XML 33 R13.htm IDEA: XBRL DOCUMENT
v3.10.0.1

Financial Guarantees in Force (Notes) | 12 Months Ended
--- | ---
Dec. 31, 2018
Guarantees [Abstract] |
Financial Guarantees in Force | 6. FINANCIAL GUARANTEES IN FORCE Financial guarantees outstanding includes the exposures of policies that insure variable interest entities (“VIEs”) consolidated in accordance with ASC Topic 810, Consolidation. Financial guarantees outstanding includes the exposure of policies that insure capital appreciation bonds which are reported at the par amount at the time of issuance of the insurance policy as opposed to the current accreted value of the bonds. Financial guarantees outstanding exclude the exposures of policies that insure bonds which have been called, pre-refunded or refunded. The gross par amount of financial guarantees outstanding was $52,055,000 and $67,140,000 at December 31, 2018 and 2017, respectively. The par amount of financial guarantees outstanding, net of reinsurance, was $46,927,000 and $62,716,000 at December 31, 2018 and 2017, respectively. As of December 31, 2018 and 2017, the guarantee portfolio was diversified by type of guaranteed bond as shown in the following table:
Net Par Outstanding December 31, | 2018 |  | 2017
Public Finance: |  |  |
Lease and tax-backed revenue | $ | 7,565,000 |  |  | $ | 11,893,000 |
Housing revenue (1) | 6,159,000 |  |  | 6,312,000 |
General obligation | 4,214,000 |  |  | 6,257,000 |
Transportation revenue | 1,754,000 |  |  | 2,002,000 |
Utility revenue | 1,178,000 |  |  | 2,212,000 |
Higher education | 1,168,000 |  |  | 1,642,000 |
Health care revenue | 459,000 |  |  | 807,000 |
Other | 945,000 |  |  | 963,000 |
Total Public Finance | 23,442,000 |  |  | 32,088,000 |
Structured Finance: |  |  |
Mortgage-backed and home equity | 5,510,000 |  |  | 7,267,000 |
Investor-owned utilities | 1,754,000 |  |  | 3,274,000 |
Structured Insurance | 1,365,000 |  |  | 1,420,000 |
Student loan | 934,000 |  |  | 1,238,000 |
Asset-backed (2) | 237,000 |  |  | 443,000 |
Other | 147,000 |  |  | 174,000 |
Total Structured Finance | 9,947,000 |  |  | 13,816,000 |
International Finance: |  |  |
Sovereign/sub-sovereign | 5,250,000 |  |  | 5,664,000 |
Investor-owned and public utilities | 4,499,000 |  |  | 5,696,000 |
Transportation | 1,613,000 |  |  | 1,777,000 |
Asset-backed (2) | 1,550,000 |  |  | 2,609,000 |
Mortgage-backed and home equity | — |  |  | 246,000 |
Other | 626,000 |  |  | 820,000 |
Total International Finance | 13,538,000 |  |  | 16,812,000 |
Total | $ | 46,927,000 |  |  | $ | 62,716,000 |
(1) | Includes $5,759,000 and $5,829,000 of Military Housing net par at December 31, 2018 and 2017, respectively.
(2) | At December 31, 2018 and 2017, all asset-backed net par amounts outstanding relate to commercial asset-based transactions.
As of December 31, 2018 and 2017, the International Finance guaranteed portfolio by location of risk was as outlined in the table below:
Net Par Outstanding December 31, | 2018 |  | 2017
United Kingdom | $ | 10,965,000 |  |  | $ | 13,554,000 |
Italy | 811,000 |  |  | 877,000 |
Austria | 712,000 |  |  | 770,000 |
Australia | 384,000 |  |  | 608,000 |
France | 312,000 |  |  | 329,000 |
Internationally diversified (1) | 213,000 |  |  | 368,000 |
Other international | 141,000 |  |  | 306,000 |
Total International Finance | $ | 13,538,000 |  |  | $ | 16,812,000 |
(1) | Internationally diversified obligations represent pools of geographically diversified exposures which may include components of U.S. exposure.
Gross financial guarantees in force (principal and interest) were $87,543,000 and $108,550,000 at December 31, 2018 and 2017, respectively. Net financial guarantees in force (after giving effect to reinsurance) were $77,972,000 and $101,223,000 as of December 31, 2018 and 2017, respectively. In the United States, California, New York and Colorado were the states with the highest aggregate net par amounts in force, accounting for 7.9%, 5.5% and 5.2% of the total at December 31, 2018, respectively. No other state accounted for more than 5.0%. The highest single insured risk represented 2.8% of the aggregate net par amount guaranteed.

X
- Definition The entire disclosure related to the insured financial guarantees in force. Includes information regarding principal and interest insured. Additionally provides further details as to the type guaranteed bonds and geographic concentrations of risk. + References No definition available. + Details
Name: | ambc_FinancialGuaranteesInForceTextBlock
Namespace Prefix: | ambc_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_GuaranteesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration