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Investments (Tables) | 3 Months Ended
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Mar. 31, 2026
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, by contractual maturity, were as follows:
|  | March 31, 2026 |  |  |  |  |  |  |  |
|  | Amortized Cost |  | Estimated Fair Value |  |  |  |  |  |  |  |
Due in one year or less |  | $ | 117,446 |  |  | $ | 117,313 |  |  |  |  |  |  |  |  |
Due after one year through five years |  | 47,546 |  |  | 45,845 |  |  |  |  |  |  |  |  |
Due after five years through ten years |  | 55,344 |  |  | 55,042 |  |  |  |  |  |  |  |  |
Due after ten years |  | 550 |  |  | 553 |  |  |  |  |  |  |  |  |
|  | 220,886 |  |  | 218,753 |  |  |  |  |  |  |  |  |
Residential mortgage-backed securities |  | 2,643 |  |  | 2,627 |  |  |  |  |  |  |  |  |
Commercial mortgage-backed securities |  | 5,002 |  |  | 4,985 |  |  |  |  |  |  |  |  |
Collateralized debt obligations |  | 1,626 |  |  | 1,630 |  |  |  |  |  |  |  |  |
Other asset-backed securities |  | 1,380 |  |  | 1,392 |  |  |  |  |  |  |  |  |
Total available-for-sale investments |  | $ | 231,537 |  |  | $ | 229,387 |  |  |  |  |  |  |  |  |
|  | December 31, 2025
|  | Amortized Cost |  | Estimated Fair Value
Due in one year or less |  | $ | 180,013 |  |  | $ | 179,824 |
Due after one year through five years |  | 32,409 |  |  | 31,588 |
Due after five years through ten years |  | 47,801 |  |  | 47,619 |
Due after ten years |  | 979 |  |  | 998 |
|  | 261,202 |  |  | 260,029 |
Residential mortgage-backed securities |  | 1,604 |  |  | 1,597 |
Commercial mortgage-backed securities |  | 3,307 |  |  | 3,341 |
Collateralized debt obligations |  | 1,963 |  |  | 1,975 |
Other asset-backed securities |  | 1,772 |  |  | 1,795 |
Total |  | $ | 269,848 |  |  | $ | 268,737 |
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 Octave's available-for-sale investments, which at March 31, 2026 and December 31, 2025, did not have an allowance for credit losses under the CECL standard. This information is aggregated by investment category and length of time that the individual securities have been in a continuous unrealized loss position, at March 31, 2026 and December 31, 2025:
|  | March 31, 2026 |  | December 31, 2025
|  | Less Than 12 Months |  | 12 Months or More |  | Total |  | Less Than 12 Months |  | 12 Months or More |  | Total
|  | Fair Value |  | Gross Unrealized Loss |  | Fair Value |  | Gross Unrealized Loss |  | Fair Value |  | Gross Unrealized Loss |  | Fair Value |  | Gross Unrealized Loss |  | Fair Value |  | Gross Unrealized Loss |  | Fair Value |  | Gross Unrealized Loss
Fixed maturity securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Municipal obligations |  | $ | 532 |  |  | $ | 20 |  |  | $ | 4,904 |  |  | $ | 197 |  |  | $ | 5,436 |  |  | $ | 217 |  |  | $ | 535 |  |  | $ | 16 |  |  | $ | 5,820 |  |  | $ | 212 |  |  | $ | 6,355 |  |  | $ | 228 |
Corporate obligations |  | 22,033 |  |  | 249 |  |  | 26,654 |  |  | 2,000 |  |  | 48,687 |  |  | 2,249 |  |  | 1,807 |  |  | 10 |  |  | 30,751 |  |  | 1,932 |  |  | 32,558 |  |  | 1,942 |
U.S. government obligations |  | 14,522 |  |  | 124 |  |  | 6,770 |  |  | 94 |  |  | 21,292 |  |  | 218 |  |  | 2,206 |  |  | 14 |  |  | 9,491 |  |  | 117 |  |  | 11,697 |  |  | 131 |
Residential mortgage-backed securities |  | 473 |  |  | 8 |  |  | 1,454 |  |  | 13 |  |  | 1,927 |  |  | 21 |  |  | — |  |  | — |  |  | 1,596 |  |  | 7 |  |  | 1,596 |  |  | 7 |
Commercial mortgage-backed securities |  | 2,518 |  |  | 40 |  |  | — |  |  | — |  |  | 2,518 |  |  | 40 |  |  | 763 |  |  | 8 |  |  | — |  |  | — |  |  | 763 |  |  | 8 |
Collateralized debt obligations |  | 68 |  |  | — |  |  | — |  |  | 1 |  |  | 68 |  |  | 1 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Other asset-backed securities |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
|  | 40,146 |  |  | 441 |  |  | 39,782 |  |  | 2,305 |  |  | 79,928 |  |  | 2,746 |  |  | 5,311 |  |  | 48 |  |  | 47,658 |  |  | 2,268 |  |  | 52,969 |  |  | 2,316 |
Short-term |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
|  | 40,146 |  |  | 441 |  |  | 39,782 |  |  | 2,305 |  |  | 79,928 |  |  | 2,746 |  |  | 5,311 |  |  | 48 |  |  | 47,658 |  |  | 2,268 |  |  | 52,969 |  |  | 2,316 |
Total temporarily impaired securities |  | $ | 40,146 |  |  | $ | 441 |  |  | $ | 39,782 |  |  | $ | 2,305 |  |  | $ | 79,928 |  |  | $ | 2,746 |  |  | $ | 5,311 |  |  | $ | 48 |  |  | $ | 47,658 |  |  | $ | 2,268 |  |  | $ | 52,969 |  |  | $ | 2,316 |
Summary of Amounts Included in Net Realized (Losses) Gains and Other-Than-Temporary Impairments | The following table details amounts included in net investment gains (losses) and impairments included in Revenues, other, on the Consolidated Statements of Income (Loss) for the three months ended March 31, 2026 and 2025:
Three Months Ended March 31, |  | 2026 |  | 2025 |  |  |  |
Gross realized gains on securities |  | $ | 5 |  |  | $ | — |  |  |  |  |
Gross realized losses on securities |  | (2) |  |  | (3) |  |  |  |  |
Credit impairments |  | — |  |  | — |  |  |  |  |
Net investment gains (losses), including impairments |  | $ | 3 |  |  | $ | (3) |  |  |  |  |
Equity Method Investments [Table Text Block] | O
Summary of Net Investment Income | Net investment income (loss) was comprised of the following for the three months ended March 31, 2026 and 2025:
Three Months Ended March 31, |  | 2026 |  | 2025 |  |  |  |
Fixed maturity securities |  | $ | 1,211 |  |  | $ | 1,400 |  |  |  |  |
Short-term investments |  | 1,244 |  |  | 1,457 |  |  |  |  |
Loans |  | — |  |  | 35 |  |  |  |  |
Investment expense |  | (100) |  |  | 2 |  |  |  |  |
Securities available-for-sale and short-term |  | 2,355 |  |  | 2,894 |  |  |  |  |
Other investments |  | — |  |  | (79) |  |  |  |  |
Total net investment income (loss) |  | $ | 2,355 |  |  | $ | 2,815 |  |  |  |  |
Debt Securities, Available-for-Sale | The amortized cost and estimated fair value of available-for-sale investments, at March 31, 2026 and December 31, 2025, were as follows:
|  | March 31, 2026: |  | December 31, 2025:
|  | Amortized Cost |  | Allowance for Credit Losses |  | Gross Unrealized |  | Estimated Fair Value |  | Amortized Cost |  | Allowance for Credit Losses |  | Gross Unrealized |  | Estimated Fair Value
|  |  |  | Gains |  | Losses |  |  |  |  | Gains |  | Losses |
Fixed maturity securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Municipal obligations |  | $ | 10,606 |  |  |  |  | $ | 87 |  |  | $ | 217 |  |  | $ | 10,476 |  |  | $ | 11,697 |  |  | — |  |  | $ | 121 |  |  | $ | 228 |  |  | $ | 11,590 |
Corporate obligations |  | 78,891 |  |  |  |  | 298 |  |  | 2,249 |  |  | 76,940 |  |  | 67,881 |  |  | — |  |  | 634 |  |  | 1,942 |  |  | 66,573 |
U.S. government obligations |  | 39,094 |  |  |  |  | 166 |  |  | 218 |  |  | 39,042 |  |  | 35,190 |  |  | — |  |  | 365 |  |  | 131 |  |  | 35,424 |
Residential mortgage-backed securities |  | 2,643 |  |  |  |  | 5 |  |  | 21 |  |  | 2,627 |  |  | 1,604 |  |  | — |  |  | — |  |  | 7 |  |  | 1,597 |
Commercial mortgage-backed securities |  | 5,002 |  |  |  |  | 23 |  |  | 40 |  |  | 4,985 |  |  | 3,307 |  |  | — |  |  | 42 |  |  | 8 |  |  | 3,341 |
Collateralized debt obligations |  | 1,626 |  |  |  |  | 5 |  |  | 1 |  |  | 1,630 |  |  | 1,963 |  |  | — |  |  | 12 |  |  | — |  |  | 1,975 |
Other asset-backed securities |  | 1,380 |  |  |  |  | 12 |  |  | — |  |  | 1,392 |  |  | 1,772 |  |  | — |  |  | 23 |  |  | — |  |  | 1,795 |
Total fixed maturity securities |  | 139,242 |  |  | — |  |  | 596 |  |  | 2,746 |  |  | 137,092 |  |  | 123,414 |  |  | — |  |  | 1,197 |  |  | 2,316 |  |  | 122,295 |
Short-term investments |  | 92,295 |  |  | — |  |  | — |  |  | — |  |  | 92,295 |  |  | 146,434 |  |  | — |  |  | 8 |  |  | — |  |  | 146,442 |
Total available-for-sale investments |  | $ | 231,537 |  |  | $ | — |  |  | $ | 596 |  |  | $ | 2,746 |  |  | $ | 229,387 |  |  | $ | 269,848 |  |  | — |  |  | $ | 1,205 |  |  | $ | 2,316 |  |  | $ | 268,737 |

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