---
schema_version: "secwatch.filing_event.v1"
accession: "0000874501-23-000123"
form_type: "8-K"
ticker: "OSG"
cik: "0000874501"
company_name: "OCTAVE SPECIALTY GROUP INC"
filed_at: "2023-08-07T23:59:59+00:00"
generated_at: "2026-06-12T05:22:54.217472+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Ambac Q2 net loss $13M, adjusted net income $3M; P&C production up 45% YoY

## Summary
- Net loss of $13M ($0.29 diluted EPS); adjusted net income $3M ($0.07 diluted EPS).
- Specialty P&C gross written premium $53M (+30% YoY); Insurance Distribution premiums placed $41M (+71%).
- Legacy FG net par outstanding reduced 9.3% to $20.4B; WLACC down 19.6% to $6.1B.
- Reinsurance de-risking transaction ceded $2.1B net par, reduced adjusted book value by $48M ($1.06/share).
- Repurchased 205,000 shares at avg $14.42; warrants expired unexercised.

## SEC filing metadata
- accession: 0000874501-23-000123
- form_type: 8-K
- ticker: OSG
- cik: 0000874501
- company_name: OCTAVE SPECIALTY GROUP INC
- filed_at: 2023-08-07T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/874501/000087450123000123/0000874501-23-000123-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/874501/000087450123000123/ambc-20230807.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000874501-23-000123
- JSON: https://secwatch.observer/filing/0000874501-23-000123.json
- Plain text: https://secwatch.observer/filing/0000874501-23-000123.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.