Troubled bond insurer Ambac Assurance Corp. posted a gain in its statutory surplus even as its bankrupt parent recorded a net loss in its fourth-quarter filing Wednesday.

Wisconsin-based Ambac Assurance — once the second-largest municipal bond insurer before deep exposure to mortgage debt crippled its resources — said its statutory surplus rose to $1.027 billion at year-end 2010 versus $912 million at the end of the third quarter.

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