Ambac Reports Second Quarter 2020 Results
Ambac Financial Group, Inc. (AMBC)
US:NASDAQ Investor Relations:
ir.ambac.com/investor-relations
Company Research
Source: Business Wire
NEW YORK--(BUSINESS WIRE)--Ambac Financial Group, Inc. (NYSE:AMBC) ("Ambac"), a financial services holding company whose subsidiaries include run-off financial guarantee businesses, Ambac Assurance Corporation ("AAC") and Ambac Assurance UK Limited ("Ambac UK"), today reported a Net Loss attributable to common stockholders of $35 million or $0.77 per diluted share and an Adjusted Loss(1) of $24 million or $0.52 per diluted share for the quarter ended June 30, 2020. This compares to a Net Loss attributable to common stockholders of $280 million or $6.07 per diluted share and an Adjusted Loss of $265 million or $5.75 per diluted share in the first quarter of 2020. Book Value per Share increased $1.46 to $23.34 and Adjusted Book Value per Share(1) decreased $1.05 to $21.06 at June 30, 2020 from March 31, 2020.The lower net loss for the second quarter of 2020 compared to the first quarter of 2020 included lower loss and loss expenses and reflected the impact of the partial reversal of
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