When Ambac Financial Group Inc. missed the deadline to file its statutory capital to the Securities and Exchange Commission on Monday, analysts assumed the bond insurer had gone into deficit. Far from it. The company’s principal operating subsidiary nearly tripled its surplus in the third quarter, and in the current quarter it expects to benefit from a hefty government bailout.

Ambac Assurance Corp. reported a surplus of approximately $856 million as of Sept. 30, up from $305.6 million at the end of June, according to its 8K filing with the SEC yesterday.

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