Ambac Financial Group Inc., New York, said it expects to see second-quarter statutory loss and loss expenses that relate primarily to deterioration in second-lien and alternative-A credit securitized mortgage financial guarantee portfolios amount to $800 million.

The company said it also expects to see a more than $1 billion increase in its second-quarter statutory impairment losses. Ambac estimates the second quarter statutory impairment losses will increase by about $1.6 billion to roughly $4.9 billion.

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