NU Online News Service, March 23, 12:45 p.m. EDT

Ambac Financial Group Inc. reports a 2011 fourth-quarter net loss of more than $963 million as a combination of financial factors negatively impacted the company's earnings.

The New York-based bond insurer says its fourth-quarter net loss grew by $882 million compared to the 2010 fourth quarter because of “higher net loss and loss expenses, derivative-product losses and higher losses on variable-interest entities.”

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