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DISCONTINUED OPERATION - Net Income (Loss) from Discontinued Operations (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended
--- | --- | --- | ---
Mar. 31, 2025 | Sep. 30, 2025 | Dec. 31, 2025 | Dec. 31, 2024 | Dec. 31, 2023 | Dec. 31, 2021
EXPENSES: |  |  |  |  |  |
Net income (loss) from discontinued operations |  |  | $ (163,288) | $ (497,167) | $ 28,183 |
Net income (loss) attributable to Ambac common shareholders |  |  | (163,288) | (497,167) | $ 28,183 |
Ambac Assurance Corporation | Discontinued Operations, Held-for-Sale or Disposed of by Sale |  |  |  |  |  |
REVENUES: |  |  |  |  |  |
Net premiums earned |  |  | 15,145 | 23,879 |  | $ 26,040
Net investment income |  |  | 100,203 | 133,933 |  | 126,957
Net investment gains (losses), including impairments |  |  | (12,616) | 4,416 |  | (22,507)
Net gains (losses) on derivative contracts |  |  | 302 | 3,958 |  | (699)
Other revenues |  |  | 18,016 | 31,096 |  | 14,533
Total revenues |  |  | 121,050 | 197,282 |  | 144,324
EXPENSES: |  |  |  |  |  |
Loss and loss adjustment expenses (benefit) |  |  | 10,444 | (45,767) |  | (69,320)
Intangible amortization |  |  | 17,097 | 30,508 |  | 24,736
General & administrative and other expenses |  |  | 81,034 | 57,491 |  | 88,306
Interest expense |  |  | 47,617 | 63,587 |  | 64,025
Total expenses |  |  | 156,192 | 105,819 |  | 107,747
Pretax income (loss) |  |  | (35,142) | 91,463 |  | 36,577
Provision for income taxes |  |  | 10,678 | 18,485 |  | 8,394
Discontinued Operation, Income (Loss) from Discontinued Operation During Phase-out Period, Net of Tax |  | $ (117,468) | (117,468) |  |  |
Loss on disposal | $ 570,145 | $ 687,613 |  | (570,145) |  | 0
Net income (loss) from discontinued operations |  |  | $ (163,288) | $ (497,167) |  | $ 28,183

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