Other-Than-Temporary Impairment LossesOther-than-temporary impairment (“OTTI”) losses in the financial guarantee investment portfolio were $7.5 million in the second quarter of 2010, compared to OTTI losses of $675.4 million in the second quarter of 2009. The second quarter 2010 OTTI loss was driven primarily by impairment write downs on AAC-wrapped RMBS securities within its investment portfolio. The second quarter 2009 OTTI impairment loss was driven by write-downs of certain RMBS securities rated below investment grade and tax exempt securities within the investment portfolio that management intended to sell in connection with its revised investment strategies.
Ambac Financial Group, Inc. Announces Second Quarter 2010 Results
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