Profile picture of Ambac

Ambac

New York, NY
2 staff members
2.5 300 Reviews
Company Profile

Ambac Financial Group used to give an A+ to school bonds, until its own ratings fell to C's. Ambac Assurance, the holding company's primary subsidiary, sold financial guarantee insurance and other credit enhancement products for municipal bonds in the US market. However, the company has halted all new business and has placed its remaining business in "run-off" -- meaning it is only taking in premium payments and paying out claims as it is able. Already operating under "rehabilitation" by Wisconsin regulators, Ambac Financial filed for Chapter 11 bankruptcy in 2010.

Company size

201 to 500

Type

Company - Public (AMBC)

Revenue

$500 million to $1 billion (USD) per year

Industry

Insurance Carriers

Competitors

Unknown

Founded

1991

Company site

http://www.ambac.com

Staff Members
avatar
CEO
1.0
Worked since Friday, Mar 29 2024
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