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Investments (Tables)
 9 Months Ended
Sep. 30, 2025
Investments, Debt and Equity Securities [Abstract]  
Summary of Amortized Cost and Estimated Fair Value of Available-for-Sale Investments, Excluding VIE Investments Held by Successor Ambac, by Contractual Maturity
The amortized cost and estimated fair value of available-for-sale investments, at September 30, 2025, by contractual maturity, were as follows:
Amortized
Cost		Estimated
Fair Value
Due in one year or less$331,403 $331,164 
Due after one year through five years35,584 34,749 
Due after five years through ten years50,797 50,296 
Due after ten years978 987 
418,762 417,196 
Residential mortgage-backed securities3,265 3,294 
Commercial mortgage-backed securities1,827 1,819 
Collateralized debt obligations2,304 2,319 
Other asset-backed securities2,274 2,298 
$428,432 $426,926 
Summary of Gross Unrealized Losses and Fair Values of Ambac's Available-for-Sale Investments
The following table shows gross unrealized losses and fair values of Ambac’s available-for-sale investments, which at September 30, 2025, and December 31, 2024, did not have an allowance for credit losses. This information is aggregated by investment category and length of time that the individual securities have been in a continuous unrealized loss position, at September 30, 2025, and December 31, 2024:
September 30, 2025December 31, 2024
Less Than 12 Months12 Months or MoreTotalLess Than 12 Months12 Months or MoreTotal
Fair ValueGross
Unrealized
Loss		Fair ValueGross Unrealized LossFair ValueGross Unrealized LossFair 
Value		Gross
Unrealized
Loss		Fair 
Value		Gross
Unrealized
Loss		Fair 
Value		Gross
Unrealized
Loss
Fixed maturity securities:
Municipal obligations$318 $15 $6,191 $264 $6,509 $279 $6,042 $112 $6,582 $458 $12,624 $570 
Corporate obligations3,269 13 32,855 2,167 36,124 2,180 23,784 269 46,612 3,636 70,396 3,905 
U.S. government obligations3,012 34 13,064 171 16,076 205 15,919 344 14,818 465 30,737 809 
Residential mortgage-backed securities— — 1,722 14 1,722 14 2,446 29 — — 2,446 29 
Commercial mortgage-backed securities761 9 — — 761 9 738 34 — — 738 34 
Collateralized debt obligations390 — — — 390 — 655 2 — — 655 2 
Other asset-backed securities— — — — — — 1,428 2 — — 1,428 2 
7,750 71 53,832 2,616 61,582 2,687 51,012 792 68,012 4,559 119,024 5,351 
Short-term— — — — — — — — — — — — 
7,750 71 53,832 2,616 61,582 2,687 51,012 792 68,012 4,559 119,024 5,351 
Total temporarily impaired securities$7,750 $71 $53,832 $2,616 $61,582 $2,687 $51,012 $792 $68,012 $4,559 $119,024 $5,351 
Summary of Amounts Included in Net Realized (Losses) Gains and Other-Than-Temporary Impairments
The following table details investment gains (losses) and impairments included in earnings within Other revenues for the affected periods:
Three Months Ended September 30,Nine Months Ended September 30,
2025202420252024
Gross realized gains on securities$512 $4 $514 $6,066 
Gross realized losses on securities(5)— (7)(46)
Credit impairments— (581)— (2,061)
Net investment gains (losses), including impairments$507 $(577)$507 $3,959 
Equity Method Investments [Table Text Block] O
Summary of Net Investment Income
Net investment income (loss) was comprised of the following for the affected periods:
Three Months Ended September 30,Nine Months Ended September 30,
2025202420252024
Fixed maturity securities$1,192 $1,133 $4,063 $3,567 
Short-term investments1,344 2,495 3,991 8,072 
Loans24 — 93 — 
Investment expense(93)(84)(177)(276)
Securities available-for-sale and short-term2,467 3,544 7,970 11,363 
Other investments199 (56)120 (472)
Total net investment income (loss)$2,666 $3,488 $8,090 $10,891 
Debt Securities, Available-for-Sale
The amortized cost and estimated fair value of available-for-sale investments, at September 30, 2025, and December 31, 2024, were as follows:
September 30, 2025:December 31, 2024:
Amortized
Cost		Allowance for Credit Losses Gross UnrealizedEstimated
Fair Value		Amortized
Cost		Allowance for Credit LossesGross UnrealizedEstimated
Fair Value
GainsLossesGainsLosses
Fixed maturity securities:
Municipal obligations$11,689 $— $100 $279 $11,510 $14,646 — $7 $570 $14,083 
Corporate obligations72,280 — 590 2,180 70,690 92,990 — 107 3,905 89,192 
U.S. government obligations38,978 — 398 205 39,171 41,706 — 98 809 40,995 
Residential mortgage-backed securities3,265 — 43 14 3,294 2,475 — — 29 2,446 
Commercial mortgage-backed securities1,827 — 1 9 1,819 2,127 — 8 34 2,101 
Collateralized debt obligations2,304 — 15 — 2,319 3,131 — 13 2 3,142 
Other asset-backed securities2,274 — 24 — 2,298 5,049 — 14 2 5,061 
132,617 — 1,171 2,687 131,101 162,124 — 247 5,351 157,020 
Short-term295,815 — 10 — 295,825 127,588 — 13 — 127,601 
Total available-for-sale investments$428,432 $— $1,181 $2,687 $426,926 $289,712 — $260 $5,351 $284,621