Ambac Financial Reports Net Loss in Q2

Recent Acquisition and Key Metrics

Ambac Financial Group Inc. (AMBC), a financial services holding company, announced its earnings for the quarter ended June 30, 2023.

The company reported a net loss of $28.6 million, an improvement from the net loss of $43.3 million reported for the same period in 2022.

The firm recently closed its acquisition of Beat Capital Partners, which is expected to contribute to future growth.

Ambac's loss ratio for the quarter was 6.66%, in line with the 6.53% reported for the first quarter of 2023. The company also reported a benefit of $35.34 million from incurred losses in the third quarter of 2022.