Ambac Financial Posts Loss In Q1 - Quick Facts

(RTTNews) - Ambac Financial Group, Inc. (AMBC) reported a net loss attributable to stockholders of $280 million or $6.07 per share and an adjusted loss of $265 million or $5.75 per share for the quarter ended March 31, 2020. During the first quarter, net premiums earned were $10 million. Net investment loss was $21 million, for the quarter.

Claude LeBlanc, CEO, said, "Our results for the first quarter of 2020 primarily reflect the sharp decline in interest rates and increase in financial market volatility stemming from the COVID-19 pandemic and resulting global recession."