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Segment Reporting
 6 Months Ended
Jun. 30, 2025
Segment Reporting [Abstract]  
Segment Reporting Disclosure
2.    SEGMENT INFORMATION
The Company reports its results of continuing operations in two segments: Specialty Property and Casualty Insurance and Insurance Distribution. These reportable segments offer distinct products and services as further described in Note 1. Background and Business Description. The operating entities within each segment are wholly or majority owned by separate intermediate holding companies: Everspan Holdings, LLC for Specialty Property and Casualty Insurance and Cirrata Group, LLC for Insurance Distribution. The Company's segments have separate management teams with incentive compensation structures based on segment level performance. Financial reporting for each segment is regularly provided to the Company's Chief Executive Officer, who is the chief operating decision maker ("CODM") for purposes of monitoring the businesses, assessing performance and allocating resources.
The following tables summarize the components of the Company’s total revenues and expenses, and pretax income (loss) by reportable business segment. Information provided below for “Corporate and Other” primarily relates to the operations of AFG, which will include investment income on its investment portfolio and costs to maintain the operations of AFG, including public company reporting, capital management and business development costs for the acquisition and development of new business initiatives. As a result of the Company reporting the results of operations of AAC as discontinued operations, certain corporate costs charged to AAC totaling $2,502 and $3,636 for the three months ended June 30, 2025 and 2024 and $5,265 and $7,581 for the six months ended June 30, 2025 and 2024, respectively, have been reported in Net income from continuing operations on the Consolidated Statements of Total Comprehensive Income and included in Corporate and Other in the tables below.
Three Months Ended June 30, 2025Three Months Ended June 30, 2024
Reportable SegmentsReportable Segments
Specialty Property & Casualty InsuranceInsurance DistributionCorporate & OtherTotalSpecialty Property & Casualty InsuranceInsurance DistributionCorporate & OtherTotal
Revenues:
Net premiums earned$16,203 $16,203 $27,054 $27,054 
Commissions$30,322 30,322 $13,221 13,221 
Servicing and other fees4,472 4,472 — — 
Program fees3,497 3,497 3,328 3,328 
Investment income1,748 340 $521 2,609 1,465 77 $2,221 3,763 
Other(58)(2,093)5 (2,146)(19)8 3,682 3,671 
Total revenues from continuing operations (1)
21,390 33,041 526 54,957 31,828 13,306 5,904 51,037 
Less:
Losses and loss adjustment expenses10,978 10,978 23,024 23,024 
Policy acquisition costs3,699 3,699 5,399 5,399 
Commissions7,403 7,403 7,888 7,888 
Intangible amortization and depreciation9,301 440 9,741 — 1,153 461 1,614 
Interest5,570 5,570 — — 
Compensation expense2,605 14,455 5,722 22,782 3,090 2,290 5,697 11,077 
Non Compensation expense3,488 6,485 7,787 17,759 1,412 718 14,654 16,784 
Total expenses from continuing operations20,770 43,214 13,949 77,931 32,925 12,049 20,812 65,786 
Segment pretax income (loss)620 (10,173)(13,423)(22,974)(1,097)1,257 (14,908)(14,749)
Segment income tax expense (benefit)192 (2,181)(183)(2,172)(27)9 (12)(30)
Segment net income (loss)428 (7,992)(13,240)(20,802)(1,070)1,248 (14,896)(14,719)
Segment net (income) loss attributable to noncontrolling interest— 254 254 — (213)(213)
Net income (loss) attributable to Ambac shareholders$428 $(7,738)$(13,240)(20,548)$(1,070)$1,035 $(14,896)(14,932)
Reconciliation to consolidated net income (loss) attributable to Ambac stockholders
Discontinued operations(52,151)14,182 
Net income (loss) attributable to Ambac shareholders$(72,699)$(750)
Reconciliation of segment assets to consolidated total assets
Total assets$847,647 $975,843 $62,041 $1,885,531 $713,421 $155,223 $216,113 $1,084,757 
Discontinued operations6,636,855 7,099,591 
Total consolidated assets$8,522,386 $8,184,348 
EBITDA Reconciliation
Segment net income (loss)$428 $(7,992)$(13,240)$(20,802)$(1,070)$1,248 $(14,896)$(14,719)
Adjustments:
Interest expense— 5,570 — 5,570 — — — — 
Income taxes192 (2,181)(183)(2,172)(27)9 (12)(30)
Depreciation— — 440 440 — 14 461 475 
Intangible amortization— 9,301 — 9,301 — 1,139 — 1,139 
EBITDA620 4,698 (12,983)(7,663)(1,097)2,404 (14,441)(13,135)
Add: Impact of noncontrolling interests— (2,185)— (2,185)— (430)— (430)
Ambac EBITDA$620 $2,513 $(12,983)$(9,848)$(1,097)$1,974 $(14,441)$(13,565)
Six Months Ended June 30, 2025Six Months Ended June 30, 2024
Reportable SegmentsReportable Segments
Specialty Property & Casualty InsuranceInsurance DistributionCorporate & OtherTotalSpecialty Property & Casualty InsuranceInsurance DistributionCorporate & OtherTotal
Revenues:
Net premiums earned$31,881 $31,881 $52,633 $52,633 
Commissions$67,093 67,093 $30,950 30,950 
Servicing and other fees9,436 9,436 — — 
Program fees7,149 7,149 5,895 5,895 
Investment income3,590 716 $1,118 5,424 2,864 127 $4,412 7,403 
Other(59)(3,206)(5)(3,270)(23)94 3,636 3,707 
Total revenues from continuing operations (1)
42,561 74,039 1,113 117,713 61,370 31,171 8,048 100,588 
Less:
Losses and loss adjustment expenses21,474 21,474 42,379 42,379 
Policy acquisition costs7,540 7,540 9,823 9,823 
Commissions17,768 17,768 17,710 17,710 
Intangible amortization and depreciation18,173 745 18,917 2,299 926 3,228 
Interest11,024 11,024 — — 
Compensation expense6,116 27,988 11,566 45,669 4,851 4,592 12,187 21,630 
Non Compensation expense5,309 11,502 16,590 33,402 3,595 1,301 18,910 23,806 
Total expenses from continuing operations40,439 86,455 28,901 155,794 60,649 25,902 32,025 118,576 
Segment pretax income (loss)2,122 (12,416)(27,788)(38,081)721 5,269 (23,977)(17,988)
Segment income tax expense (benefit)270 (2,681)(378)(2,789)79 127 (106)100 
Segment net income (loss)1,852 (9,735)(27,410)(35,292)642 5,142 (23,871)(18,088)
Segment net (income) loss attributable to noncontrolling interest— (1,400)(1,400)2 (916)— (914)
Net income (loss) attributable to Ambac shareholders$1,852 $(11,135)$(27,410)(36,692)$644 $4,226 $(23,871)(19,002)
Reconciliation to consolidated net income (loss) attributable to Ambac stockholders
Discontinued operations(82,398)38,322 
Net income (loss) attributable to Ambac shareholders$(119,090)$19,320 
EBITDA Reconciliation
Segment net income (loss)$1,852 $(9,735)$(27,410)$(35,292)$642 $5,142 $(23,871)$(18,088)
Adjustments:
Interest expense— 11,024 — 11,024 — — — — 
Income taxes270 (2,681)(378)(2,789)79 127 (106)100 
Depreciation— 109 744 853 — 21 926 947 
Intangible amortization— 18,064 — 18,064 — 2,278 — 2,278 
EBITDA2,123 16,781 (27,044)(8,140)721 7,565 (23,047)(14,762)
Add: Impact of noncontrolling interests— (7,205)— (7,205)— (1,350)— (1,350)
Ambac EBITDA$2,123 $9,576 $(27,044)$(15,345)$724 $6,215 $(23,048)$(16,112)
(1)Inter-segment revenues and inter-segment pre-tax income (loss) amounts are insignificant and are not presented separately.