May 10 (Reuters) - Ambac Financial Group Inc
* Ambac announces first quarter 2017 results
* Q1 adjusted loss per share $2.01
* Q1 loss per share $2.77
* Ambac Financial Group Inc- Book value per share decreased $2.02 to $35.92 at March 31, 2017
* Ambac Financial Group Inc - Qtrly net premiums earned $ 47.6 million versus $ 49.9 million in Q4
* Ambac Financial Group Inc says "our results this quarter were heavily influenced by an increase in reserves related to Puerto Rico"
* Ambac - Q1 net loss of $125.4 million and adjusted loss of $91.2 million primarily as a result of adverse reserve development for Puerto Rico
* Says co is "aggressively pursuing loss mitigation strategies in Puerto Rico"
* Says "actively monitoring situation in Puerto Rico and taking appropriate measures" Source text for Eikon: Further company coverage: