Ambac
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May 16 (Reuters) - Wisconsin's insurance commissioner on Wednesday said he asked a state judge for permission to pay out about $800 million to policyholders of a unit of bankrupt bond insurer Ambac Financial Group Inc. Theodore Nickel, the ...
May 16, 2012 at 22:34 | Source: Reuters
NEW YORK, May 23, 2012 (BUSINESS WIRE) -- Ambac Assurance Corporation ("Ambac Assurance") today announced that the Wisconsin Commissioner of Insurance, acting in his capacity as the Rehabilitator of the Segregated Account of Ambac Assurance, has ...
May 23, 2012 at 22:40 | Source: Marketwatch
While bond insurer Ambac Assurance Corp. (AAC) has been paying policyholder claims for the last several years, its related segregated account branch has not been doing so. On Wednesday the Wisconsin Commissioner of Insurance applied to a ...
May 17, 2012 at 18:50 | Source: Structured Finance News
Law360, New York (May 17, 2012, 5:45 PM ET) -- The Wisconsin insurance commissioner on Wednesday filed a proposal to start making interim payments on $3.2 billion worth of claims Ambac Assurance Corp. policyholders have lodged against a segregated account ...
May 17, 2012 at 21:42 | Source: site.law360.com
The series A bonds retain an unconditional and irrevocable payment guarantee of scheduled interest and principal provided by Ambac Assurance U.K. Ltd. (Ambac; not rated), and by MBIA U.K. Insurance Ltd. (MBIA; B/Negative/--) for the series B bonds.
May 25, 2012 at 13:19 | Source: Life Style Extra
The series A bonds retain an unconditional and irrevocable payment guarantee of scheduled interest and principal provided by Ambac Assurance U.K. Ltd. (Ambac; not rated) and by MBIA U.K. Insurance Ltd. (MBIA; B/Negative/--) for the series B bonds.
May 11, 2012 at 09:18 | Source: Reuters UK
DEBT SERVICE RESERVE FUND The bonds have a debt service reserve fund whereby AMBAC serves as the surety bond provider sized at maximum annual debt service. Fitch does not assign any value to the AMBAC surety bond and does not rely on its ...
May 17, 2012 at 15:37 | Source: Boston Globe
Such forbearance managed to save Assured from incurring the severe rating downgrades that had been imposed on the industry-leading competitors MBIA and Ambac, which in turn has basically driven these two former market leaders into a critical runoff.
May 24, 2012 at 15:50 | Source: Seekingalpha.com
Just as critical was the sudden lack of faith in bond insurance. Eager to increase revenues and profits, AMBAC and MBIA, the leading providers of third-party muni-bond insurance, had branched out into other sectors of the bond market ...
May 10, 2012 at 10:59 | Source: Yahoo Finance
The paper yields 8.5%. Other large creditors include Bank of New York Mellon, U.S. Bank, and several bond insurers including MBIA and Ambac. Fannie Mae/Freddie Mac regulator, the Federal Housing Finance Agency, is also listed as a top creditor.
May 16, 2012 at 16:21 | Source: Structured Finance News