueDisclosure_ED6EC8CF08ED7DE2E2829AEDCACE885C" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LoansReceivableFairValueDisclosure_ED6EC8CF08ED7DE2E2829AEDCACE885C" xlink:to="lab_us-gaap_LoansReceivableFairValueDisclosure_ED6EC8CF08ED7DE2E2829AEDCACE885C" xlink:type="arc" />
    <link:label id="lab_us-gaap_DerivativeFairValueOfDerivativeAsset_7908E76FE335FF50BF039AEDCACE2B6D_terseLabel_en-US" xlink:label="lab_us-gaap_DerivativeFairValueOfDerivativeAsset_7908E76FE335FF50BF039AEDCACE2B6D" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Derivative assets</link:label>
    <link:label id="lab_us-gaap_DerivativeFairValueOfDerivativeAsset_7908E76FE335FF50BF039AEDCACE2B6D_label_en-US" xlink:label="lab_us-gaap_DerivativeFairValueOfDerivativeAsset_7908E76FE335FF50BF039AEDCACE2B6D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Derivative Asset, Fair Value, Gross Asset</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DerivativeFairValueOfDerivativeAsset" xlink:label="loc_us-gaap_DerivativeFairValueOfDerivativeAsset_7908E76FE335FF50BF039AEDCACE2B6D" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DerivativeFairValueOfDerivativeAsset_7908E76FE335FF50BF039AEDCACE2B6D" xlink:to="lab_us-gaap_DerivativeFairValueOfDerivativeAsset_7908E76FE335FF50BF039AEDCACE2B6D" xlink:type="arc" />
    <link:label id="lab_us-gaap_DerivativeAssetFairValueGrossLiability_AB96408842EA3ADF865A9AEDCACECCAF_negatedLabel_en-US" xlink:label="lab_us-gaap_DerivativeAssetFairValueGrossLiability_AB96408842EA3ADF865A9AEDCACECCAF" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Derivative assets - interest rate swaps - liability position</link:label>
    <link:label id="lab_us-gaap_DerivativeAssetFairValueGrossLiability_AB96408842EA3ADF865A9AEDCACECCAF_label_en-US" xlink:label="lab_us-gaap_DerivativeAssetFairValueGrossLiability_AB96408842EA3ADF865A9AEDCACECCAF" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Derivative Asset, Fair Value, Gross Liability</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DerivativeAssetFairValueGrossLiability" xlink:label="loc_us-gaap_DerivativeAssetFairValueGrossLiability_AB96408842EA3ADF865A9AEDCACECCAF" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DerivativeAssetFairValueGrossLiability_AB96408842EA3ADF865A9AEDCACECCAF" xlink:to="lab_us-gaap_DerivativeAssetFairValueGrossLiability_AB96408842EA3ADF865A9AEDCACECCAF" xlink:type="arc" />
    <link:label id="lab_us-gaap_EquityMethodInvestmentsFairValueDisclosure_FA1AFFD30DEFF1A7A3039AEDCACEECAB_verboseLabel_en-US" xlink:label="lab_us-gaap_EquityMethodInvestmentsFairValueDisclosure_FA1AFFD30DEFF1A7A3039AEDCACEECAB" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Other assets</link:label>
    <link:label id="lab_us-gaap_EquityMethodInvestmentsFairValueDisclosure_FA1AFFD30DEFF1A7A3039AEDCACEECAB_label_en-US" xlink:label="lab_us-gaap_EquityMethodInvestmentsFairValueDisclosure_FA1AFFD30DEFF1A7A3039AEDCACEECAB" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity Method Investments, Fair Value Disclosure</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_EquityMethodInvestmentsFairValueDisclosure" xlink:label="loc_us-gaap_EquityMethodInvestmentsFairValueDisclosure_FA1AFFD30DEFF1A7A3039AEDCACEECAB" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EquityMethodInvestmentsFairValueDisclosure_FA1AFFD30DEFF1A7A3039AEDCACEECAB" xlink:to="lab_us-gaap_EquityMethodInvestmentsFairValueDisclosure_FA1AFFD30DEFF1A7A3039AEDCACEECAB" xlink:type="arc" />
    <link:label id="lab_us-gaap_AssetsFairValueDisclosure_21A070868DB5E3437F6A9AEDCACE30C6_terseLabel_en-US" xlink:label="lab_us-gaap_AssetsFairValueDisclosure_21A070868DB5E3437F6A9AEDCACE30C6" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Total financial assets</link:label>
    <link:label id="lab_us-gaap_AssetsFairValueDisclosure_21A070868DB5E3437F6A9AEDCACE30C6_label_en-US" xlink:label="lab_us-gaap_AssetsFairValueDisclosure_21A070868DB5E3437F6A9AEDCACE30C6" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Assets, Fair Value Disclosure</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AssetsFairValueDisclosure" xlink:label="loc_us-gaap_AssetsFairValueDisclosure_21A070868DB5E3437F6A9AEDCACE30C6" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AssetsFairValueDisclosure_21A070868DB5E3437F6A9AEDCACE30C6" xlink:to="lab_us-gaap_AssetsFairValueDisclosure_21A070868DB5E3437F6A9AEDCACE30C6" xlink:type="arc" />
    <link:label id="lab_us-gaap_FinancialInstrumentsFinancialLiabilitiesBalanceSheetGroupingsAbstract_CFBD1977289EB2433B289AEDCACE3C02_terseLabel_en-US" xlink:label="lab_us-gaap_FinancialInstrumentsFinancialLiabilitiesBalanceSheetGroupingsAbstract_CFBD1977289EB2433B289AEDCACE3C02" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Financial liabilities:</link:label>
    <link:label id="lab_us-gaap_FinancialInstrumentsFinancialLiabilitiesBalanceSheetGroupingsAbstract_CFBD1977289EB2433B289AEDCACE3C02_label_en-US" xlink:label="lab_us-gaap_FinancialInstrumentsFinancialLiabilitiesBalanceSheetGroupingsAbstract_CFBD1977289EB2433B289AEDCACE3C02" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financial Instruments, Financial Liabilities, Balance Sheet Groupings [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FinancialInstrumentsFinancialLiabilitiesBalanceSheetGroupingsAbstract" xlink:label="loc_us-gaap_FinancialInstrumentsFinancialLiabilitiesBalanceSheetGroupingsAbstract_CFBD1977289EB2433B289AEDCACE3C02" xlink:type="locator" />
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    <link:label id="lab_ambc_GuaranteedInvestmentAgreementsFairValueDisclosure_F106AAF7FE2E0E87BE7D9AEDCACE0B18_terseLabel_en-US" xlink:label="lab_ambc_GuaranteedInvestmentAgreementsFairValueDisclosure_F106AAF7FE2E0E87BE7D9AEDCACE0B18" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Obligations under investment and repurchase agreements</link:label>
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    <link:label id="lab_ambc_GuaranteedInvestmentAgreementsFairValueDisclosure_F106AAF7FE2E0E87BE7D9AEDCACE0B18_documentation_en-US" xlink:label="lab_ambc_GuaranteedInvestmentAgreementsFairValueDisclosure_F106AAF7FE2E0E87BE7D9AEDCACE0B18" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Guaranteed investment agreements at fair value.</link:label>
    <link:loc xlink:href="ambc-20160331.xsd#ambc_GuaranteedInvestmentAgreementsFairValueDisclosure" xlink:label="loc_ambc_GuaranteedInvestmentAgreementsFairValueDisclosure_F106AAF7FE2E0E87BE7D9AEDCACE0B18" xlink:type="locator" />
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    <link:label id="lab_us-gaap_DerivativeLiabilityFairValueGrossAsset_27213935DB431B818E2F9AEDCACE836B_negatedLabel_en-US" xlink:label="lab_us-gaap_DerivativeLiabilityFairValueGrossAsset_27213935DB431B818E2F9AEDCACE836B" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Derivative liabilities - interest rate swaps - asset position</link:label>
    <link:label id="lab_us-gaap_DerivativeLiabilityFairValueGrossAsset_27213935DB431B818E2F9AEDCACE836B_label_en-US" xlink:label="lab_us-gaap_DerivativeLiabilityFairValueGrossAsset_27213935DB431B818E2F9AEDCACE836B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Derivative Liability, Fair Value, Gross Asset</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DerivativeLiabilityFairValueGrossAsset" xlink:label="loc_us-gaap_DerivativeLiabilityFairValueGrossAsset_27213935DB431B818E2F9AEDCACE836B" xlink:type="locator" />
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    <link:label id="lab_us-gaap_DerivativeFairValueOfDerivativeLiability_461991E22C9B267305459AEDCACE8A4E_terseLabel_en-US" xlink:label="lab_us-gaap_DerivativeFairValueOfDerivativeLiability_461991E22C9B267305459AEDCACE8A4E" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Derivative liabilities</link:label>
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    <link:label id="lab_ambc_MinimumSurplusAmount_B694E569320A1A7621D3E1E442FFC1E7_terseLabel_en-US" xlink:label="lab_ambc_MinimumSurplusAmount_B694E569320A1A7621D3E1E442FFC1E7" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Minimum surplus amount</link:label>
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    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FinancialGuaranteeInsuranceContractsPremiumExpectedToBeCollectedDuringFirstQuarterFollowingBalanceSheetDate_9B51EF3D24BFF2187283578F42C9A1E1" xlink:to="lab_us-gaap_FinancialGuaranteeInsuranceContractsPremiumExpectedToBeCollectedDuringFirstQuarterFollowingBalanceSheetDate_9B51EF3D24BFF2187283578F42C9A1E1" xlink:type="arc" />
    <link:label id="lab_us-gaap_FinancialGuaranteeInsuranceContractsPremiumExpectedToBeCollectedDuringSecondQuarterFollowingTheBalanceSheetDate_1ED331BDFC45A245EFA3578F42C9B3AC_terseLabel_en-US" xlink:label="lab_us-gaap_FinancialGuaranteeInsuranceContractsPremiumExpectedToBeCollectedDuringSecondQuarterFollowingTheBalanceSheetDate_1ED331BDFC45A245EFA3578F42C9B3AC" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Future premiums expected to be collected, June 30. 2015</link:label>
    <link:label id="lab_us-gaap_FinancialGuaranteeInsuranceContractsPremiumExpectedToBeCollectedDuringSecondQuarterFollowingTheBalanceSheetDate_1ED331BDFC45A245EFA3578F42C9B3AC_label_en-US" xlink:label="lab_us-gaap_FinancialGuaranteeInsuranceContractsPremiumExpectedToBeCollectedDuringSecondQuarterFollowingTheBalanceSheetDate_1ED331BDFC45A245EFA3578F42C9B3AC" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financial Guarantee Insurance Contracts, Premium Receivable, Premium Expected to be Collected, Second Quarter</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FinancialGuaranteeInsuranceContractsPremiumExpectedToBeCollectedDuringSecondQuarterFollowingTheBalanceSheetDate" xlink:label="loc_us-gaap_FinancialGuaranteeInsuranceContractsPremiumExpectedToBeCollectedDuringSecondQuarterFollowingTheBalanceSheetDate_1ED331BDFC45A245EFA3578F42C9B3AC" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FinancialGuaranteeInsuranceContractsPremiumExpectedToBeCollectedDuringSecondQuarterFollowingTheBalanceSheetDate_1ED331BDFC45A245EFA3578F42C9B3AC" xlink:to="lab_us-gaap_FinancialGuaranteeInsuranceContractsPremiumExpectedToBeCollectedDuringSecondQuarterFollowingTheBalanceSheetDate_1ED331BDFC45A245EFA3578F42C9B3AC" xlink:type="arc" />
    <link:label id="lab_us-gaap_FinancialGuaranteeInsuranceContractsPremiumExpectedToBeCollectedDuringThirdQuarterFollowingBalanceSheetDate_2D36BC65BEEE662A6D87578F42C92973_terseLabel_en-US" xlink:label="lab_us-gaap_FinancialGuaranteeInsuranceContractsPremiumExpectedToBeCollectedDuringThirdQuarterFollowingBalanceSheetDate_2D36BC65BEEE662A6D87578F42C92973" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Future premiums expected to be collected, September 30, 2015</link:label>
    <link:label id="lab_us-gaap_FinancialGuaranteeInsuranceContractsPremiumExpectedToBeCollectedDuringThirdQuarterFollowingBalanceSheetDate_2D36BC65BEEE662A6D87578F42C92973_label_en-US" xlink:label="lab_us-gaap_FinancialGuaranteeInsuranceContractsPremiumExpectedToBeCollectedDuringThirdQuarterFollowingBalanceSheetDate_2D36BC65BEEE662A6D87578F42C92973" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financial Guarantee Insurance Contracts, Premium Receivable, Premium Expected to be Collected, Third Quarter</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FinancialGuaranteeInsuranceContractsPremiumExpectedToBeCollectedDuringThirdQuarterFollowingBalanceSheetDate" xlink:label="loc_us-gaap_FinancialGuaranteeInsuranceContractsPremiumExpectedToBeCollectedDuringThirdQuarterFollowingBalanceSheetDate_2D36BC65BEEE662A6D87578F42C92973" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FinancialGuaranteeInsuranceContractsPremiumExpectedToBeCollectedDuringThirdQuarterFollowingBalanceSheetDate_2D36BC65BEEE662A6D87578F42C92973" xlink:to="lab_us-gaap_FinancialGuaranteeInsuranceContractsPremiumExpectedToBeCollectedDuringThirdQuarterFollowingBalanceSheetDate_2D36BC65BEEE662A6D87578F42C92973" xlink:type="arc" />
    <link:label id="lab_us-gaap_FinancialGuaranteeInsuranceContractsPremiumExpectedToBeCollectedDuringFourthQuarterFollowingBalanceSheetDate_A24389895247CBF71751578F42C90792_terseLabel_en-US" xlink:label="lab_us-gaap_FinancialGuaranteeInsuranceContractsPremiumExpectedToBeCollectedDuringFourthQuarterFollowingBalanceSheetDate_A24389895247CBF71751578F42C90792" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Future premiums expected to be collected, December 31, 2015</link:label>
    <link:label id="lab_us-gaap_FinancialGuaranteeInsuranceContractsPremiumExpectedToBeCollectedDuringFourthQuarterFollowingBalanceSheetDate_A24389895247CBF71751578F42C90792_label_en-US" xlink:label="lab_us-gaap_FinancialGuaranteeInsuranceContractsPremiumExpectedToBeCollectedDuringFourthQuarterFollowingBalanceSheetDate_A24389895247CBF71751578F42C90792" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financial Guarantee Insurance Contracts, Premium Receivable, Premium Expected to be Collected, Fourth Quarter</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FinancialGuaranteeInsuranceContractsPremiumExpectedToBeCollectedDuringFourthQuarterFollowingBalanceSheetDate" xlink:label="loc_us-gaap_FinancialGuaranteeInsuranceContractsPremiumExpectedToBeCollectedDuringFourthQuarterFollowingBalanceSheetDate_A24389895247CBF71751578F42C90792" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FinancialGuaranteeInsuranceContractsPremiumExpectedToBeCollectedDuringFourthQuarterFollowingBalanceSheetDate_A24389895247CBF71751578F42C90792" xlink:to="lab_us-gaap_FinancialGuaranteeInsuranceContractsPremiumExpectedToBeCollectedDuringFourthQuarterFollowingBalanceSheetDate_A24389895247CBF71751578F42C90792" xlink:type="arc" />
    <link:label id="lab_us-gaap_FinancialGuaranteeInsuranceContractsPremiumExpectedToBeCollectedMoreThanOneAndWithinTwoYearsFromBalanceSheetDate_45311B28A45343E0AB83578F42C99B28_terseLabel_en-US" xlink:label="lab_us-gaap_FinancialGuaranteeInsuranceContractsPremiumExpectedToBeCollectedMoreThanOneAndWithinTwoYearsFromBalanceSheetDate_45311B28A45343E0AB83578F42C99B28" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Future premiums expected to be collected, December 31, 2016</link:label>
    <link:label id="lab_us-gaap_FinancialGuaranteeInsuranceContractsPremiumExpectedToBeCollectedMoreThanOneAndWithinTwoYearsFromBalanceSheetDate_45311B28A45343E0AB83578F42C99B28_label_en-US" xlink:label="lab_us-gaap_FinancialGuaranteeInsuranceContractsPremiumExpectedToBeCollectedMoreThanOneAndWithinTwoYearsFromBalanceSheetDate_45311B28A45343E0AB83578F42C99B28" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financial Guarantee Insurance Contracts, Premium Receivable, Premium Expected to be Collected, Year Two</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FinancialGuaranteeInsuranceContractsPremiumExpectedToBeCollectedMoreThanOneAndWithinTwoYearsFromBalanceSheetDate" xlink:label="loc_us-gaap_FinancialGuaranteeInsuranceContractsPremiumExpectedToBeCollectedMoreThanOneAndWithinTwoYearsFromBalanceSheetDate_45311B28A45343E0AB83578F42C99B28" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FinancialGuaranteeInsuranceContractsPremiumExpectedToBeCollectedMoreThanOneAndWithinTwoYearsFromBalanceSheetDate_45311B28A45343E0AB83578F42C99B28" xlink:to="lab_us-gaap_FinancialGuaranteeInsuranceContractsPremiumExpectedToBeCollectedMoreThanOneAndWithinTwoYearsFromBalanceSheetDate_45311B28A45343E0AB83578F42C99B28" xlink:type="arc" />
    <link:label id="lab_us-gaap_FinancialGuaranteeInsuranceContractsPremiumExpectedToBeCollectedMoreThanTwoAndWithinThreeYearsFromBalanceSheetDate_B66EC9F337563A5BD953578F42C985A3_terseLabel_en-US" xlink:label="lab_us-gaap_FinancialGuaranteeInsuranceContractsPremiumExpectedToBeCollectedMoreThanTwoAndWithinThreeYearsFromBalanceSheetDate_B66EC9F337563A5BD953578F42C985A3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Future premiums expected to be collected, December 31, 2017</link:label>
    <link:label id="lab_us-gaap_FinancialGuaranteeInsuranceContractsPremiumExpectedToBeCollectedMoreThanTwoAndWithinThreeYearsFromBalanceSheetDate_B66EC9F337563A5BD953578F42C985A3_label_en-US" xlink:label="lab_us-gaap_FinancialGuaranteeInsuranceContractsPremiumExpectedToBeCollectedMoreThanTwoAndWithinThreeYearsFromBalanceSheetDate_B66EC9F337563A5BD953578F42C985A3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financial Guarantee Insurance Contracts, Premium Receivable, Premium Expected to be Collected, Year Three</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FinancialGuaranteeInsuranceContractsPremiumExpectedToBeCollectedMoreThanTwoAndWithinThreeYearsFromBalanceSheetDate" xlink:label="loc_us-gaap_FinancialGuaranteeInsuranceContractsPremiumExpectedToBeCollectedMoreThanTwoAndWithinThreeYearsFromBalanceSheetDate_B66EC9F337563A5BD953578F42C985A3" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FinancialGuaranteeInsuranceContractsPremiumExpectedToBeCollectedMoreThanTwoAndWithinThreeYearsFromBalanceSheetDate_B66EC9F337563A5BD953578F42C985A3" xlink:to="lab_us-gaap_FinancialGuaranteeInsuranceContractsPremiumExpectedToBeCollectedMoreThanTwoAndWithinThreeYearsFromBalanceSheetDate_B66EC9F337563A5BD953578F42C985A3" xlink:type="arc" />
    <link:label id="lab_us-gaap_FinancialGuaranteeInsuranceContractsPremiumExpectedToBeCollectedMoreThanThreeAndWithinFourYearsFromBalanceSheetDate_BD135B28E64DA50F29DC578F42C94ED3_terseLabel_en-US" xlink:label="lab_us-gaap_FinancialGuaranteeInsuranceContractsPremiumExpectedToBeCollectedMoreThanThreeAndWithinFourYearsFromBalanceSheetDate_BD135B28E64DA50F29DC578F42C94ED3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Future premiums expected to be collected, December 31, 2018</link:label>
    <link:label id="lab_us-gaap_FinancialGuaranteeInsuranceContractsPremiumExpectedToBeCollectedMoreThanThreeAndWithinFourYearsFromBalanceSheetDate_BD135B28E64DA50F29DC578F42C94ED3_label_en-US" xlink:label="lab_us-gaap_FinancialGuaranteeInsuranceContractsPremiumExpectedToBeCollectedMoreThanThreeAndWithinFourYearsFromBalanceSheetDate_BD135B28E64DA50F29DC578F42C94ED3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financial Guarantee Insurance Contracts, Premium Receivable, Premium Expected to be Collected, Year Four</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FinancialGuaranteeInsuranceContractsPremiumExpectedToBeCollectedMoreThanThreeAndWithinFourYearsFromBalanceSheetDate" xlink:label="loc_us-gaap_FinancialGuaranteeInsuranceContractsPremiumExpectedToBeCollectedMoreThanThreeAndWithinFourYearsFromBalanceSheetDate_BD135B28E64DA50F29DC578F42C94ED3" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FinancialGuaranteeInsuranceContractsPremiumExpectedToBeCollectedMoreThanThreeAndWithinFourYearsFromBalanceSheetDate_BD135B28E64DA50F29DC578F42C94ED3" xlink:to="lab_us-gaap_FinancialGuaranteeInsuranceContractsPremiumExpectedToBeCollectedMoreThanThreeAndWithinFourYearsFromBalanceSheetDate_BD135B28E64DA50F29DC578F42C94ED3" xlink:type="arc" />
    <link:label id="lab_us-gaap_FinancialGuaranteeInsuranceContractsPremiumExpectedToBeCollectedMoreThanFourAndWithinFiveYearsFromBalanceSheetDate_1D5CC2066009E98285F3578F42C976AC_terseLabel_en-US" xlink:label="lab_us-gaap_FinancialGuaranteeInsuranceContractsPremiumExpectedToBeCollectedMoreThanFourAndWithinFiveYearsFromBalanceSheetDate_1D5CC2066009E98285F3578F42C976AC" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Future premiums expected to be collected, December 31, 2019</link:label>
    <link:label id="lab_us-gaap_FinancialGuaranteeInsuranceContractsPremiumExpectedToBeCollectedMoreThanFourAndWithinFiveYearsFromBalanceSheetDate_1D5CC2066009E98285F3578F42C976AC_label_en-US" xlink:label="lab_us-gaap_FinancialGuaranteeInsuranceContractsPremiumExpectedToBeCollectedMoreThanFourAndWithinFiveYearsFromBalanceSheetDate_1D5CC2066009E98285F3578F42C976AC" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financial Guarantee Insurance Contracts, Premium Receivable, Premium Expected to be Collected, Year Five</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FinancialGuaranteeInsuranceContractsPremiumExpectedToBeCollectedMoreThanFourAndWithinFiveYearsFromBalanceSheetDate" xlink:label="loc_us-gaap_FinancialGuaranteeInsuranceContractsPremiumExpectedToBeCollectedMoreThanFourAndWithinFiveYearsFromBalanceSheetDate_1D5CC2066009E98285F3578F42C976AC" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FinancialGuaranteeInsuranceContractsPremiumExpectedToBeCollectedMoreThanFourAndWithinFiveYearsFromBalanceSheetDate_1D5CC2066009E98285F3578F42C976AC" xlink:to="lab_us-gaap_FinancialGuaranteeInsuranceContractsPremiumExpectedToBeCollectedMoreThanFourAndWithinFiveYearsFromBalanceSheetDate_1D5CC2066009E98285F3578F42C976AC" xlink:type="arc" />
    <link:label id="lab_us-gaap_FinancialGuaranteeInsuranceContractsPremiumExpectedToBeCollectedMoreThanFiveAndWithin10YearsFromBalanceSheetDate_40841DEC33BDE1899BE1578F42C929AC_terseLabel_en-US" xlink:label="lab_us-gaap_FinancialGuaranteeInsuranceContractsPremiumExpectedToBeCollectedMoreThanFiveAndWithin10YearsFromBalanceSheetDate_40841DEC33BDE1899BE1578F42C929AC" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Future premiums expected to be collected, December 31, 2024</link:label>
    <link:label id="lab_us-gaap_FinancialGuaranteeInsuranceContractsPremiumExpectedToBeCollectedMoreThanFiveAndWithin10YearsFromBalanceSheetDate_40841DEC33BDE1899BE1578F42C929AC_label_en-US" xlink:label="lab_us-gaap_FinancialGuaranteeInsuranceContractsPremiumExpectedToBeCollectedMoreThanFiveAndWithin10YearsFromBalanceSheetDate_40841DEC33BDE1899BE1578F42C929AC" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financial Guarantee Insurance Contracts, Premium Receivable, Premium Expected to be Collected, Year Six Through Ten</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FinancialGuaranteeInsuranceContractsPremiumExpectedToBeCollectedMoreThanFiveAndWithin10YearsFromBalanceSheetDate" xlink:label="loc_us-gaap_FinancialGuaranteeInsuranceContractsPremiumExpectedToBeCollectedMoreThanFiveAndWithin10YearsFromBalanceSheetDate_40841DEC33BDE1899BE1578F42C929AC" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FinancialGuaranteeInsuranceContractsPremiumExpectedToBeCollectedMoreThanFiveAndWithin10YearsFromBalanceSheetDate_40841DEC33BDE1899BE1578F42C929AC" xlink:to="lab_us-gaap_FinancialGuaranteeInsuranceContractsPremiumExpectedToBeCollectedMoreThanFiveAndWithin10YearsFromBalanceSheetDate_40841DEC33BDE1899BE1578F42C929AC" xlink:type="arc" />
    <link:label id="lab_us-gaap_FinancialGuaranteeInsuranceContractsPremiumExpectedToBeCollectedMoreThan10AndWithin15YearsFromBalanceSheetDate_84C32C45D1EB0CCDF1A8578F42C99C8C_terseLabel_en-US" xlink:label="lab_us-gaap_FinancialGuaranteeInsuranceContractsPremiumExpectedToBeCollectedMoreThan10AndWithin15YearsFromBalanceSheetDate_84C32C45D1EB0CCDF1A8578F42C99C8C" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Future premiums expected to be collected, December 31, 2029</link:label>
    <link:label id="lab_us-gaap_FinancialGuaranteeInsuranceContractsPremiumExpectedToBeCollectedMoreThan10AndWithin15YearsFromBalanceSheetDate_84C32C45D1EB0CCDF1A8578F42C99C8C_label_en-US" xlink:label="lab_us-gaap_FinancialGuaranteeInsuranceContractsPremiumExpectedToBeCollectedMoreThan10AndWithin15YearsFromBalanceSheetDate_84C32C45D1EB0CCDF1A8578F42C99C8C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financial Guarantee Insurance Contracts, Premium Receivable, Premium Expected to be Collected, Year 11 Through 15</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FinancialGuaranteeInsuranceContractsPremiumExpectedToBeCollectedMoreThan10AndWithin15YearsFromBalanceSheetDate" xlink:label="loc_us-gaap_FinancialGuaranteeInsuranceContractsPremiumExpectedToBeCollectedMoreThan10AndWithin15YearsFromBalanceSheetDate_84C32C45D1EB0CCDF1A8578F42C99C8C" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FinancialGuaranteeInsuranceContractsPremiumExpectedToBeCollectedMoreThan10AndWithin15YearsFromBalanceSheetDate_84C32C45D1EB0CCDF1A8578F42C99C8C" xlink:to="lab_us-gaap_FinancialGuaranteeInsuranceContractsPremiumExpectedToBeCollectedMoreThan10AndWithin15YearsFromBalanceSheetDate_84C32C45D1EB0CCDF1A8578F42C99C8C" xlink:type="arc" />
    <link:label id="lab_us-gaap_FinancialGuaranteeInsuranceContractsPremiumExpectedToBeCollectedMoreThan15AndWithin20YearsFromBalanceSheetDate_3C781F39A075F326F83F578F42C96762_terseLabel_en-US" xlink:label="lab_us-gaap_FinancialGuaranteeInsuranceContractsPremiumExpectedToBeCollectedMoreThan15AndWithin20YearsFromBalanceSheetDate_3C781F39A075F326F83F578F42C96762" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Future premiums expected to be collected, December 31, 2034</link:label>
    <link:label id="lab_us-gaap_FinancialGuaranteeInsuranceContractsPremiumExpectedToBeCollectedMoreThan15AndWithin20YearsFromBalanceSheetDate_3C781F39A075F326F83F578F42C96762_label_en-US" xlink:label="lab_us-gaap_FinancialGuaranteeInsuranceContractsPremiumExpectedToBeCollectedMoreThan15AndWithin20YearsFromBalanceSheetDate_3C781F39A075F326F83F578F42C96762" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financial Guarantee Insurance Contracts, Premium Receivable, Premium Expected to be Collected, Year 16 Through 20</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FinancialGuaranteeInsuranceContractsPremiumExpectedToBeCollectedMoreThan15AndWithin20YearsFromBalanceSheetDate" xlink:label="loc_us-gaap_FinancialGuaranteeInsuranceContractsPremiumExpectedToBeCollectedMoreThan15AndWithin20YearsFromBalanceSheetDate_3C781F39A075F326F83F578F42C96762" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FinancialGuaranteeInsuranceContractsPremiumExpectedToBeCollectedMoreThan15AndWithin20YearsFromBalanceSheetDate_3C781F39A075F326F83F578F42C96762" xlink:to="lab_us-gaap_FinancialGuaranteeInsuranceContractsPremiumExpectedToBeCollectedMoreThan15AndWithin20YearsFromBalanceSheetDate_3C781F39A075F326F83F578F42C96762" xlink:type="arc" />
    <link:label id="lab_us-gaap_FinancialGuaranteeInsuranceContractsPremiumExpectedToBeCollectedMoreThan20AndWithin25YearsFromBalanceSheetDate_BDC68815A06C7CB580A2578F42C9E230_terseLabel_en-US" xlink:label="lab_us-gaap_FinancialGuaranteeInsuranceContractsPremiumExpectedToBeCollectedMoreThan20AndWithin25YearsFromBalanceSheetDate_BDC68815A06C7CB580A2578F42C9E230" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Future premiums expected to be collected, December 31, 2039</link:label>
    <link:label id="lab_us-gaap_FinancialGuaranteeInsuranceContractsPremiumExpectedToBeCollectedMoreThan20AndWithin25YearsFromBalanceSheetDate_BDC68815A06C7CB580A2578F42C9E230_label_en-US" xlink:label="lab_us-gaap_FinancialGuaranteeInsuranceContractsPremiumExpectedToBeCollectedMoreThan20AndWithin25YearsFromBalanceSheetDate_BDC68815A06C7CB580A2578F42C9E230" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financial Guarantee Insurance Contracts, Premium Receivable, Premium Expected to be Collected, Year 21 Through 25</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FinancialGuaranteeInsuranceContractsPremiumExpectedToBeCollectedMoreThan20AndWithin25YearsFromBalanceSheetDate" xlink:label="loc_us-gaap_FinancialGuaranteeInsuranceContractsPremiumExpectedToBeCollectedMoreThan20AndWithin25YearsFromBalanceSheetDate_BDC68815A06C7CB580A2578F42C9E230" xlink:type="locator" />
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    <link:label id="lab_us-gaap_FinancialGuaranteeInsuranceContractsPremiumExpectedToBeCollectedMoreThan25AndWithin30YearsFromBalanceSheetDate_2307F6F726B1153D40C8578F42C98F52_label_en-US" xlink:label="lab_us-gaap_FinancialGuaranteeInsuranceContractsPremiumExpectedToBeCollectedMoreThan25AndWithin30YearsFromBalanceSheetDate_2307F6F726B1153D40C8578F42C98F52" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financial Guarantee Insurance Contracts, Premium Receivable, Premium Expected to be Collected, Year 26 Through 30</link:label>
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    <link:label id="lab_us-gaap_FinancialGuaranteeInsuranceContractsPremiumExpectedToBeCollectedMoreThan30AndWithin35YearsFromBalanceSheetDate_1AA3ED070AD59931AD34578F42C9B6D9_terseLabel_en-US" xlink:label="lab_us-gaap_FinancialGuaranteeInsuranceContractsPremiumExpectedToBeCollectedMoreThan30AndWithin35YearsFromBalanceSheetDate_1AA3ED070AD59931AD34578F42C9B6D9" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Future premiums expected to be collected, December 31, 2049</link:label>
    <link:label id="lab_us-gaap_FinancialGuaranteeInsuranceContractsPremiumExpectedToBeCollectedMoreThan30AndWithin35YearsFromBalanceSheetDate_1AA3ED070AD59931AD34578F42C9B6D9_label_en-US" xlink:label="lab_us-gaap_FinancialGuaranteeInsuranceContractsPremiumExpectedToBeCollectedMoreThan30AndWithin35YearsFromBalanceSheetDate_1AA3ED070AD59931AD34578F42C9B6D9" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financial Guarantee Insurance Contracts, Premium Receivable, Premium Expected to be Collected, Year 31 Through 35</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FinancialGuaranteeInsuranceContractsPremiumExpectedToBeCollectedMoreThan30AndWithin35YearsFromBalanceSheetDate" xlink:label="loc_us-gaap_FinancialGuaranteeInsuranceContractsPremiumExpectedToBeCollectedMoreThan30AndWithin35YearsFromBalanceSheetDate_1AA3ED070AD59931AD34578F42C9B6D9" xlink:type="locator" />
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    <link:label id="lab_us-gaap_FinancialGuaranteeInsuranceContractsPremiumExpectedToBeCollectedMoreThan35AndWithin40YearsFromBalanceSheetDate_E0A91B964F2364C007DB578F42C94C0C_label_en-US" xlink:label="lab_us-gaap_FinancialGuaranteeInsuranceContractsPremiumExpectedToBeCollectedMoreThan35AndWithin40YearsFromBalanceSheetDate_E0A91B964F2364C007DB578F42C94C0C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financial Guarantee Insurance Contracts, Premium Receivable, Premium Expected to be Collected, Year 36 Through 40</link:label>
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    <link:label id="lab_ambc_FinancialGuaranteeInsuranceContractsPremiumExpectedToBeCollectedMoreThanFortyAndWithinFortyFiveYearsFromBalanceSheetDate_25DDF748A7F0BC83784A578F42C9BF66_terseLabel_en-US" xlink:label="lab_ambc_FinancialGuaranteeInsuranceContractsPremiumExpectedToBeCollectedMoreThanFortyAndWithinFortyFiveYearsFromBalanceSheetDate_25DDF748A7F0BC83784A578F42C9BF66" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Future premiums expected to be collected, December 31, 2059</link:label>
    <link:label id="lab_ambc_FinancialGuaranteeInsuranceContractsPremiumExpectedToBeCollectedMoreThanFortyAndWithinFortyFiveYearsFromBalanceSheetDate_25DDF748A7F0BC83784A578F42C9BF66_label_en-US" xlink:label="lab_ambc_FinancialGuaranteeInsuranceContractsPremiumExpectedToBeCollectedMoreThanFortyAndWithinFortyFiveYearsFromBalanceSheetDate_25DDF748A7F0BC83784A578F42C9BF66" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financial Guarantee Insurance Contracts Premium Expected To Be Collected More Than Forty And Within Forty Five Years From Balance Sheet Date</link:label>
    <link:label id="lab_ambc_FinancialGuaranteeInsuranceContractsPremiumExpectedToBeCollectedMoreThanFortyAndWithinFortyFiveYearsFromBalanceSheetDate_25DDF748A7F0BC83784A578F42C9BF66_documentation_en-US" xlink:label="lab_ambc_FinancialGuaranteeInsuranceContractsPremiumExpectedToBeCollectedMoreThanFortyAndWithinFortyFiveYearsFromBalanceSheetDate_25DDF748A7F0BC83784A578F42C9BF66" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Amount of premium receivables under financial guarantee insurance contracts expected to be collected in the forty-first through the forty-fifth fiscal year following the latest fiscal year.</link:label>
    <link:loc xlink:href="ambc-20160331.xsd#ambc_FinancialGuaranteeInsuranceContractsPremiumExpectedToBeCollectedMoreThanFortyAndWithinFortyFiveYearsFromBalanceSheetDate" xlink:label="loc_ambc_FinancialGuaranteeInsuranceContractsPremiumExpectedToBeCollectedMoreThanFortyAndWithinFortyFiveYearsFromBalanceSheetDate_25DDF748A7F0BC83784A578F42C9BF66" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ambc_FinancialGuaranteeInsuranceContractsPremiumExpectedToBeCollectedMoreThanFortyAndWithinFortyFiveYearsFromBalanceSheetDate_25DDF748A7F0BC83784A578F42C9BF66" xlink:to="lab_ambc_FinancialGuaranteeInsuranceContractsPremiumExpectedToBeCollectedMoreThanFortyAndWithinFortyFiveYearsFromBalanceSheetDate_25DDF748A7F0BC83784A578F42C9BF66" xlink:type="arc" />
    <link:label id="lab_us-gaap_FinancialGuaranteeInsuranceContractsPremiumReceivablePremiumExpectedToBeCollected_6F52A527B5C1778BBDC4578F42C944D8_totalLabel_en-US" xlink:label="lab_us-gaap_FinancialGuaranteeInsuranceContractsPremiumReceivablePremiumExpectedToBeCollected_6F52A527B5C1778BBDC4578F42C944D8" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Future premiums expected to be collected, Total</link:label>
    <link:label id="lab_us-gaap_FinancialGuaranteeInsuranceContractsPremiumReceivablePremiumExpectedToBeCollected_6F52A527B5C1778BBDC4578F42C944D8_label_en-US" xlink:label="lab_us-gaap_FinancialGuaranteeInsuranceContractsPremiumReceivablePremiumExpectedToBeCollected_6F52A527B5C1778BBDC4578F42C944D8" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financial Guarantee Insurance Contracts, Premium Receivable, Premium Expected to be Collected</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FinancialGuaranteeInsuranceContractsPremiumReceivablePremiumExpectedToBeCollected" xlink:label="loc_us-gaap_FinancialGuaranteeInsuranceContractsPremiumReceivablePremiumExpectedToBeCollected_6F52A527B5C1778BBDC4578F42C944D8" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FinancialGuaranteeInsuranceContractsPremiumReceivablePremiumExpectedToBeCollected_6F52A527B5C1778BBDC4578F42C944D8" xlink:to="lab_us-gaap_FinancialGuaranteeInsuranceContractsPremiumReceivablePremiumExpectedToBeCollected_6F52A527B5C1778BBDC4578F42C944D8" xlink:type="arc" />
    <link:label id="lab_us-gaap_FinancialGuaranteeInsuranceContractsFutureExpectedPremiumRevenueToBeRecognizedDuringFirstQuarterFollowingBalanceSheetDate_9DD0EAAE6142C8735DFF578F42C987C6_terseLabel_en-US" xlink:label="lab_us-gaap_FinancialGuaranteeInsuranceContractsFutureExpectedPremiumRevenueToBeRecognizedDuringFirstQuarterFollowingBalanceSheetDate_9DD0EAAE6142C8735DFF578F42C987C6" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Future expected premium to be earned, net of reinsurance, March 31, 2015</link:label>
    <link:label id="lab_us-gaap_FinancialGuaranteeInsuranceContractsFutureExpectedPremiumRevenueToBeRecognizedDuringFirstQuarterFollowingBalanceSheetDate_9DD0EAAE6142C8735DFF578F42C987C6_label_en-US" xlink:label="lab_us-gaap_FinancialGuaranteeInsuranceContractsFutureExpectedPremiumRevenueToBeRecognizedDuringFirstQuarterFollowingBalanceSheetDate_9DD0EAAE6142C8735DFF578F42C987C6" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financial Guarantee Insurance Contracts, Future Expected Premium Revenue to be Recognized, Next Quarter</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FinancialGuaranteeInsuranceContractsFutureExpectedPremiumRevenueToBeRecognizedDuringFirstQuarterFollowingBalanceSheetDate" xlink:label="loc_us-gaap_FinancialGuaranteeInsuranceContractsFutureExpectedPremiumRevenueToBeRecognizedDuringFirstQuarterFollowingBalanceSheetDate_9DD0EAAE6142C8735DFF578F42C987C6" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FinancialGuaranteeInsuranceContractsFutureExpectedPremiumRevenueToBeRecognizedDuringFirstQuarterFollowingBalanceSheetDate_9DD0EAAE6142C8735DFF578F42C987C6" xlink:to="lab_us-gaap_FinancialGuaranteeInsuranceContractsFutureExpectedPremiumRevenueToBeRecognizedDuringFirstQuarterFollowingBalanceSheetDate_9DD0EAAE6142C8735DFF578F42C987C6" xlink:type="arc" />
    <link:label id="lab_us-gaap_FinancialGuaranteeInsuranceContractsFutureExpectedPremiumRevenueToBeRecognizedDuringSecondQuarterFollowingBalanceSheetDate_A62BC32A7FF16E0A4244578F42C989F5_terseLabel_en-US" xlink:label="lab_us-gaap_FinancialGuaranteeInsuranceContractsFutureExpectedPremiumRevenueToBeRecognizedDuringSecondQuarterFollowingBalanceSheetDate_A62BC32A7FF16E0A4244578F42C989F5" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Future expected premiums to be earned, net of reinsurance, June 30, 2015</link:label>
    <link:label id="lab_us-gaap_FinancialGuaranteeInsuranceContractsFutureExpectedPremiumRevenueToBeRecognizedDuringSecondQuarterFollowingBalanceSheetDate_A62BC32A7FF16E0A4244578F42C989F5_label_en-US" xlink:label="lab_us-gaap_FinancialGuaranteeInsuranceContractsFutureExpectedPremiumRevenueToBeRecognizedDuringSecondQuarterFollowingBalanceSheetDate_A62BC32A7FF16E0A4244578F42C989F5" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financial Guarantee Insurance Contracts, Future Expected Premium Revenue to be Recognized, Second Quarter</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FinancialGuaranteeInsuranceContractsFutureExpectedPremiumRevenueToBeRecognizedDuringSecondQuarterFollowingBalanceSheetDate" xlink:label="loc_us-gaap_FinancialGuaranteeInsuranceContractsFutureExpectedPremiumRevenueToBeRecognizedDuringSecondQuarterFollowingBalanceSheetDate_A62BC32A7FF16E0A4244578F42C989F5" xlink:type="locator" />
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    <link:label id="lab_us-gaap_FinancialGuaranteeInsuranceContractsFutureExpectedPremiumRevenueToBeRecognizedDuringThirdQuarterFollowingBalanceSheetDate_D82792408E7E2D5A6739578F42C910B8_terseLabel_en-US" xlink:label="lab_us-gaap_FinancialGuaranteeInsuranceContractsFutureExpectedPremiumRevenueToBeRecognizedDuringThirdQuarterFollowingBalanceSheetDate_D82792408E7E2D5A6739578F42C910B8" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Future expected premiums to be earned, net of reinsurance, September 30, 2015</link:label>
    <link:label id="lab_us-gaap_FinancialGuaranteeInsuranceContractsFutureExpectedPremiumRevenueToBeRecognizedDuringThirdQuarterFollowingBalanceSheetDate_D82792408E7E2D5A6739578F42C910B8_label_en-US" xlink:label="lab_us-gaap_FinancialGuaranteeInsuranceContractsFutureExpectedPremiumRevenueToBeRecognizedDuringThirdQuarterFollowingBalanceSheetDate_D82792408E7E2D5A6739578F42C910B8" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financial Guarantee Insurance Contracts, Future Expected Premium Revenue to be Recognized, Third Quarter</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FinancialGuaranteeInsuranceContractsFutureExpectedPremiumRevenueToBeRecognizedDuringThirdQuarterFollowingBalanceSheetDate" xlink:label="loc_us-gaap_FinancialGuaranteeInsuranceContractsFutureExpectedPremiumRevenueToBeRecognizedDuringThirdQuarterFollowingBalanceSheetDate_D82792408E7E2D5A6739578F42C910B8" xlink:type="locator" />
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    <link:label id="lab_us-gaap_FinancialGuaranteeInsuranceContractsFutureExpectedPremiumRevenueToBeRecognizedDuringFourthQuarterFollowingBalanceSheetDate_702BBFFAEBAE13858E51578F42C99FE4_terseLabel_en-US" xlink:label="lab_us-gaap_FinancialGuaranteeInsuranceContractsFutureExpectedPremiumRevenueToBeRecognizedDuringFourthQuarterFollowingBalanceSheetDate_702BBFFAEBAE13858E51578F42C99FE4" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Future expected premiums to be earned, net of reinsurance, December 31, 2015</link:label>
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    <link:label id="lab_us-gaap_FinancialGuaranteeInsuranceContractsFutureExpectedPremiumRevenueToBeRecognizedMoreThanOneAndWithinTwoYearsFromBalanceSheetDate_22DA6A7683BBB9359782578F42C9B4EC_terseLabel_en-US" xlink:label="lab_us-gaap_FinancialGuaranteeInsuranceContractsFutureExpectedPremiumRevenueToBeRecognizedMoreThanOneAndWithinTwoYearsFromBalanceSheetDate_22DA6A7683BBB9359782578F42C9B4EC" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Future expected premiums to be earned, net of reinsurance, December 31, 2016</link:label>
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    <link:label id="lab_us-gaap_FinancialGuaranteeInsuranceContractsFutureExpectedPremiumRevenueToBeRecognizedMoreThanFourAndWithinFiveYearsFromBalanceSheetDate_B970888726CA74DA8DC4578F42C9C15A_label_en-US" xlink:label="lab_us-gaap_FinancialGuaranteeInsuranceContractsFutureExpectedPremiumRevenueToBeRecognizedMoreThanFourAndWithinFiveYearsFromBalanceSheetDate_B970888726CA74DA8DC4578F42C9C15A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financial Guarantee Insurance Contracts, Future Expected Premium Revenue to be Recognized, Year Five</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FinancialGuaranteeInsuranceContractsFutureExpectedPremiumRevenueToBeRecognizedMoreThanFourAndWithinFiveYearsFromBalanceSheetDate" xlink:label="loc_us-gaap_FinancialGuaranteeInsuranceContractsFutureExpectedPremiumRevenueToBeRecognizedMoreThanFourAndWithinFiveYearsFromBalanceSheetDate_B970888726CA74DA8DC4578F42C9C15A" xlink:type="locator" />
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    <link:label id="lab_us-gaap_FinancialGuaranteeInsuranceContractsFutureExpectedPremiumRevenueToBeRecognizedMoreThanFiveAndWithin10YearsFromBalanceSheetDate_AC0A2BBF832B4BE54C36578F42C92D29_terseLabel_en-US" xlink:label="lab_us-gaap_FinancialGuaranteeInsuranceContractsFutureExpectedPremiumRevenueToBeRecognizedMoreThanFiveAndWithin10YearsFromBalanceSheetDate_AC0A2BBF832B4BE54C36578F42C92D29" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Future expected premiums to be earned, net of reinsurance, December 31, 2024</link:label>
    <link:label id="lab_us-gaap_FinancialGuaranteeInsuranceContractsFutureExpectedPremiumRevenueToBeRecognizedMoreThanFiveAndWithin10YearsFromBalanceSheetDate_AC0A2BBF832B4BE54C36578F42C92D29_label_en-US" xlink:label="lab_us-gaap_FinancialGuaranteeInsuranceContractsFutureExpectedPremiumRevenueToBeRecognizedMoreThanFiveAndWithin10YearsFromBalanceSheetDate_AC0A2BBF832B4BE54C36578F42C92D29" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financial Guarantee Insurance Contracts, Future Expected Premium Revenue to be Recognized, Year Six Through Ten</link:label>
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    <link:label id="lab_us-gaap_FinancialGuaranteeInsuranceContractsFutureExpectedPremiumRevenueToBeRecognizedMoreThan10AndWithin15YearsFromBalanceSheetDate_60BFF7369F1056227580578F42C9F4D7_terseLabel_en-US" xlink:label="lab_us-gaap_FinancialGuaranteeInsuranceContractsFutureExpectedPremiumRevenueToBeRecognizedMoreThan10AndWithin15YearsFromBalanceSheetDate_60BFF7369F1056227580578F42C9F4D7" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Future expected premiums to be earned, net of reinsurance, December 31, 2029</link:label>
    <link:label id="lab_us-gaap_FinancialGuaranteeInsuranceContractsFutureExpectedPremiumRevenueToBeRecognizedMoreThan10AndWithin15YearsFromBalanceSheetDate_60BFF7369F1056227580578F42C9F4D7_label_en-US" xlink:label="lab_us-gaap_FinancialGuaranteeInsuranceContractsFutureExpectedPremiumRevenueToBeRecognizedMoreThan10AndWithin15YearsFromBalanceSheetDate_60BFF7369F1056227580578F42C9F4D7" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financial Guarantee Insurance Contracts, Future Expected Premium Revenue to be Recognized, Year 11 Through 15</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FinancialGuaranteeInsuranceContractsFutureExpectedPremiumRevenueToBeRecognizedMoreThan10AndWithin15YearsFromBalanceSheetDate" xlink:label="loc_us-gaap_FinancialGuaranteeInsuranceContractsFutureExpectedPremiumRevenueToBeRecognizedMoreThan10AndWithin15YearsFromBalanceSheetDate_60BFF7369F1056227580578F42C9F4D7" xlink:type="locator" />
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    <link:label id="lab_us-gaap_FinancialGuaranteeInsuranceContractsFutureExpectedPremiumRevenueToBeRecognizedMoreThan15AndWithin20YearsFromBalanceSheetDate_FEBD9C5DD59DF76ECA9F578F42C93DF6_terseLabel_en-US" xlink:label="lab_us-gaap_FinancialGuaranteeInsuranceContractsFutureExpectedPremiumRevenueToBeRecognizedMoreThan15AndWithin20YearsFromBalanceSheetDate_FEBD9C5DD59DF76ECA9F578F42C93DF6" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Future expected premiums to be earned, net of reinsurance, December 31, 2034</link:label>
    <link:label id="lab_us-gaap_FinancialGuaranteeInsuranceContractsFutureExpectedPremiumRevenueToBeRecognizedMoreThan15AndWithin20YearsFromBalanceSheetDate_FEBD9C5DD59DF76ECA9F578F42C93DF6_label_en-US" xlink:label="lab_us-gaap_FinancialGuaranteeInsuranceContractsFutureExpectedPremiumRevenueToBeRecognizedMoreThan15AndWithin20YearsFromBalanceSheetDate_FEBD9C5DD59DF76ECA9F578F42C93DF6" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financial Guarantee Insurance Contracts, Future Expected Premium Revenue to be Recognized, Year 16 Through 20</link:label>
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    <link:label id="lab_us-gaap_FinancialGuaranteeInsuranceContractsFutureExpectedPremiumRevenueToBeRecognizedMoreThan20AndWithin25YearsFromBalanceSheetDate_D52E710A16CEA6A53485578F42D91E11_terseLabel_en-US" xlink:label="lab_us-gaap_FinancialGuaranteeInsuranceContractsFutureExpectedPremiumRevenueToBeRecognizedMoreThan20AndWithin25YearsFromBalanceSheetDate_D52E710A16CEA6A53485578F42D91E11" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Future expected premiums to be earned, net of reinsurance, December 31, 2039</link:label>
    <link:label id="lab_us-gaap_FinancialGuaranteeInsuranceContractsFutureExpectedPremiumRevenueToBeRecognizedMoreThan20AndWithin25YearsFromBalanceSheetDate_D52E710A16CEA6A53485578F42D91E11_label_en-US" xlink:label="lab_us-gaap_FinancialGuaranteeInsuranceContractsFutureExpectedPremiumRevenueToBeRecognizedMoreThan20AndWithin25YearsFromBalanceSheetDate_D52E710A16CEA6A53485578F42D91E11" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financial Guarantee Insurance Contracts, Future Expected Premium Revenue to be Recognized, Year 21 Through 25</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FinancialGuaranteeInsuranceContractsFutureExpectedPremiumRevenueToBeRecognizedMoreThan20AndWithin25YearsFromBalanceSheetDate" xlink:label="loc_us-gaap_FinancialGuaranteeInsuranceContractsFutureExpectedPremiumRevenueToBeRecognizedMoreThan20AndWithin25YearsFromBalanceSheetDate_D52E710A16CEA6A53485578F42D91E11" xlink:type="locator" />
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    <link:label id="lab_us-gaap_FinancialGuaranteeInsuranceContractsFutureExpectedPremiumRevenueToBeRecognizedMoreThan25AndWithin30YearsFromBalanceSheetDate_8B6068B46BE9FE71B14B578F42D969D3_terseLabel_en-US" xlink:label="lab_us-gaap_FinancialGuaranteeInsuranceContractsFutureExpectedPremiumRevenueToBeRecognizedMoreThan25AndWithin30YearsFromBalanceSheetDate_8B6068B46BE9FE71B14B578F42D969D3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Future expected premiums to be earned, net of reinsurance, December 31, 2044</link:label>
    <link:label id="lab_us-gaap_FinancialGuaranteeInsuranceContractsFutureExpectedPremiumRevenueToBeRecognizedMoreThan25AndWithin30YearsFromBalanceSheetDate_8B6068B46BE9FE71B14B578F42D969D3_label_en-US" xlink:label="lab_us-gaap_FinancialGuaranteeInsuranceContractsFutureExpectedPremiumRevenueToBeRecognizedMoreThan25AndWithin30YearsFromBalanceSheetDate_8B6068B46BE9FE71B14B578F42D969D3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financial Guarantee Insurance Contracts, Future Expected Premium Revenue to be Recognized, Year 26 Through 30</link:label>
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    <link:label id="lab_us-gaap_FinancialGuaranteeInsuranceContractsFutureExpectedPremiumRevenueToBeRecognizedMoreThan30AndWithin35YearsFromBalanceSheetDate_5CCFB3962433572D37B8578F42D96116_terseLabel_en-US" xlink:label="lab_us-gaap_FinancialGuaranteeInsuranceContractsFutureExpectedPremiumRevenueToBeRecognizedMoreThan30AndWithin35YearsFromBalanceSheetDate_5CCFB3962433572D37B8578F42D96116" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Future expected premiums to be earned, net of reinsurance, December 31, 2049</link:label>
    <link:label id="lab_us-gaap_FinancialGuaranteeInsuranceContractsFutureExpectedPremiumRevenueToBeRecognizedMoreThan30AndWithin35YearsFromBalanceSheetDate_5CCFB3962433572D37B8578F42D96116_label_en-US" xlink:label="lab_us-gaap_FinancialGuaranteeInsuranceContractsFutureExpectedPremiumRevenueToBeRecognizedMoreThan30AndWithin35YearsFromBalanceSheetDate_5CCFB3962433572D37B8578F42D96116" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financial Guarantee Insurance Contracts, Future Expected Premium Revenue to be Recognized, Year 31 Through 35</link:label>
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    <link:label id="lab_us-gaap_FinancialGuaranteeInsuranceContractsFutureExpectedPremiumRevenueToBeRecognizedMoreThan35AndWithin40YearsFromBalanceSheetDate_727D7DC00CBADF9FE659578F42D99287_label_en-US" xlink:label="lab_us-gaap_FinancialGuaranteeInsuranceContractsFutureExpectedPremiumRevenueToBeRecognizedMoreThan35AndWithin40YearsFromBalanceSheetDate_727D7DC00CBADF9FE659578F42D99287" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financial Guarantee Insurance Contracts, Future Expected Premium Revenue to be Recognized, Year 36 Through 40</link:label>
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    <link:label id="lab_ambc_FinancialGuaranteeInsuranceContractsFutureExpectedPremiumRevenueToBeRecognizedMoreThanFortyAndWithinFortyFiveYearsFromBalanceSheetDate_6A1E8D143205A5D48463578F42D90045_label_en-US" xlink:label="lab_ambc_FinancialGuaranteeInsuranceContractsFutureExpectedPremiumRevenueToBeRecognizedMoreThanFortyAndWithinFortyFiveYearsFromBalanceSheetDate_6A1E8D143205A5D48463578F42D90045" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financial Guarantee Insurance Contracts Future Expected Premium Revenue To Be Recognized More Than Forty And Within Forty Five Years From Balance Sheet Date</link:label>
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    <link:loc xlink:href="ambc-20160331.xsd#ambc_LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseChangeInPreviouslyEstablishedLossReservesPriorYears" xlink:label="loc_ambc_LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseChangeInPreviouslyEstablishedLossReservesPriorYears_F72364CEE22302473D36E1E442733D77" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ambc_LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseChangeInPreviouslyEstablishedLossReservesPriorYears_F72364CEE22302473D36E1E442733D77" xlink:to="lab_ambc_LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseChangeInPreviouslyEstablishedLossReservesPriorYears_F72364CEE22302473D36E1E442733D77" xlink:type="arc" />
    <link:label id="lab_us-gaap_LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseClaimsPaidPriorYears1_5770F1930A004A3E44DEE1E4427336C8_negatedLabel_en-US" xlink:label="lab_us-gaap_LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseClaimsPaidPriorYears1_5770F1930A004A3E44DEE1E4427336C8" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Claim and loss expense (payments) recoveries, net of subrogation and reinsurance</link:label>
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    <link:label id="lab_ambc_LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseChangeInEstablishedSubrogationRecoveriesPriorYears_BCC5406ACE3050720872E1E44273CAC9_negatedLabel_en-US" xlink:label="lab_ambc_LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseChangeInEstablishedSubrogationRecoveriesPriorYears_BCC5406ACE3050720872E1E44273CAC9" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Change in previously established RMBS subrogation recoveries, net of reinsurance</link:label>
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    <link:label id="lab_ambc_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetOrLiabilitySettlements_88838FA09A1F9CCC3B3DD379E78A3560_label_en-US" xlink:label="lab_ambc_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetOrLiabilitySettlements_88838FA09A1F9CCC3B3DD379E78A3560" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Or Liability Settlements</link:label>
    <link:label id="lab_ambc_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetOrLiabilitySettlements_88838FA09A1F9CCC3B3DD379E78A3560_documentation_en-US" xlink:label="lab_ambc_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetOrLiabilitySettlements_88838FA09A1F9CCC3B3DD379E78A3560" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Amount of settlements related to financial instruments measured on a recurring basis using unobservable inputs.</link:label>
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    <link:label id="lab_ambc_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetOrLiabilityTransfersIntoLevelThree_2492429CD23B2B0F9D26D379E78A8386_label_en-US" xlink:label="lab_ambc_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetOrLiabilityTransfersIntoLevelThree_2492429CD23B2B0F9D26D379E78A8386" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Or Liability Transfers Into Level Three</link:label>
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    <link:label id="lab_ambc_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetOrLiabilityTransfersOutOfLevelThree_6625A2F765D398DB19A1D379E78A8B58_label_en-US" xlink:label="lab_ambc_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetOrLiabilityTransfersOutOfLevelThree_6625A2F765D398DB19A1D379E78A8B58" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Or Liability Transfers Out Of Level Three</link:label>
    <link:label id="lab_ambc_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetOrLiabilityTransfersOutOfLevelThree_6625A2F765D398DB19A1D379E78A8B58_documentation_en-US" xlink:label="lab_ambc_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetOrLiabilityTransfersOutOfLevelThree_6625A2F765D398DB19A1D379E78A8B58" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Amount of change in fair value of financial instruments measured on a recurring basis using unobservable inputs arising from transfers out of level 3 of the fair value hierarchy.</link:label>
    <link:loc xlink:href="ambc-20160331.xsd#ambc_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetOrLiabilityTransfersOutOfLevelThree" xlink:label="loc_ambc_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetOrLiabilityTransfersOutOfLevelThree_6625A2F765D398DB19A1D379E78A8B58" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ambc_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetOrLiabilityTransfersOutOfLevelThree_6625A2F765D398DB19A1D379E78A8B58" xlink:to="lab_ambc_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetOrLiabilityTransfersOutOfLevelThree_6625A2F765D398DB19A1D379E78A8B58" xlink:type="arc" />
    <link:label id="lab_ambc_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetOrLiabilityDeconsolidationOfVies_94CF534752590E0B5E0AD379E78A255B_negatedLabel_en-US" xlink:label="lab_ambc_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetOrLiabilityDeconsolidationOfVies_94CF534752590E0B5E0AD379E78A255B" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Deconsolidation of VIEs</link:label>
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    <link:label id="lab_ambc_NonCreditOtherThanTemporaryImpairmentsOnInvestments_25CE79DA2CD7DE15495B578F4549CAA0_terseLabel_en-US" xlink:label="lab_ambc_NonCreditOtherThanTemporaryImpairmentsOnInvestments_25CE79DA2CD7DE15495B578F4549CAA0" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Non - credit other - than - temporary Impairments</link:label>
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    <link:label id="lab_ambc_NonCreditOtherThanTemporaryImpairmentsOnInvestments_25CE79DA2CD7DE15495B578F4549CAA0_documentation_en-US" xlink:label="lab_ambc_NonCreditOtherThanTemporaryImpairmentsOnInvestments_25CE79DA2CD7DE15495B578F4549CAA0" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Non credit other than temporary impairments on investments.</link:label>
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    <link:label id="lab_ambc_OtherConsumerAssetBackedMember_9077C014EB5E82BFCDEB578F4EDAA801_terseLabel_en-US" xlink:label="lab_ambc_OtherConsumerAssetBackedMember_9077C014EB5E82BFCDEB578F4EDAA801" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other Consumer Asset-Backed [Member]</link:label>
    <link:label id="lab_ambc_OtherConsumerAssetBackedMember_9077C014EB5E82BFCDEB578F4EDAA801_label_en-US" xlink:label="lab_ambc_OtherConsumerAssetBackedMember_9077C014EB5E82BFCDEB578F4EDAA801" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Consumer Asset Backed [Member]</link:label>
    <link:label id="lab_ambc_OtherConsumerAssetBackedMember_9077C014EB5E82BFCDEB578F4EDAA801_documentation_en-US" xlink:label="lab_ambc_OtherConsumerAssetBackedMember_9077C014EB5E82BFCDEB578F4EDAA801" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Other consumer asset-backed.</link:label>
    <link:loc xlink:href="ambc-20160331.xsd#ambc_OtherConsumerAssetBackedMember" xlink:label="loc_ambc_OtherConsumerAssetBackedMember_9077C014EB5E82BFCDEB578F4EDAA801" xlink:type="locator" />
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    <link:label id="lab_ambc_OtherCommercialAssetBackedMember_4C80FAA6BB37B7C89C6A578F4EDA3F89_terseLabel_en-US" xlink:label="lab_ambc_OtherCommercialAssetBackedMember_4C80FAA6BB37B7C89C6A578F4EDA3F89" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other Commercial Asset-Backed [Member]</link:label>
    <link:label id="lab_ambc_OtherCommercialAssetBackedMember_4C80FAA6BB37B7C89C6A578F4EDA3F89_label_en-US" xlink:label="lab_ambc_OtherCommercialAssetBackedMember_4C80FAA6BB37B7C89C6A578F4EDA3F89" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Commercial Asset Backed [Member]</link:label>
    <link:label id="lab_ambc_OtherCommercialAssetBackedMember_4C80FAA6BB37B7C89C6A578F4EDA3F89_documentation_en-US" xlink:label="lab_ambc_OtherCommercialAssetBackedMember_4C80FAA6BB37B7C89C6A578F4EDA3F89" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Other commercial asset.</link:label>
    <link:loc xlink:href="ambc-20160331.xsd#ambc_OtherCommercialAssetBackedMember" xlink:label="loc_ambc_OtherCommercialAssetBackedMember_4C80FAA6BB37B7C89C6A578F4EDA3F89" xlink:type="locator" />
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    <link:label id="lab_ambc_GlobalStructuredFinanceMember_9A7F58DDC281BC9C87F4578F4EDA989C_terseLabel_en-US" xlink:label="lab_ambc_GlobalStructuredFinanceMember_9A7F58DDC281BC9C87F4578F4EDA989C" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Global Structured Finance [Member]</link:label>
    <link:label id="lab_ambc_GlobalStructuredFinanceMember_9A7F58DDC281BC9C87F4578F4EDA989C_label_en-US" xlink:label="lab_ambc_GlobalStructuredFinanceMember_9A7F58DDC281BC9C87F4578F4EDA989C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Global Structured Finance [Member]</link:label>
    <link:label id="lab_ambc_GlobalStructuredFinanceMember_9A7F58DDC281BC9C87F4578F4EDA989C_documentation_en-US" xlink:label="lab_ambc_GlobalStructuredFinanceMember_9A7F58DDC281BC9C87F4578F4EDA989C" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Global structured finance.</link:label>
    <link:loc xlink:href="ambc-20160331.xsd#ambc_GlobalStructuredFinanceMember" xlink:label="loc_ambc_GlobalStructuredFinanceMember_9A7F58DDC281BC9C87F4578F4EDA989C" xlink:type="locator" />
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    <link:label id="lab_ambc_GlobalPublicFinanceMember_7A2165EA7D8ED2002457578F4EDA6751_terseLabel_en-US" xlink:label="lab_ambc_GlobalPublicFinanceMember_7A2165EA7D8ED2002457578F4EDA6751" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Global Public Finance [Member]</link:label>
    <link:label id="lab_ambc_GlobalPublicFinanceMember_7A2165EA7D8ED2002457578F4EDA6751_label_en-US" xlink:label="lab_ambc_GlobalPublicFinanceMember_7A2165EA7D8ED2002457578F4EDA6751" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Global Public Finance [Member]</link:label>
    <link:label id="lab_ambc_GlobalPublicFinanceMember_7A2165EA7D8ED2002457578F4EDA6751_documentation_en-US" xlink:label="lab_ambc_GlobalPublicFinanceMember_7A2165EA7D8ED2002457578F4EDA6751" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Global public finance.</link:label>
    <link:loc xlink:href="ambc-20160331.xsd#ambc_GlobalPublicFinanceMember" xlink:label="loc_ambc_GlobalPublicFinanceMember_7A2165EA7D8ED2002457578F4EDA6751" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ambc_GlobalPublicFinanceMember_7A2165EA7D8ED2002457578F4EDA6751" xlink:to="lab_ambc_GlobalPublicFinanceMember_7A2165EA7D8ED2002457578F4EDA6751" xlink:type="arc" />
    <link:label id="lab_us-gaap_VariableInterestEntityEntityMaximumLossExposureAmount_B3EC5005C13CFD1ED0D6578F4EDAAC6D_terseLabel_en-US" xlink:label="lab_us-gaap_VariableInterestEntityEntityMaximumLossExposureAmount_B3EC5005C13CFD1ED0D6578F4EDAAC6D" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Maximum Exposure To Loss</link:label>
    <link:label id="lab_us-gaap_VariableInterestEntityEntityMaximumLossExposureAmount_B3EC5005C13CFD1ED0D6578F4EDAAC6D_label_en-US" xlink:label="lab_us-gaap_VariableInterestEntityEntityMaximumLossExposureAmount_B3EC5005C13CFD1ED0D6578F4EDAAC6D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Variable Interest Entity, Reporting Entity Involvement, Maximum Loss Exposure, Amount</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_VariableInterestEntityEntityMaximumLossExposureAmount" xlink:label="loc_us-gaap_VariableInterestEntityEntityMaximumLossExposureAmount_B3EC5005C13CFD1ED0D6578F4EDAAC6D" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_VariableInterestEntityEntityMaximumLossExposureAmount_B3EC5005C13CFD1ED0D6578F4EDAAC6D" xlink:to="lab_us-gaap_VariableInterestEntityEntityMaximumLossExposureAmount_B3EC5005C13CFD1ED0D6578F4EDAAC6D" xlink:type="arc" />
    <link:label id="lab_ambc_VariableInterestEntityNonconsolidatedCarryingAmountInsuranceAssets_4C86A0C061B32014BDE3578F4EDAE7AF_terseLabel_en-US" xlink:label="lab_ambc_VariableInterestEntityNonconsolidatedCarryingAmountInsuranceAssets_4C86A0C061B32014BDE3578F4EDAE7AF" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Insurance Assets</link:label>
    <link:label id="lab_ambc_VariableInterestEntityNonconsolidatedCarryingAmountInsuranceAssets_4C86A0C061B32014BDE3578F4EDAE7AF_label_en-US" xlink:label="lab_ambc_VariableInterestEntityNonconsolidatedCarryingAmountInsuranceAssets_4C86A0C061B32014BDE3578F4EDAE7AF" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Variable Interest Entity Nonconsolidated Carrying Amount Insurance Assets</link:label>
    <link:label id="lab_ambc_VariableInterestEntityNonconsolidatedCarryingAmountInsuranceAssets_4C86A0C061B32014BDE3578F4EDAE7AF_documentation_en-US" xlink:label="lab_ambc_VariableInterestEntityNonconsolidatedCarryingAmountInsuranceAssets_4C86A0C061B32014BDE3578F4EDAE7AF" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The carrying amount of insurance assets in the reporting entity's statement of financial position that relate to the entity's variable interests in Variable Interest Entities (VIEs) where the VIEs are not consolidated.</link:label>
    <link:loc xlink:href="ambc-20160331.xsd#ambc_VariableInterestEntityNonconsolidatedCarryingAmountInsuranceAssets" xlink:label="loc_ambc_VariableInterestEntityNonconsolidatedCarryingAmountInsuranceAssets_4C86A0C061B32014BDE3578F4EDAE7AF" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ambc_VariableInterestEntityNonconsolidatedCarryingAmountInsuranceAssets_4C86A0C061B32014BDE3578F4EDAE7AF" xlink:to="lab_ambc_VariableInterestEntityNonconsolidatedCarryingAmountInsuranceAssets_4C86A0C061B32014BDE3578F4EDAE7AF" xlink:type="arc" />
    <link:label id="lab_ambc_VariableInterestEntityNonconsolidatedCarryingAmountInsuranceLiabilities_6333F3872C61718276A5578F4EDA781B_terseLabel_en-US" xlink:label="lab_ambc_VariableInterestEntityNonconsolidatedCarryingAmountInsuranceLiabilities_6333F3872C61718276A5578F4EDA781B" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Insurance Liabilities</link:label>
    <link:label id="lab_ambc_VariableInterestEntityNonconsolidatedCarryingAmountInsuranceLiabilities_6333F3872C61718276A5578F4EDA781B_label_en-US" xlink:label="lab_ambc_VariableInterestEntityNonconsolidatedCarryingAmountInsuranceLiabilities_6333F3872C61718276A5578F4EDA781B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Variable Interest Entity Nonconsolidated Carrying Amount Insurance Liabilities</link:label>
    <link:label id="lab_ambc_VariableInterestEntityNonconsolidatedCarryingAmountInsuranceLiabilities_6333F3872C61718276A5578F4EDA781B_documentation_en-US" xlink:label="lab_ambc_VariableInterestEntityNonconsolidatedCarryingAmountInsuranceLiabilities_6333F3872C61718276A5578F4EDA781B" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The carrying amount of insurance liabilities in the reporting entity's statement of financial position that relate to the entity's variable interests in Variable Interest Entities (VIEs) where the VIEs are not consolidated.</link:label>
    <link:loc xlink:href="ambc-20160331.xsd#ambc_VariableInterestEntityNonconsolidatedCarryingAmountInsuranceLiabilities" xlink:label="loc_ambc_VariableInterestEntityNonconsolidatedCarryingAmountInsuranceLiabilities_6333F3872C61718276A5578F4EDA781B" xlink:type="locator" />
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    <link:label id="lab_ambc_VariableInterestEntityNonconsolidatedCarryingAmountDerivativeNetAssetsOrLiabilities_DC5DBF19301B3015B3D6578F4EDA1C63_terseLabel_en-US" xlink:label="lab_ambc_VariableInterestEntityNonconsolidatedCarryingAmountDerivativeNetAssetsOrLiabilities_DC5DBF19301B3015B3D6578F4EDA1C63" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Derivative Liabilities</link:label>
    <link:label id="lab_ambc_VariableInterestEntityNonconsolidatedCarryingAmountDerivativeNetAssetsOrLiabilities_DC5DBF19301B3015B3D6578F4EDA1C63_label_en-US" xlink:label="lab_ambc_VariableInterestEntityNonconsolidatedCarryingAmountDerivativeNetAssetsOrLiabilities_DC5DBF19301B3015B3D6578F4EDA1C63" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Variable Interest Entity Nonconsolidated Carrying Amount Derivative Net Assets Or Liabilities</link:label>
    <link:label id="lab_ambc_VariableInterestEntityNonconsolidatedCarryingAmountDerivativeNetAssetsOrLiabilities_DC5DBF19301B3015B3D6578F4EDA1C63_documentation_en-US" xlink:label="lab_ambc_VariableInterestEntityNonconsolidatedCarryingAmountDerivativeNetAssetsOrLiabilities_DC5DBF19301B3015B3D6578F4EDA1C63" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The net carrying amount of derivative assets or liabilities in the reporting entity's statement of financial position that relate to the entity's variable interests in Variable Interest Entities (VIEs) where the VIEs are not consolidated.</link:label>
    <link:loc xlink:href="ambc-20160331.xsd#ambc_VariableInterestEntityNonconsolidatedCarryingAmountDerivativeNetAssetsOrLiabilities" xlink:label="loc_ambc_VariableInterestEntityNonconsolidatedCarryingAmountDerivativeNetAssetsOrLiabilities_DC5DBF19301B3015B3D6578F4EDA1C63" xlink:type="locator" />
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    <link:label id="lab_us-gaap_IncomeTaxContingencyTable_49DFE73898E218F725F6578F4FD4CA37_terseLabel_en-US" xlink:label="lab_us-gaap_IncomeTaxContingencyTable_49DFE73898E218F725F6578F4FD4CA37" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Income Tax Contingency [Table]</link:label>
    <link:label id="lab_us-gaap_IncomeTaxContingencyTable_49DFE73898E218F725F6578F4FD4CA37_label_en-US" xlink:label="lab_us-gaap_IncomeTaxContingencyTable_49DFE73898E218F725F6578F4FD4CA37" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Income Tax Contingency [Table]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncomeTaxContingencyTable" xlink:label="loc_us-gaap_IncomeTaxContingencyTable_49DFE73898E218F725F6578F4FD4CA37" xlink:type="locator" />
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    <link:label id="lab_stpr_NY_3CEA67DFEB5BE2E25FF1578F4FD419D9_verboseLabel_en-US" xlink:label="lab_stpr_NY_3CEA67DFEB5BE2E25FF1578F4FD419D9" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">New York State [Member]</link:label>
    <link:label id="lab_stpr_NY_3CEA67DFEB5BE2E25FF1578F4FD419D9_label_en-US" xlink:label="lab_stpr_NY_3CEA67DFEB5BE2E25FF1578F4FD419D9" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">NEW YORK</link:label>
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    <link:label id="lab_ambc_NewYorkCityMember_9294AB32736E14AD881A578F4FD40E0C_terseLabel_en-US" xlink:label="lab_ambc_NewYorkCityMember_9294AB32736E14AD881A578F4FD40E0C" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">New York City [Member]</link:label>
    <link:label id="lab_ambc_NewYorkCityMember_9294AB32736E14AD881A578F4FD40E0C_label_en-US" xlink:label="lab_ambc_NewYorkCityMember_9294AB32736E14AD881A578F4FD40E0C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">New York City [Member]</link:label>
    <link:label id="lab_ambc_NewYorkCityMember_9294AB32736E14AD881A578F4FD40E0C_documentation_en-US" xlink:label="lab_ambc_NewYorkCityMember_9294AB32736E14AD881A578F4FD40E0C" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">New York city.</link:label>
    <link:loc xlink:href="ambc-20160331.xsd#ambc_NewYorkCityMember" xlink:label="loc_ambc_NewYorkCityMember_9294AB32736E14AD881A578F4FD40E0C" xlink:type="locator" />
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    <link:label id="lab_country_IT_683E05882E8D33C98058578F4FD4D533_terseLabel_en-US" xlink:label="lab_country_IT_683E05882E8D33C98058578F4FD4D533" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Italy [Member]</link:label>
    <link:label id="lab_country_IT_683E05882E8D33C98058578F4FD4D533_label_en-US" xlink:label="lab_country_IT_683E05882E8D33C98058578F4FD4D533" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ITALY</link:label>
    <link:loc xlink:href="http://xbrl.sec.gov/country/2013/country-2013-01-31.xsd#country_IT" xlink:label="loc_country_IT_683E05882E8D33C98058578F4FD4D533" xlink:type="locator" />
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    <link:label id="lab_us-gaap_SecuredDebt_7E2BD24B9DD1F3E8CBE6863C60C48C41_terseLabel_en-US" xlink:label="lab_us-gaap_SecuredDebt_7E2BD24B9DD1F3E8CBE6863C60C48C41" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Secured Debt</link:label>
    <link:label id="lab_us-gaap_SecuredDebt_7E2BD24B9DD1F3E8CBE6863C60C48C41_label_en-US" xlink:label="lab_us-gaap_SecuredDebt_7E2BD24B9DD1F3E8CBE6863C60C48C41" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Secured Debt</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_SecuredDebt" xlink:label="loc_us-gaap_SecuredDebt_7E2BD24B9DD1F3E8CBE6863C60C48C41" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SecuredDebt_7E2BD24B9DD1F3E8CBE6863C60C48C41" xlink:to="lab_us-gaap_SecuredDebt_7E2BD24B9DD1F3E8CBE6863C60C48C41" xlink:type="arc" />
    <link:label id="lab_ambc_ParValueofSecuritiesPlacedinTrust_08144E790230E744B44B863C60C4EF2A_terseLabel_en-US" xlink:label="lab_ambc_ParValueofSecuritiesPlacedinTrust_08144E790230E744B44B863C60C4EF2A" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Par Value of Securities Placed in Trust</link:label>
    <link:label id="lab_ambc_ParValueofSecuritiesPlacedinTrust_08144E790230E744B44B863C60C4EF2A_label_en-US" xlink:label="lab_ambc_ParValueofSecuritiesPlacedinTrust_08144E790230E744B44B863C60C4EF2A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Par Value of Securities Placed in Trust</link:label>
    <link:label id="lab_ambc_ParValueofSecuritiesPlacedinTrust_08144E790230E744B44B863C60C4EF2A_documentation_en-US" xlink:label="lab_ambc_ParValueofSecuritiesPlacedinTrust_08144E790230E744B44B863C60C4EF2A" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Par Value of Securities Placed in Trust</link:label>
    <link:loc xlink:href="ambc-20160331.xsd#ambc_ParValueofSecuritiesPlacedinTrust" xlink:label="loc_ambc_ParValueofSecuritiesPlacedinTrust_08144E790230E744B44B863C60C4EF2A" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ambc_ParValueofSecuritiesPlacedinTrust_08144E790230E744B44B863C60C4EF2A" xlink:to="lab_ambc_ParValueofSecuritiesPlacedinTrust_08144E790230E744B44B863C60C4EF2A" xlink:type="arc" />
    <link:label id="lab_ambc_SecuritiesIssuedbyDelawareTrust_2CAD8EECB93FFD3AF24B863C60C41ECF_terseLabel_en-US" xlink:label="lab_ambc_SecuritiesIssuedbyDelawareTrust_2CAD8EECB93FFD3AF24B863C60C41ECF" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Securities Issued by Delaware Trust</link:label>
    <link:label id="lab_ambc_SecuritiesIssuedbyDelawareTrust_2CAD8EECB93FFD3AF24B863C60C41ECF_label_en-US" xlink:label="lab_ambc_SecuritiesIssuedbyDelawareTrust_2CAD8EECB93FFD3AF24B863C60C41ECF" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Securities Issued by Delaware Trust</link:label>
    <link:label id="lab_ambc_SecuritiesIssuedbyDelawareTrust_2CAD8EECB93FFD3AF24B863C60C41ECF_documentation_en-US" xlink:label="lab_ambc_SecuritiesIssuedbyDelawareTrust_2CAD8EECB93FFD3AF24B863C60C41ECF" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Securities Issued by Delaware Trust</link:label>
    <link:loc xlink:href="ambc-20160331.xsd#ambc_SecuritiesIssuedbyDelawareTrust" xlink:label="loc_ambc_SecuritiesIssuedbyDelawareTrust_2CAD8EECB93FFD3AF24B863C60C41ECF" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ambc_SecuritiesIssuedbyDelawareTrust_2CAD8EECB93FFD3AF24B863C60C41ECF" xlink:to="lab_ambc_SecuritiesIssuedbyDelawareTrust_2CAD8EECB93FFD3AF24B863C60C41ECF" xlink:type="arc" />
    <link:label id="lab_ambc_InterestRateonSecuritiesIssuedbyDelawareTrust_FBDF26C47339F0B0B322863C60C4861B_terseLabel_en-US" xlink:label="lab_ambc_InterestRateonSecuritiesIssuedbyDelawareTrust_FBDF26C47339F0B0B322863C60C4861B" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Interest Rate on Securities Issued by Delaware Trust</link:label>
    <link:label id="lab_ambc_InterestRateonSecuritiesIssuedbyDelawareTrust_FBDF26C47339F0B0B322863C60C4861B_label_en-US" xlink:label="lab_ambc_InterestRateonSecuritiesIssuedbyDelawareTrust_FBDF26C47339F0B0B322863C60C4861B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Interest Rate on Securities Issued by Delaware Trust</link:label>
    <link:label id="lab_ambc_InterestRateonSecuritiesIssuedbyDelawareTrust_FBDF26C47339F0B0B322863C60C4861B_documentation_en-US" xlink:label="lab_ambc_InterestRateonSecuritiesIssuedbyDelawareTrust_FBDF26C47339F0B0B322863C60C4861B" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Interest Rate on Securities Issued by Delaware Trust</link:label>
    <link:loc xlink:href="ambc-20160331.xsd#ambc_InterestRateonSecuritiesIssuedbyDelawareTrust" xlink:label="loc_ambc_InterestRateonSecuritiesIssuedbyDelawareTrust_FBDF26C47339F0B0B322863C60C4861B" xlink:type="locator" />
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    <link:label id="lab_us-gaap_EquityMethodInvestmentsFairValueDisclosure_BB1AB0FEE1CAD2D1F8A7863C60C43805_terseLabel_en-US" xlink:label="lab_us-gaap_EquityMethodInvestmentsFairValueDisclosure_BB1AB0FEE1CAD2D1F8A7863C60C43805" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Fair value of special purpose entities</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_EquityMethodInvestmentsFairValueDisclosure" xlink:label="loc_us-gaap_EquityMethodInvestmentsFairValueDisclosure_BB1AB0FEE1CAD2D1F8A7863C60C43805" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EquityMethodInvestmentsFairValueDisclosure_BB1AB0FEE1CAD2D1F8A7863C60C43805" xlink:to="lab_us-gaap_EquityMethodInvestmentsFairValueDisclosure_BB1AB0FEE1CAD2D1F8A7863C60C43805" xlink:type="arc" />
    <link:label id="lab_ambc_NumberOfTransactionsWithSponsoredSpecialPurposeEntitiesInceptionToDate_AFAAFE83E45E7C6E3856863C60C4143E_terseLabel_en-US" xlink:label="lab_ambc_NumberOfTransactionsWithSponsoredSpecialPurposeEntitiesInceptionToDate_AFAAFE83E45E7C6E3856863C60C4143E" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of individual transactions with special purpose entities</link:label>
    <link:label id="lab_ambc_NumberOfTransactionsWithSponsoredSpecialPurposeEntitiesInceptionToDate_AFAAFE83E45E7C6E3856863C60C4143E_label_en-US" xlink:label="lab_ambc_NumberOfTransactionsWithSponsoredSpecialPurposeEntitiesInceptionToDate_AFAAFE83E45E7C6E3856863C60C4143E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Number Of Transactions With Sponsored Special Purpose Entities Inception To Date</link:label>
    <link:label id="lab_ambc_NumberOfTransactionsWithSponsoredSpecialPurposeEntitiesInceptionToDate_AFAAFE83E45E7C6E3856863C60C4143E_documentation_en-US" xlink:label="lab_ambc_NumberOfTransactionsWithSponsoredSpecialPurposeEntitiesInceptionToDate_AFAAFE83E45E7C6E3856863C60C4143E" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The number of asset transfer transactions executed with Ambac's sponsored medium term note special purpose entities since the inception of those entities.</link:label>
    <link:loc xlink:href="ambc-20160331.xsd#ambc_NumberOfTransactionsWithSponsoredSpecialPurposeEntitiesInceptionToDate" xlink:label="loc_ambc_NumberOfTransactionsWithSponsoredSpecialPurposeEntitiesInceptionToDate_AFAAFE83E45E7C6E3856863C60C4143E" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ambc_NumberOfTransactionsWithSponsoredSpecialPurposeEntitiesInceptionToDate_AFAAFE83E45E7C6E3856863C60C4143E" xlink:to="lab_ambc_NumberOfTransactionsWithSponsoredSpecialPurposeEntitiesInceptionToDate_AFAAFE83E45E7C6E3856863C60C4143E" xlink:type="arc" />
    <link:label id="lab_ambc_NumberOfTransactionsOutstandingWithSponsoredSpecialPurposeEntities_4D9A27DDD263ACEC37E3863C60C4C944_terseLabel_en-US" xlink:label="lab_ambc_NumberOfTransactionsOutstandingWithSponsoredSpecialPurposeEntities_4D9A27DDD263ACEC37E3863C60C4C944" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of transactions outstanding with special purpose entities</link:label>
    <link:label id="lab_ambc_NumberOfTransactionsOutstandingWithSponsoredSpecialPurposeEntities_4D9A27DDD263ACEC37E3863C60C4C944_label_en-US" xlink:label="lab_ambc_NumberOfTransactionsOutstandingWithSponsoredSpecialPurposeEntities_4D9A27DDD263ACEC37E3863C60C4C944" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Number Of Transactions Outstanding With Sponsored Special Purpose Entities</link:label>
    <link:label id="lab_ambc_NumberOfTransactionsOutstandingWithSponsoredSpecialPurposeEntities_4D9A27DDD263ACEC37E3863C60C4C944_documentation_en-US" xlink:label="lab_ambc_NumberOfTransactionsOutstandingWithSponsoredSpecialPurposeEntities_4D9A27DDD263ACEC37E3863C60C4C944" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The number of asset transfer transactions executed with Ambac's sponsored medium term note special purpose entities that are still outstanding at the reporting date.</link:label>
    <link:loc xlink:href="ambc-20160331.xsd#ambc_NumberOfTransactionsOutstandingWithSponsoredSpecialPurposeEntities" xlink:label="loc_ambc_NumberOfTransactionsOutstandingWithSponsoredSpecialPurposeEntities_4D9A27DDD263ACEC37E3863C60C4C944" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ambc_NumberOfTransactionsOutstandingWithSponsoredSpecialPurposeEntities_4D9A27DDD263ACEC37E3863C60C4C944" xlink:to="lab_ambc_NumberOfTransactionsOutstandingWithSponsoredSpecialPurposeEntities_4D9A27DDD263ACEC37E3863C60C4C944" xlink:type="arc" />
    <link:label id="lab_ambc_FaceAmountOfDebtOutstandingIssuedBySponsoredSpecialPurposeEntities_DABCD549387ABD1D99B6863C60C466CD_terseLabel_en-US" xlink:label="lab_ambc_FaceAmountOfDebtOutstandingIssuedBySponsoredSpecialPurposeEntities_DABCD549387ABD1D99B6863C60C466CD" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Total principal amount of debt outstanding</link:label>
    <link:label id="lab_ambc_FaceAmountOfDebtOutstandingIssuedBySponsoredSpecialPurposeEntities_DABCD549387ABD1D99B6863C60C466CD_label_en-US" xlink:label="lab_ambc_FaceAmountOfDebtOutstandingIssuedBySponsoredSpecialPurposeEntities_DABCD549387ABD1D99B6863C60C466CD" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Face Amount Of Debt Outstanding Issued By Sponsored Special Purpose Entities</link:label>
    <link:label id="lab_ambc_FaceAmountOfDebtOutstandingIssuedBySponsoredSpecialPurposeEntities_DABCD549387ABD1D99B6863C60C466CD_documentation_en-US" xlink:label="lab_ambc_FaceAmountOfDebtOutstandingIssuedBySponsoredSpecialPurposeEntities_DABCD549387ABD1D99B6863C60C466CD" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The total principal amount of outstanding debt issued by Ambac's sponsored medium term note special purpose entities.</link:label>
    <link:loc xlink:href="ambc-20160331.xsd#ambc_FaceAmountOfDebtOutstandingIssuedBySponsoredSpecialPurposeEntities" xlink:label="loc_ambc_FaceAmountOfDebtOutstandingIssuedBySponsoredSpecialPurposeEntities_DABCD549387ABD1D99B6863C60C466CD" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ambc_FaceAmountOfDebtOutstandingIssuedBySponsoredSpecialPurposeEntities_DABCD549387ABD1D99B6863C60C466CD" xlink:to="lab_ambc_FaceAmountOfDebtOutstandingIssuedBySponsoredSpecialPurposeEntities_DABCD549387ABD1D99B6863C60C466CD" xlink:type="arc" />
    <link:label id="lab_ambc_WeightedAverageLifeOfAssetsHeldBySponsoredSpecialPurposeEntities_070E3EA4BEE69B03E041863C60C41981_terseLabel_en-US" xlink:label="lab_ambc_WeightedAverageLifeOfAssetsHeldBySponsoredSpecialPurposeEntities_070E3EA4BEE69B03E041863C60C41981" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Weighted average life</link:label>
    <link:label id="lab_ambc_WeightedAverageLifeOfAssetsHeldBySponsoredSpecialPurposeEntities_070E3EA4BEE69B03E041863C60C41981_label_en-US" xlink:label="lab_ambc_WeightedAverageLifeOfAssetsHeldBySponsoredSpecialPurposeEntities_070E3EA4BEE69B03E041863C60C41981" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Weighted Average Life Of Assets Held By Sponsored Special Purpose Entities</link:label>
    <link:label id="lab_ambc_WeightedAverageLifeOfAssetsHeldBySponsoredSpecialPurposeEntities_070E3EA4BEE69B03E041863C60C41981_documentation_en-US" xlink:label="lab_ambc_WeightedAverageLifeOfAssetsHeldBySponsoredSpecialPurposeEntities_070E3EA4BEE69B03E041863C60C41981" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The weighted average remaining life of assets held by Ambac's sponsored medium term note special purpose entities at the reporting date.</link:label>
    <link:loc xlink:href="ambc-20160331.xsd#ambc_WeightedAverageLifeOfAssetsHeldBySponsoredSpecialPurposeEntities" xlink:label="loc_ambc_WeightedAverageLifeOfAssetsHeldBySponsoredSpecialPurposeEntities_070E3EA4BEE69B03E041863C60C41981" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ambc_WeightedAverageLifeOfAssetsHeldBySponsoredSpecialPurposeEntities_070E3EA4BEE69B03E041863C60C41981" xlink:to="lab_ambc_WeightedAverageLifeOfAssetsHeldBySponsoredSpecialPurposeEntities_070E3EA4BEE69B03E041863C60C41981" xlink:type="arc" />
    <link:label id="lab_ambc_WeightedAverageRatingOfAssetsHeldBySponsoredSpecialPurposeEntities_07767580E3A66BECD458863C60C4CE92_terseLabel_en-US" xlink:label="lab_ambc_WeightedAverageRatingOfAssetsHeldBySponsoredSpecialPurposeEntities_07767580E3A66BECD458863C60C4CE92" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Average rating of assets held by sponsored special purpose entities</link:label>
    <link:label id="lab_ambc_WeightedAverageRatingOfAssetsHeldBySponsoredSpecialPurposeEntities_07767580E3A66BECD458863C60C4CE92_label_en-US" xlink:label="lab_ambc_WeightedAverageRatingOfAssetsHeldBySponsoredSpecialPurposeEntities_07767580E3A66BECD458863C60C4CE92" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Weighted Average Rating Of Assets Held By Sponsored Special Purpose Entities</link:label>
    <link:label id="lab_ambc_WeightedAverageRatingOfAssetsHeldBySponsoredSpecialPurposeEntities_07767580E3A66BECD458863C60C4CE92_documentation_en-US" xlink:label="lab_ambc_WeightedAverageRatingOfAssetsHeldBySponsoredSpecialPurposeEntities_07767580E3A66BECD458863C60C4CE92" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The weighted average credit rating of assets held by Ambac's sponsored medium term note special purpose entities at the reporting date.</link:label>
    <link:loc xlink:href="ambc-20160331.xsd#ambc_WeightedAverageRatingOfAssetsHeldBySponsoredSpecialPurposeEntities" xlink:label="loc_ambc_WeightedAverageRatingOfAssetsHeldBySponsoredSpecialPurposeEntities_07767580E3A66BECD458863C60C4CE92" xlink:type="locator" />
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    <link:label id="lab_ambc_NumberOfConsolidatedVariableInterestEntities_766C31D1FFE0B3DC4BDF863C60C4C4AC_terseLabel_en-US" xlink:label="lab_ambc_NumberOfConsolidatedVariableInterestEntities_766C31D1FFE0B3DC4BDF863C60C4C4AC" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of consolidated Variable Interest Entities</link:label>
    <link:label id="lab_ambc_NumberOfConsolidatedVariableInterestEntities_766C31D1FFE0B3DC4BDF863C60C4C4AC_label_en-US" xlink:label="lab_ambc_NumberOfConsolidatedVariableInterestEntities_766C31D1FFE0B3DC4BDF863C60C4C4AC" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Number Of Consolidated Variable Interest Entities</link:label>
    <link:label id="lab_ambc_NumberOfConsolidatedVariableInterestEntities_766C31D1FFE0B3DC4BDF863C60C4C4AC_documentation_en-US" xlink:label="lab_ambc_NumberOfConsolidatedVariableInterestEntities_766C31D1FFE0B3DC4BDF863C60C4C4AC" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Number of consolidated variable interest entities.</link:label>
    <link:loc xlink:href="ambc-20160331.xsd#ambc_NumberOfConsolidatedVariableInterestEntities" xlink:label="loc_ambc_NumberOfConsolidatedVariableInterestEntities_766C31D1FFE0B3DC4BDF863C60C4C4AC" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ambc_NumberOfConsolidatedVariableInterestEntities_766C31D1FFE0B3DC4BDF863C60C4C4AC" xlink:to="lab_ambc_NumberOfConsolidatedVariableInterestEntities_766C31D1FFE0B3DC4BDF863C60C4C4AC" xlink:type="arc" />
    <link:label id="lab_us-gaap_VariableInterestEntityConsolidatedCarryingAmountAssets_5A77DC1A7EAB90DDD6DC863C60C41E6E_terseLabel_en-US" xlink:label="lab_us-gaap_VariableInterestEntityConsolidatedCarryingAmountAssets_5A77DC1A7EAB90DDD6DC863C60C41E6E" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Consolidated VIE assets</link:label>
    <link:label id="lab_us-gaap_VariableInterestEntityConsolidatedCarryingAmountAssets_5A77DC1A7EAB90DDD6DC863C60C41E6E_label_en-US" xlink:label="lab_us-gaap_VariableInterestEntityConsolidatedCarryingAmountAssets_5A77DC1A7EAB90DDD6DC863C60C41E6E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Variable Interest Entity, Consolidated, Carrying Amount, Assets</link:label>
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    <link:label id="lab_ambc_PercentageOfCreditDerivativeGrossParOutstandingUsingInternallyEstimatedReferenceObligationPricesInDeterminationOfFairValue_1BA4268C83DC43259642E1E44234EDB3_terseLabel_en-US" xlink:label="lab_ambc_PercentageOfCreditDerivativeGrossParOutstandingUsingInternallyEstimatedReferenceObligationPricesInDeterminationOfFairValue_1BA4268C83DC43259642E1E44234EDB3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Percentage of CDS gross par outstanding using internally estimated reference obligation prices in determination of fair value</link:label>
    <link:label id="lab_ambc_PercentageOfCreditDerivativeGrossParOutstandingUsingInternallyEstimatedReferenceObligationPricesInDeterminationOfFairValue_1BA4268C83DC43259642E1E44234EDB3_label_en-US" xlink:label="lab_ambc_PercentageOfCreditDerivativeGrossParOutstandingUsingInternallyEstimatedReferenceObligationPricesInDeterminationOfFairValue_1BA4268C83DC43259642E1E44234EDB3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Percentage Of Credit Derivative Gross Par Outstanding Using Internally Estimated Reference Obligation Prices In Determination Of Fair Value</link:label>
    <link:label id="lab_ambc_PercentageOfCreditDerivativeGrossParOutstandingUsingInternallyEstimatedReferenceObligationPricesInDeterminationOfFairValue_1BA4268C83DC43259642E1E44234EDB3_documentation_en-US" xlink:label="lab_ambc_PercentageOfCreditDerivativeGrossParOutstandingUsingInternallyEstimatedReferenceObligationPricesInDeterminationOfFairValue_1BA4268C83DC43259642E1E44234EDB3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Percentage of credit derivative gross par outstanding using internally estimated reference obligation prices in determination of fair value.</link:label>
    <link:loc xlink:href="ambc-20160331.xsd#ambc_PercentageOfCreditDerivativeGrossParOutstandingUsingInternallyEstimatedReferenceObligationPricesInDeterminationOfFairValue" xlink:label="loc_ambc_PercentageOfCreditDerivativeGrossParOutstandingUsingInternallyEstimatedReferenceObligationPricesInDeterminationOfFairValue_1BA4268C83DC43259642E1E44234EDB3" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ambc_PercentageOfCreditDerivativeGrossParOutstandingUsingInternallyEstimatedReferenceObligationPricesInDeterminationOfFairValue_1BA4268C83DC43259642E1E44234EDB3" xlink:to="lab_ambc_PercentageOfCreditDerivativeGrossParOutstandingUsingInternallyEstimatedReferenceObligationPricesInDeterminationOfFairValue_1BA4268C83DC43259642E1E44234EDB3" xlink:type="arc" />
    <link:label id="lab_ambc_PercentageOfCreditDerivativeLiabilityUsingInternallyEstimatedReferenceObligationPricesInDeterminationOfFairValue_AB9DEDDBA6E20F35BC35E1E442348488_terseLabel_en-US" xlink:label="lab_ambc_PercentageOfCreditDerivativeLiabilityUsingInternallyEstimatedReferenceObligationPricesInDeterminationOfFairValue_AB9DEDDBA6E20F35BC35E1E442348488" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Percentage of CDS liability using internally estimated reference obligation prices in determination of fair value</link:label>
    <link:label id="lab_ambc_PercentageOfCreditDerivativeLiabilityUsingInternallyEstimatedReferenceObligationPricesInDeterminationOfFairValue_AB9DEDDBA6E20F35BC35E1E442348488_label_en-US" xlink:label="lab_ambc_PercentageOfCreditDerivativeLiabilityUsingInternallyEstimatedReferenceObligationPricesInDeterminationOfFairValue_AB9DEDDBA6E20F35BC35E1E442348488" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Percentage Of Credit Derivative Liability Using Internally Estimated Reference Obligation Prices In Determination Of Fair Value</link:label>
    <link:label id="lab_ambc_PercentageOfCreditDerivativeLiabilityUsingInternallyEstimatedReferenceObligationPricesInDeterminationOfFairValue_AB9DEDDBA6E20F35BC35E1E442348488_documentation_en-US" xlink:label="lab_ambc_PercentageOfCreditDerivativeLiabilityUsingInternallyEstimatedReferenceObligationPricesInDeterminationOfFairValue_AB9DEDDBA6E20F35BC35E1E442348488" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Percentage of credit derivative liability using internally estimated reference obligation prices in determination of fair value.</link:label>
    <link:loc xlink:href="ambc-20160331.xsd#ambc_PercentageOfCreditDerivativeLiabilityUsingInternallyEstimatedReferenceObligationPricesInDeterminationOfFairValue" xlink:label="loc_ambc_PercentageOfCreditDerivativeLiabilityUsingInternallyEstimatedReferenceObligationPricesInDeterminationOfFairValue_AB9DEDDBA6E20F35BC35E1E442348488" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ambc_PercentageOfCreditDerivativeLiabilityUsingInternallyEstimatedReferenceObligationPricesInDeterminationOfFairValue_AB9DEDDBA6E20F35BC35E1E442348488" xlink:to="lab_ambc_PercentageOfCreditDerivativeLiabilityUsingInternallyEstimatedReferenceObligationPricesInDeterminationOfFairValue_AB9DEDDBA6E20F35BC35E1E442348488" xlink:type="arc" />
    <link:label id="lab_ambc_FairValueMeasurementProcessDescriptionForCreditDerivativesBaseFee_716E47D6E8A86323B6AFE1E44234775F_terseLabel_en-US" xlink:label="lab_ambc_FairValueMeasurementProcessDescriptionForCreditDerivativesBaseFee_716E47D6E8A86323B6AFE1E44234775F" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Basis point fee received for issuing a CDS on reference obligation base fee</link:label>
    <link:label id="lab_ambc_FairValueMeasurementProcessDescriptionForCreditDerivativesBaseFee_716E47D6E8A86323B6AFE1E44234775F_label_en-US" xlink:label="lab_ambc_FairValueMeasurementProcessDescriptionForCreditDerivativesBaseFee_716E47D6E8A86323B6AFE1E44234775F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fair Value Measurement Process Description For Credit Derivatives Base Fee</link:label>
    <link:label id="lab_ambc_FairValueMeasurementProcessDescriptionForCreditDerivativesBaseFee_716E47D6E8A86323B6AFE1E44234775F_documentation_en-US" xlink:label="lab_ambc_FairValueMeasurementProcessDescriptionForCreditDerivativesBaseFee_716E47D6E8A86323B6AFE1E44234775F" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Hypothetical base fee received on a credit derivative contract used in the description of the valuation processes in place for fair value measurement of credit derivatives.</link:label>
    <link:loc xlink:href="ambc-20160331.xsd#ambc_FairValueMeasurementProcessDescriptionForCreditDerivativesBaseFee" xlink:label="loc_ambc_FairValueMeasurementProcessDescriptionForCreditDerivativesBaseFee_716E47D6E8A86323B6AFE1E44234775F" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ambc_FairValueMeasurementProcessDescriptionForCreditDerivativesBaseFee_716E47D6E8A86323B6AFE1E44234775F" xlink:to="lab_ambc_FairValueMeasurementProcessDescriptionForCreditDerivativesBaseFee_716E47D6E8A86323B6AFE1E44234775F" xlink:type="arc" />
    <link:label id="lab_ambc_FairValueMeasurementProcessDescriptionForCreditDerivativesBaseReferenceObligationSpread_346C3184D1274276C27BE1E442340810_terseLabel_en-US" xlink:label="lab_ambc_FairValueMeasurementProcessDescriptionForCreditDerivativesBaseReferenceObligationSpread_346C3184D1274276C27BE1E442340810" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Credit spread of reference obligation of a base transaction</link:label>
    <link:label id="lab_ambc_FairValueMeasurementProcessDescriptionForCreditDerivativesBaseReferenceObligationSpread_346C3184D1274276C27BE1E442340810_label_en-US" xlink:label="lab_ambc_FairValueMeasurementProcessDescriptionForCreditDerivativesBaseReferenceObligationSpread_346C3184D1274276C27BE1E442340810" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fair Value Measurement Process Description For Credit Derivatives Base Reference Obligation Spread</link:label>
    <link:label id="lab_ambc_FairValueMeasurementProcessDescriptionForCreditDerivativesBaseReferenceObligationSpread_346C3184D1274276C27BE1E442340810_documentation_en-US" xlink:label="lab_ambc_FairValueMeasurementProcessDescriptionForCreditDerivativesBaseReferenceObligationSpread_346C3184D1274276C27BE1E442340810" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Hypothetical base reference obligation spread used in the description of the valuation processes in place for fair value measurement of credit derivatives.</link:label>
    <link:loc xlink:href="ambc-20160331.xsd#ambc_FairValueMeasurementProcessDescriptionForCreditDerivativesBaseReferenceObligationSpread" xlink:label="loc_ambc_FairValueMeasurementProcessDescriptionForCreditDerivativesBaseReferenceObligationSpread_346C3184D1274276C27BE1E442340810" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ambc_FairValueMeasurementProcessDescriptionForCreditDerivativesBaseReferenceObligationSpread_346C3184D1274276C27BE1E442340810" xlink:to="lab_ambc_FairValueMeasurementProcessDescriptionForCreditDerivativesBaseReferenceObligationSpread_346C3184D1274276C27BE1E442340810" xlink:type="arc" />
    <link:label id="lab_ambc_FairValueMeasurementProcessDescriptionForCreditDerivativesBaseRelativeChangeRatio_376B72B3FBBDB78FE61CE1E44234F2D3_terseLabel_en-US" xlink:label="lab_ambc_FairValueMeasurementProcessDescriptionForCreditDerivativesBaseRelativeChangeRatio_376B72B3FBBDB78FE61CE1E44234F2D3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Relative change ratio of CDS fee to cash market spread</link:label>
    <link:label id="lab_ambc_FairValueMeasurementProcessDescriptionForCreditDerivativesBaseRelativeChangeRatio_376B72B3FBBDB78FE61CE1E44234F2D3_label_en-US" xlink:label="lab_ambc_FairValueMeasurementProcessDescriptionForCreditDerivativesBaseRelativeChangeRatio_376B72B3FBBDB78FE61CE1E44234F2D3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fair Value Measurement Process Description For Credit Derivatives Base Relative Change Ratio</link:label>
    <link:label id="lab_ambc_FairValueMeasurementProcessDescriptionForCreditDerivativesBaseRelativeChangeRatio_376B72B3FBBDB78FE61CE1E44234F2D3_documentation_en-US" xlink:label="lab_ambc_FairValueMeasurementProcessDescriptionForCreditDerivativesBaseRelativeChangeRatio_376B72B3FBBDB78FE61CE1E44234F2D3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Hypothetical base relative change ratio for a credit derivative contract used in the description of the valuation processes in place for fair value measurement of credit derivatives.</link:label>
    <link:loc xlink:href="ambc-20160331.xsd#ambc_FairValueMeasurementProcessDescriptionForCreditDerivativesBaseRelativeChangeRatio" xlink:label="loc_ambc_FairValueMeasurementProcessDescriptionForCreditDerivativesBaseRelativeChangeRatio_376B72B3FBBDB78FE61CE1E44234F2D3" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ambc_FairValueMeasurementProcessDescriptionForCreditDerivativesBaseRelativeChangeRatio_376B72B3FBBDB78FE61CE1E44234F2D3" xlink:to="lab_ambc_FairValueMeasurementProcessDescriptionForCreditDerivativesBaseRelativeChangeRatio_376B72B3FBBDB78FE61CE1E44234F2D3" xlink:type="arc" />
    <link:label id="lab_ambc_FairValueMeasurementProcessDescriptionForCreditDerivativesFullRelativeChangeRatio_C500B8CB8BB85E10CDA0E1E442345F7F_terseLabel_en-US" xlink:label="lab_ambc_FairValueMeasurementProcessDescriptionForCreditDerivativesFullRelativeChangeRatio_C500B8CB8BB85E10CDA0E1E442345F7F" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Full relative change ratio of CDS fee to cash market spread</link:label>
    <link:label id="lab_ambc_FairValueMeasurementProcessDescriptionForCreditDerivativesFullRelativeChangeRatio_C500B8CB8BB85E10CDA0E1E442345F7F_label_en-US" xlink:label="lab_ambc_FairValueMeasurementProcessDescriptionForCreditDerivativesFullRelativeChangeRatio_C500B8CB8BB85E10CDA0E1E442345F7F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fair Value Measurement Process Description For Credit Derivatives Full Relative Change Ratio</link:label>
    <link:label id="lab_ambc_FairValueMeasurementProcessDescriptionForCreditDerivativesFullRelativeChangeRatio_C500B8CB8BB85E10CDA0E1E442345F7F_documentation_en-US" xlink:label="lab_ambc_FairValueMeasurementProcessDescriptionForCreditDerivativesFullRelativeChangeRatio_C500B8CB8BB85E10CDA0E1E442345F7F" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Full relative change ratio comparable to certain default used in the description of the valuation processes in place for fair value measurement of credit derivative.</link:label>
    <link:loc xlink:href="ambc-20160331.xsd#ambc_FairValueMeasurementProcessDescriptionForCreditDerivativesFullRelativeChangeRatio" xlink:label="loc_ambc_FairValueMeasurementProcessDescriptionForCreditDerivativesFullRelativeChangeRatio_C500B8CB8BB85E10CDA0E1E442345F7F" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ambc_FairValueMeasurementProcessDescriptionForCreditDerivativesFullRelativeChangeRatio_C500B8CB8BB85E10CDA0E1E442345F7F" xlink:to="lab_ambc_FairValueMeasurementProcessDescriptionForCreditDerivativesFullRelativeChangeRatio_C500B8CB8BB85E10CDA0E1E442345F7F" xlink:type="arc" />
    <link:label id="lab_ambc_FairValueMeasurementProcessDescriptionForCreditDerivativesRevisedHypotheticalFee_7F0CE715BD600A1F1BFBE1E442349B5D_terseLabel_en-US" xlink:label="lab_ambc_FairValueMeasurementProcessDescriptionForCreditDerivativesRevisedHypotheticalFee_7F0CE715BD600A1F1BFBE1E442349B5D" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Basis point fee received for issuing a CDS on reference obligation hypothetical fee</link:label>
    <link:label id="lab_ambc_FairValueMeasurementProcessDescriptionForCreditDerivativesRevisedHypotheticalFee_7F0CE715BD600A1F1BFBE1E442349B5D_label_en-US" xlink:label="lab_ambc_FairValueMeasurementProcessDescriptionForCreditDerivativesRevisedHypotheticalFee_7F0CE715BD600A1F1BFBE1E442349B5D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fair Value Measurement Process Description For Credit Derivatives Revised Hypothetical Fee</link:label>
    <link:label id="lab_ambc_FairValueMeasurementProcessDescriptionForCreditDerivativesRevisedHypotheticalFee_7F0CE715BD600A1F1BFBE1E442349B5D_documentation_en-US" xlink:label="lab_ambc_FairValueMeasurementProcessDescriptionForCreditDerivativesRevisedHypotheticalFee_7F0CE715BD600A1F1BFBE1E442349B5D" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Hypothetical revised fee required on credit derivative contract used in the description of the valuation processes in place for fair value measurement of credit derivatives.</link:label>
    <link:loc xlink:href="ambc-20160331.xsd#ambc_FairValueMeasurementProcessDescriptionForCreditDerivativesRevisedHypotheticalFee" xlink:label="loc_ambc_FairValueMeasurementProcessDescriptionForCreditDerivativesRevisedHypotheticalFee_7F0CE715BD600A1F1BFBE1E442349B5D" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ambc_FairValueMeasurementProcessDescriptionForCreditDerivativesRevisedHypotheticalFee_7F0CE715BD600A1F1BFBE1E442349B5D" xlink:to="lab_ambc_FairValueMeasurementProcessDescriptionForCreditDerivativesRevisedHypotheticalFee_7F0CE715BD600A1F1BFBE1E442349B5D" xlink:type="arc" />
    <link:label id="lab_ambc_FairValueMeasurementProcessDescriptionForCreditDerivativesRevisedHypotheticalFeeWithCreditDownGrade_81DDC9A6296C29679AE1E1E442344AA3_terseLabel_en-US" xlink:label="lab_ambc_FairValueMeasurementProcessDescriptionForCreditDerivativesRevisedHypotheticalFeeWithCreditDownGrade_81DDC9A6296C29679AE1E1E442344AA3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Relative change ratio of CDS fee to cash market spread</link:label>
    <link:label id="lab_ambc_FairValueMeasurementProcessDescriptionForCreditDerivativesRevisedHypotheticalFeeWithCreditDownGrade_81DDC9A6296C29679AE1E1E442344AA3_label_en-US" xlink:label="lab_ambc_FairValueMeasurementProcessDescriptionForCreditDerivativesRevisedHypotheticalFeeWithCreditDownGrade_81DDC9A6296C29679AE1E1E442344AA3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fair Value Measurement Process Description For Credit Derivatives Revised Hypothetical Fee With Credit Down Grade</link:label>
    <link:label id="lab_ambc_FairValueMeasurementProcessDescriptionForCreditDerivativesRevisedHypotheticalFeeWithCreditDownGrade_81DDC9A6296C29679AE1E1E442344AA3_documentation_en-US" xlink:label="lab_ambc_FairValueMeasurementProcessDescriptionForCreditDerivativesRevisedHypotheticalFeeWithCreditDownGrade_81DDC9A6296C29679AE1E1E442344AA3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Hypothetical revised fee required on credit derivative given a certain credit downgrade used in the description of the valuation processes in place for fair value measurement of credit derivatives.</link:label>
    <link:loc xlink:href="ambc-20160331.xsd#ambc_FairValueMeasurementProcessDescriptionForCreditDerivativesRevisedHypotheticalFeeWithCreditDownGrade" xlink:label="loc_ambc_FairValueMeasurementProcessDescriptionForCreditDerivativesRevisedHypotheticalFeeWithCreditDownGrade_81DDC9A6296C29679AE1E1E442344AA3" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ambc_FairValueMeasurementProcessDescriptionForCreditDerivativesRevisedHypotheticalFeeWithCreditDownGrade_81DDC9A6296C29679AE1E1E442344AA3" xlink:to="lab_ambc_FairValueMeasurementProcessDescriptionForCreditDerivativesRevisedHypotheticalFeeWithCreditDownGrade_81DDC9A6296C29679AE1E1E442344AA3" xlink:type="arc" />
    <link:label id="lab_ambc_FairValueMeasurementProcessDescriptionForCreditDerivativesRevisedHypotheticalReferenceObligationSpreadTwo_7867E905B84CB5344D25E1E44234C4A9_terseLabel_en-US" xlink:label="lab_ambc_FairValueMeasurementProcessDescriptionForCreditDerivativesRevisedHypotheticalReferenceObligationSpreadTwo_7867E905B84CB5344D25E1E44234C4A9" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Credit spread of reference obligation of revised transaction</link:label>
    <link:label id="lab_ambc_FairValueMeasurementProcessDescriptionForCreditDerivativesRevisedHypotheticalReferenceObligationSpreadTwo_7867E905B84CB5344D25E1E44234C4A9_label_en-US" xlink:label="lab_ambc_FairValueMeasurementProcessDescriptionForCreditDerivativesRevisedHypotheticalReferenceObligationSpreadTwo_7867E905B84CB5344D25E1E44234C4A9" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fair Value Measurement Process Description For Credit Derivatives Revised Hypothetical Reference Obligation Spread Two</link:label>
    <link:label id="lab_ambc_FairValueMeasurementProcessDescriptionForCreditDerivativesRevisedHypotheticalReferenceObligationSpreadTwo_7867E905B84CB5344D25E1E44234C4A9_documentation_en-US" xlink:label="lab_ambc_FairValueMeasurementProcessDescriptionForCreditDerivativesRevisedHypotheticalReferenceObligationSpreadTwo_7867E905B84CB5344D25E1E44234C4A9" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Hypothetical revised reference obligation spread (second example) used in the description of the valuation processes in place for fair value measurement of credit derivatives.</link:label>
    <link:loc xlink:href="ambc-20160331.xsd#ambc_FairValueMeasurementProcessDescriptionForCreditDerivativesRevisedHypotheticalReferenceObligationSpreadTwo" xlink:label="loc_ambc_FairValueMeasurementProcessDescriptionForCreditDerivativesRevisedHypotheticalReferenceObligationSpreadTwo_7867E905B84CB5344D25E1E44234C4A9" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ambc_FairValueMeasurementProcessDescriptionForCreditDerivativesRevisedHypotheticalReferenceObligationSpreadTwo_7867E905B84CB5344D25E1E44234C4A9" xlink:to="lab_ambc_FairValueMeasurementProcessDescriptionForCreditDerivativesRevisedHypotheticalReferenceObligationSpreadTwo_7867E905B84CB5344D25E1E44234C4A9" xlink:type="arc" />
    <link:label id="lab_ambc_FairValueMeasurementProcessDescriptionForCreditDerivativesHypotheticalIncrementalFee_9A911B8FFC42626E5DAFE1E442344429_terseLabel_en-US" xlink:label="lab_ambc_FairValueMeasurementProcessDescriptionForCreditDerivativesHypotheticalIncrementalFee_9A911B8FFC42626E5DAFE1E442344429" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Additional basis point fee need to receive for issuing a CDS on obligation</link:label>
    <link:label id="lab_ambc_FairValueMeasurementProcessDescriptionForCreditDerivativesHypotheticalIncrementalFee_9A911B8FFC42626E5DAFE1E442344429_label_en-US" xlink:label="lab_ambc_FairValueMeasurementProcessDescriptionForCreditDerivativesHypotheticalIncrementalFee_9A911B8FFC42626E5DAFE1E442344429" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fair Value Measurement Process Description For Credit Derivatives Hypothetical Incremental Fee</link:label>
    <link:label id="lab_ambc_FairValueMeasurementProcessDescriptionForCreditDerivativesHypotheticalIncrementalFee_9A911B8FFC42626E5DAFE1E442344429_documentation_en-US" xlink:label="lab_ambc_FairValueMeasurementProcessDescriptionForCreditDerivativesHypotheticalIncrementalFee_9A911B8FFC42626E5DAFE1E442344429" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Hypothetical incremental credit derivative fee used in the description of the valuation processes in place for fair value measurement of credit derivatives.</link:label>
    <link:loc xlink:href="ambc-20160331.xsd#ambc_FairValueMeasurementProcessDescriptionForCreditDerivativesHypotheticalIncrementalFee" xlink:label="loc_ambc_FairValueMeasurementProcessDescriptionForCreditDerivativesHypotheticalIncrementalFee_9A911B8FFC42626E5DAFE1E442344429" xlink:type="locator" />
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    <link:label id="lab_ambc_FairValueMeasurementProcessDescriptionForCreditDerivativesHypotheticalIncrementalFeeWithCreditDeterioration_546FACD5417C8EFEEC40E1E442347AA7_terseLabel_en-US" xlink:label="lab_ambc_FairValueMeasurementProcessDescriptionForCreditDerivativesHypotheticalIncrementalFeeWithCreditDeterioration_546FACD5417C8EFEEC40E1E442347AA7" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Additional basis points fee increase on change of reference obligation spread</link:label>
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