Ambac Financial Group has reported third quarter 2011 net loss of $75.5m, or a net loss of $0.25 per share, compared to third quarter 2010 net income of $76.0m, or net income of $0.25 per share.
Net premiums earned for the third quarter of 2011 were $102.1m, down 29% from $143.1m earned in the third quarter of 2010.
Net investment income for the third quarter of 2011 was $81.6m, an increase of 17% over $69.8m earned in the third quarter of 2010.
According to the company, has reported total revenues of $257.1m for the third quarter of 2011, compared to 361.1m for the same period in 2010.
Loss and loss expenses for the three months ended 30 September 2011 was a net benefit of $60.2m as compared to a net loss of $165.4m for the three month period ending 30 September 2010.
Headquartered in New York City, Ambac Financial Group is a holding company whose affiliates provided financial guarantees and financial services to clients in both public and private sectors. It’s principal operating subsidiary, Ambac Assurance is a guarantor of public finance and structured finance obligations.