{"schema_version":"secwatch.filing_event.v1","accession":"0000874501-23-000090","form_type":"8-K","ticker":"OSG","cik":"0000874501","company_name":"OCTAVE SPECIALTY GROUP INC","filed_at":"2023-05-09T23:59:59+00:00","discovered_at":"2026-05-14T18:03:42.508064+00:00","generated_at":"2026-06-15T11:17:17.771444+00:00","sec_items":["2.02","9.01"],"event_type":"earnings","sentiment":"negative","materiality_score":0.7,"calibrated_materiality_score":0.7,"confidence":"high","headline":"Ambac reports Q1 net loss of $33M; specialty P&C production up 87% YoY","bullets":["Net loss of $33M (-$0.73 diluted EPS); adjusted net loss of $14M (-$0.30 per share).","Specialty P&C gross written premium $51.8M (+116% YoY); Distribution premiums placed $77.3M (+72%).","Legacy FG segment pretax loss of $32.1M, driven by $19.2M lower discount rates on RMBS reserves.","Adjusted book value per share $27.89, down 1% from prior quarter.","AAC repaid remaining $146M Tier 2 Notes in Jan; warrants with $16.67 strike expired unexercised Apr 30."],"urls":{"canonical":"https://secwatch.observer/filing/0000874501-23-000090","json":"https://secwatch.observer/filing/0000874501-23-000090.json","markdown":"https://secwatch.observer/filing/0000874501-23-000090.md","text":"https://secwatch.observer/filing/0000874501-23-000090.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/874501/000087450123000090/0000874501-23-000090-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/874501/000087450123000090/ambc-20230509.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-15T11:17:17.771444+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"ec0f18223701195efabcb7bbd1444ef484b07f53","claim":"OCTAVE SPECIALTY GROUP INC reported first quarter ended March 31, 2023 results: revenue Gross written premium $ 60.7, net income Net loss of $(33) million, EPS $(0.73) per diluted share.","evidence_excerpt":"market on our progress later this year.\" Ambac's First Quarter 2023 Summary Results B (W) Percent ($ in millions, except per share data) 1 1Q2023 1Q2022 Gross written premium $ 60.7 $ 30.3 101 % Net premiums earned 13.9 14.6 (5) % Commission income 14.5 8.6 69 % Program fees 1.5 0.3 485 % Net investment income 34.1 5.0 582 % Pretax income (loss) (28.8) 2.8 NA","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/874501/000087450123000090/0000874501-23-000090-index.htm","confidence":0.9,"family_label":"Earnings Releases","details":[{"label":"Period","value":"first quarter ended March 31, 2023"},{"label":"Revenue","value":"Gross written premium $ 60.7"},{"label":"Net income","value":"Net loss of $(33) million"},{"label":"EPS","value":"$(0.73) per diluted share"},{"label":"Result","value":"reported results"}],"fact_type":"earnings_release"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}