Ambac posts Q3 net income of $340M on $319M RMBS settlement gain; book value per share up 29%

OCTAVE SPECIALTY GROUP INC

2022-Q3 EPS reported $7.48 revenue$286,000,000

Net income of $340M ($7.41 diluted EPS); adjusted earnings of $338M ($7.37 diluted EPS).
$319M gain from $1.84B legacy RMBS litigation settlement with Bank of America; $78M remaining gain to be recorded in Q4 2022.
Book value per share $22.43; adjusted book value per share $23.13, up 34% from June 30, 2022.
Specialty P&C insurance production $58M, up 76% YoY; Insurance Distribution premiums placed $28.4M.
Redeemed $1.2B Sitka Notes and $213M Tier II Notes; acquired All Trans Risk Solutions and Capacity Marine.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

OCTAVE SPECIALTY GROUP INC reported third quarter ended September 30, 2022 results: net income $340 million, EPS $7.41.

Period: third quarter ended September 30, 2022
Net income: $340 million
EPS: $7.41
Result: reported results

Exact text from the filing

On November 8, 2022, Ambac Financial Group, Inc. issued a press release announcing financial results for its third quarter ended September 30, 2022.

View on SEC.gov

3 earnings releases filed in the last 30 days. Browse all earnings releases →

OCTAVE SPECIALTY GROUP INC filing history →

Source: SEC EDGAR

accession 0000874501-22-000157

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.