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Business and Basis of Presentation Background and Business Description - Additional Information (Details) |  | 9 Months Ended
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Jul. 31, 2024 USD ($) | Sep. 30, 2024 USD ($) level3FinancialInstruments
Background And Basis Of Presentation [Line Items] |  |
Entity Incorporation, Date of Incorporation |  | Apr. 29, 1991
Number of Admitted Carriers Owned | level3FinancialInstruments |  | 5
Number of Reportable Segments | level3FinancialInstruments |  | 3
Short-Term Debt |  | $ 148,000,000
Short Term Debt Duration Fee |  | $ 0.01
Background and Business Description |  | 1. BUSINESS AND BASIS OF PRESENTATION Business The following description provides an update of Note 1. Background and Business Description and Note 2. Basis of Presentation and Significant Accounting Policies in the Notes to the Consolidated Financial Statements included in Part II, Item 8 in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023, and should be read in conjunction with the complete descriptions provided in the Form 10-K. Capitalized terms used, but not defined herein, and in the other footnotes to the Consolidated Financial Statements included in this Quarterly Report on Form 10-Q shall have the meanings ascribed thereto in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023. Ambac Financial Group, Inc. (“AFG”), headquartered in New York City, is an insurance holding company incorporated in the state of Delaware on April 29, 1991. References to “Ambac,” the “Company,” “we,” “our,” and “us” are to AFG and its subsidiaries, as the context requires. Ambac's principal businesses include: •Specialty Property & Casualty Insurance — Ambac's Specialty Property & Casualty Insurance program business currently includes five carriers (collectively, “Everspan”). Everspan carriers have an A.M. Best rating of 'A-' (Excellent) which was affirmed on June 13, 2024. Effective September 1, 2024, Consolidated National Insurance Company ("CNIC"), an admitted Everspan carrier, was sold and a gain on the sale of approximately $7 was recognized in other income on the Consolidated Statements of Total Comprehensive Income (Loss) for the three and nine months ended September 30, 2024. The sale of CNIC will not have any adverse impact on the group's operations or growth prospects. •Insurance Distribution — Ambac's specialty property and casualty ("P&C") insurance distribution business, includes Managing General Agents and Underwriters (collectively "MGAs"), an insurance broker, and other distribution and underwriting businesses. Insurance Distribution includes Beat Capital Partners Limited, which was acquired on July 31, 2024. At September 30, 2024, Ambac's insurance distribution platform operates in the following lines of business: property, niche specialty risk, accident & health, miscellaneous specialty, reinsurance, marine & energy, specialty auto, other professional and professional Directors & Officers ("D&O") . •Legacy Financial Guarantee Insurance — Ambac's legacy financial guarantee business includes the activities of Ambac Assurance Corporation ("AAC") and its wholly owned subsidiaries, including Ambac Assurance UK Limited (“Ambac UK”) and Ambac Financial Services LLC ("AFS"). Both AAC and Ambac UK (the "Legacy Financial Guarantee Companies") have financial guarantee insurance portfolios that have been in runoff since 2008. AFS provided interest rate derivatives to financial guarantee customers and used derivatives to hedge interest rate risk in AAC's insurance and investment portfolios. AFS's remaining derivative positions include a limited number of legacy customer swaps and their associated hedges. The Company reports these three business operations as segments; see Note 2. Segment Information for further information.
Subsequent Event |  |
Background And Basis Of Presentation [Line Items] |  |
Business Combination, Credit Facility Cash Used for Beat Acquisition | $ 147,000,000 |
Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate | Current Rate |  |
Background And Basis Of Presentation [Line Items] |  |
Short-Term Debt, Percentage Bearing Variable Interest Rate |  | 4.50%
Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate | First Rate Increase |  |
Background And Basis Of Presentation [Line Items] |  |
Short-Term Debt, Percentage Bearing Variable Interest Rate |  | 5.50%
Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate | Second Rate Increase |  |
Background And Basis Of Presentation [Line Items] |  |
Short-Term Debt, Percentage Bearing Variable Interest Rate |  | 6.50%
Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate | Third Rate Increase |  |
Background And Basis Of Presentation [Line Items] |  |
Short-Term Debt, Percentage Bearing Variable Interest Rate |  | 7.50%
Specialty Property & Casualty Program |  |
Background And Basis Of Presentation [Line Items] |  |
Gain (Loss) on Disposition of Stock in Subsidiary |  | $ 7,000,000

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