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Derivative Instruments
 9 Months Ended
Sep. 30, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Derivative Instruments
7.    DERIVATIVE INSTRUMENTS
The following tables summarize the gross fair values of individual derivative instruments and the impact of legal rights of offset as reported in the Consolidated Balance Sheets as of September 30, 2025, and December 31, 2024:
September 30, 2025December 31, 2024
Gross
Amounts of
Recognized
Assets /
Liabilities		Gross
Amounts
Offset in the
Consolidated
Balance Sheet		Net Amounts
of Assets/
Liabilities
Presented
in the Consolidated
Balance Sheet		Gross Amount
of Collateral
Received /
Pledged Not
Offset in the
Consolidated
Balance 
Sheet		Net
Amount		Gross
Amounts of
Recognized
Assets /
Liabilities		Gross
Amounts
Offset in the
Consolidated
Balance Sheet		Net Amounts
of Assets/
Liabilities
Presented
in the Consolidated
Balance Sheet		Gross Amount
of Collateral
Received /
Pledged Not
Offset in the
Consolidated
Balance 
Sheet		Net
Amount
Other assets:
FX forwards378 — 378 — 378 — — — — — 
Total derivative assets$378 $— $378 $— $378 $— $— $— $— $— 
Other liabilities:
FX forwards— — — — — 317 — 317 — 317 
Total derivative liabilities$— $— $— $— $— $317 $— $317 $— $317 
The following tables summarize the location and amount of gains and losses of derivative contracts in the Unaudited Consolidated Statements of Total Comprehensive Income (Loss) for the three and nine months ended September 30, 2025, and 2024:
Location of Gain (Loss)
Recognized in
Consolidated Statements of Total
Comprehensive Income (Loss)		Amount of Gain (Loss) Recognized in Consolidated Statement of Total Comprehensive Income (Loss)
Three Months Ended September 30,Nine Months Ended September 30,
2025202420252024
Derivatives:
WarrantsNet gains (losses) on derivative contracts— (2)— (110)
FX forwardsNet gains (losses) on derivative contracts21 6,547 1,128 6,143 
Total derivatives$21 $6,545 1,128 6,033 
Beat utilizes foreign exchange forward contracts to partially hedge its foreign currency exposure. Beat’s functional currency is the British Pound, but a significant portion of its revenues are generated in currencies other then the British Pound, particularly the US Dollar. Beat, therefore, typically enters into forward contracts to partially hedge its exposure to fluctuations in exchange rates relative to the British Pound. AFG used FX forward contracts to mitigate British Pound to US Dollar exchange risk leading up to its purchase of Beat in August 2024.
Ambac also holds warrants to purchase equity shares of a development stage company and was party to foreign exchange (FX) forward contracts in 2024.
Information about FX forward contracts as of September 30, 2025, and December 31, 2024, is summarized below:
Derivative TypeWeighted
Average
Remaining
Term
(years)		Face
Amount
(Buy)		Face
Amount
(Sell)		Fair Value
Asset
(Liability)
September 30, 2025
FX Forwards-Buy GBP/Sell USD0.223,925 5,000 378 
December 31, 2024
FX Forwards-Buy GBP/Sell USD0.6115,720 20,000 (317)