Ambac Financial Reports Q4 Adj. EPS Of $0.12 - Quick Facts

(RTTNews) - Ambac Financial Group, Inc. (AMBC) reported a net loss of $19.5 million, or $0.43 per diluted share for the fourth quarter of 2017. Adjusted earnings in the fourth quarter of 2017 were $5.5 million, or $0.12 per share. During the fourth quarter of 2017, net premiums earned were $31.5 million, while net investment income was $107.1 million.

Claude LeBlanc, President and CEO, stated, "We are extremely pleased with our successful achievements during the quarter in progressing our strategic priorities. On February 12, 2018, Ambac announced the exit from rehabilitation of the Segregated Account, a key milestone for unlocking long-term value for shareholders. The transaction will result in delivering an increase to Book Value of approximately $7.56 per share on a pro forma basis, which will be reflected in our first quarter 2018 results."