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Variable Interest Entities (Tables) | 12 Months Ended
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Dec. 31, 2019
Variable Interest Entity Not Primary Beneficiary Table [Line Items] |
Schedule of Variable Interest Entities Assets and Liabilities [Table Text Block] | The following schedule details the components of Income (loss) on variable interest entities for the affected periods:
Year ended December 31, |  | 2019 |  | 2018 |  | 2017
Net change in fair value of VIE assets and liabilities reported under the fair value option |  | $ | 13 |  |  | $ | 3 |  |  | $ | 20 |
Less: Credit risk changes of fair value option long-term debt reported through other comprehensive income (loss) |  | — |  |  | (1 | ) |  | — |
Net change in fair value of VIE assets and liabilities reported in earnings |  | 14 |  |  | 2 |  |  | 20 |
Investment income on available-for-sale securities |  | 10 |  |  | — |  |  | — |
Net realized investment gains (losses) on available-for-sale securities |  | 13 |  |  | — |  |  | — |
Interest expense on long-term debt carried at par less unamortized cost |  | (11 | ) |  | — |  |  | — |
Other expenses |  | (1 | ) |  | — |  |  | — |
Gain (loss) from consolidating FG VIEs |  | 15 |  |  | — |  |  | — |
Gain (loss) from de-consolidating FG VIEs |  | (2 | ) |  | 2 |  |  | — |
Income (loss) on variable interest entities |  | $ | 38 |  |  | $ | 3 |  |  | $ | 20 |
Variable Interest Entity Not Primary Beneficiary Table [Table Text Block] | The following table displays the carrying amount of the assets, liabilities and maximum exposure to loss of Ambac’s variable interests in non-consolidated VIEs resulting from financial guarantee and derivative contracts by major underlying asset classes, as of December 31, 2019 and 2018:
| Carrying Value of Assets and Liabilities
| Maximum Exposure To Loss (1) |  | Insurance Assets (2) |  | Insurance Liabilities (3) |  | Net Derivative Assets (Liabilities) (4)
December 31, 2019: |  |  |  |  |  |  |
Global structured finance: |  |  |  |  |  |  |
Mortgage-backed—residential | $ | 5,373 |  |  | $ | 1,913 |  |  | $ | 523 |  |  | $ | — |
Other consumer asset-backed | 1,373 |  |  | 31 |  |  | 216 |  |  | — |
Other commercial asset-backed | 314 |  |  | 9 |  |  | 6 |  |  | — |
Other | 1,107 |  |  | 7 |  |  | 18 |  |  | 8 |
Total global structured finance | 8,165 |  |  | 1,961 |  |  | 762 |  |  | 8 |
Global public finance | 23,341 |  |  | 287 |  |  | 321 |  |  | — |
Total | $ | 31,506 |  |  | $ | 2,247 |  |  | $ | 1,083 |  |  | $ | 7 |
December 31, 2018: |  |  |  |  |  |  |
Global structured finance: |  |  |  |  |  |  |
Collateralized debt obligations | $ | 10 |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Mortgage-backed—residential | 6,713 |  |  | 1,859 |  |  | 547 |  |  | — |
Other consumer asset-backed | 1,701 |  |  | 15 |  |  | 238 |  |  | — |
Other commercial asset-backed | 873 |  |  | 21 |  |  | 12 |  |  | — |
Other | 2,123 |  |  | 53 |  |  | 301 |  |  | 7 |
Total global structured finance | 11,420 |  |  | 1,949 |  |  | 1,098 |  |  | 7 |
Global public finance | 24,146 |  |  | 309 |  |  | 335 |  |  | (1 | )
Total | $ | 35,566 |  |  | $ | 2,258 |  |  | $ | 1,434 |  |  | $ | 6 |
(1) | Maximum exposure to loss represents the maximum future payments of principal and interest on insured obligations and derivative contracts. Ambac’s maximum exposure to loss does not include the benefit of any financial instruments (such as reinsurance or hedge contracts) that Ambac may utilize to mitigate the risks associated with these variable interests.
(2) | Insurance assets represent the amount included in “Premium receivables” and “Subrogation recoverable” for financial guarantee insurance contracts on Ambac’s Consolidated Balance Sheets.
(3) | Insurance liabilities represent the amount included in “Loss and loss expense reserves” and “Unearned premiums” for financial guarantee insurance contracts on Ambac’s Consolidated Balance Sheets.
(4) | Net derivative assets (liabilities) represent the fair value recognized on credit derivative contracts and interest rate swaps on Ambac’s Consolidated Balance Sheets.
Components of VIE Gain (Loss) [Table Text Block] | The following table summarizes the carrying values of assets and liabilities, along with other supplemental information related to VIEs that are consolidated as a result of financial guarantees of Ambac UK and Ambac Assurance:
December 31, |  | 2019 |  | 2018
ASSETS: |  | Ambac UK |  | Ambac Assurance |  | Total VIEs |  | Ambac UK |  | Ambac Assurance |  | Total VIEs
Fixed income securities, at fair value: |  |  |  |  |  |  |  |  |  |  |  |
Corporate obligations, fair value option |  | $ | 2,957 |  |  | $ | — |  |  | $ | 2,957 |  |  | $ | 2,737 |  |  | $ | — |  |  | $ | 2,737 |
Municipal obligations, available-for-sale (1) |  | — |  |  | 164 |  |  | 164 |  |  | — |  |  | — |  |  | — |
Total FG VIE fixed income securities, at fair value |  | 2,957 |  |  | 164 |  |  | 3,121 |  |  | 2,737 |  |  | — |  |  | 2,737 |
Restricted cash |  | 1 |  |  | 1 |  |  | 2 |  |  | 1 |  |  | — |  |  | 1 |
Loans, at fair value (2) |  | 3,108 |  |  | — |  |  | 3,108 |  |  | 4,288 |  |  | — |  |  | 4,288 |
Derivative assets |  | 52 |  |  | — |  |  | 52 |  |  | 66 |  |  | — |  |  | 66 |
Other assets |  | 1 |  |  | 2 |  |  | 3 |  |  | 1 |  |  | — |  |  | 1 |
Total FG VIE assets |  | $ | 6,119 |  |  | $ | 167 |  |  | $ | 6,286 |  |  | $ | 7,093 |  |  | $ | — |  |  | $ | 7,093 |
LIABILITIES: |  |  |  |  |  |  |  |  |  |  |  |
Accrued interest payable |  | $ | 1 |  |  | $ | — |  |  | $ | 1 |  |  | $ | 1 |  |  | $ | — |  |  | $ | 1 |
Long-term debt: |  |  |  |  |  |  |  |  |  |  |  |
Long-term debt, at fair value (3) |  | 4,351 |  |  | — |  |  | 4,351 |  |  | 5,269 |  |  | — |  |  | 5,269 |
Long-term debt, at par less unamortized discount |  | — |  |  | 203 |  |  | 203 |  |  | — |  |  | — |  |  | — |
Total long-term debt |  | 4,351 |  |  | 203 |  |  | 4,554 |  |  | 5,269 |  |  | — |  |  | 5,269 |
Derivative liabilities |  | 1,657 |  |  | — |  |  | 1,657 |  |  | 1,712 |  |  | — |  |  | 1,712 |
Total FG VIE liabilities |  | $ | 6,009 |  |  | $ | 203 |  |  | $ | 6,212 |  |  | $ | 6,981 |  |  | $ | — |  |  | $ | 6,981 |
Number of FG VIEs consolidated |  | 6 |  |  | 1 |  |  | 7 |  |  | 7 |  |  | — |  |  | 7 |
(1) | Available-for-sale securities consist of municipal obligations with an amortized cost basis of $139 and aggregate gross unrealized gains and (losses) of $25 at December 31, 2019. All such securities had contractual maturities due after ten years as of December 31, 2019.
(2) | The unpaid principal balances of loan assets carried at fair value were $2,618 as of December 31, 2019 and $3,418 as of December 31, 2018.
(3) The unpaid principal balances of long-term debt carried at fair value were $3,800 as of December 31, 2019 and $4,553 as of December 31, 2018.

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