v3.26.1
Fair Value Measurements (Tables)
 6 Months Ended
Jun. 30, 2026
Fair Value Disclosures [Abstract]  
Summary of Carrying Amount and Fair Value of Ambac's Financial Assets and Liabilities
The following table sets forth the carrying amount and fair value of Octave's financial assets and liabilities as of June 30, 2026 and December 31, 2025, including the level within the fair value hierarchy at which fair value measurements are categorized. As required by the Fair Value Measurement Topic of the ASC, financial assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement.
June 30, 2026December 31, 2025
Carrying
Amount		Total Fair
Value		Fair Value Measurements Categorized as:Carrying
Amount		Total Fair
Value		Fair Value Measurements Categorized as:
Level 1Level 2Level 3Level 1Level 2Level 3
Financial assets:
Fixed maturity securities:
Municipal obligations$10,091 $10,091 $— $10,091 $— $11,590 $11,590 $— $11,590 $— 
Corporate obligations73,204 73,204 — 73,204 — 66,573 66,573 — 66,573 — 
U.S. government obligations40,816 40,816 40,816 — — 35,424 35,424 35,424 — — 
Residential mortgage-backed securities2,428 2,428 — 2,428 — 1,597 1,597 — 1,597 — 
Commercial mortgage-backed securities4,848 4,848 — 4,848 — 3,341 3,341 — 3,341 — 
Collateralized debt obligations1,368 1,368 — 1,368 — 1,975 1,975 — 1,975 — 
Other asset-backed securities1,386 1,386 — 1,386 — 1,795 1,795 — 1,795 — 
Short term investments82,513 82,513 82,513 — — 146,442 146,442 146,442 — — 
Other investments (1)
25,015 7,498 — — — 24,971 7,454 — — — 
Cash, cash equivalents and restricted cash79,096 79,096 79,096 — — 68,440 68,440 68,440 — — 
Derivative assets:
FX forward contracts63 63 — 63 — — — — — — 
Total financial assets$320,828 $303,311 $202,425 $93,388 $— $362,148 $344,631 $250,306 $86,871 $— 
Financial liabilities:
Long term debt, including accrued interest$155,486 $158,527 $— $— $158,527 $118,901 $121,343 $— $— $121,343 
Derivative liabilities:
FX forward contracts— — — — — 8 8 — 8 — 
Total financial liabilities$155,486 $158,527 $— $— $158,527 $118,909 $121,351 $— $8 $121,343 
(1)Excluded from the fair value measurement categories in the table above are investment funds of $7,498 and $7,454 as of June 30, 2026 and December 31, 2025, respectively, which are measured using NAV as a practical expedient. Also excluded from the fair value amounts in the table above are private preferred equity securities with a carrying value of $17,517 and $17,517 as of June 30, 2026 and December 31, 2025, respectively, that do not have readily determinable fair values and have carrying amounts determined using the measurement alternative.