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DISCONTINUED OPERATION - Assets and Liabilities Held-for-Sale (Details) - USD ($) $ in Thousands | Dec. 31, 2024 | Dec. 31, 2023 | Dec. 31, 2022
--- | --- | --- | ---
ASSETS: |  |  |
Total assets held-for-sale | $ 6,267,200 | $ 7,516,456 | $ 7,291,949
LIABILITIES: |  |  |
Total liabilities held-for-sale | 5,887,685 | 6,541,866 |
Ambac Assurance Corporation | Discontinued Operations, Held-for-Sale or Disposed of by Sale |  |  |
ASSETS: |  |  |
Total investments | 2,226,505 | 2,309,967 |
Cash and equivalents | 8,322 | 9,152 |
Premiums receivable | 217,096 | 243,710 |
Reinsurance recoverable on paid and unpaid losses | 25,274 | 29,518 |
Deferred ceded premiums | 79,074 | 93,264 |
Subrogation recoverable | 113,962 | 137,219 |
Intangible assets | 213,457 | 245,133 |
Other assets, net | 49,396 | 54,091 |
Restricted cash | 57,754 | 246,031 |
VIE assets (including restricted cash of $57,754 and $246,031) | 3,904,259 | 4,394,402 |
Valuation allowance on assets held-for-sale | (570,145) | 0 |
Total assets held-for-sale | 6,267,200 | 7,516,456 |
LIABILITIES: |  |  |
Unearned premiums | 228,177 | 266,727 |
Loss and loss adjustment reserves | 577,167 | 695,859 |
Ceded premiums payable | 56,404 | 60,627 |
Long-term debt and accrued interest | 1,046,658 | 983,069 |
Other liabilities, net | 105,772 | 131,294 |
VIE liabilities | 3,873,507 | 4,404,290 |
Total liabilities held-for-sale | $ 5,887,685 | $ 6,541,866 |

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