LOS ANGELES — Ambac Financial Group, Inc. announced Monday that it has agreed to pay the Internal Revenue Service $101.9 million to settle the agency's $800 million claim against the firm, setting the stage for Ambac to emerge from bankruptcy, the firm said.

Under the agreement, Ambac will pay the IRS $1.9 million, and Ambac Assurance Corporation, its municipal bond insurer subsidiary, or the company's "segregated account" will pay $100 million — terms the company had offered the IRS more than a year ago.

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