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By Mark E. Ruquet, PropertyCasualty360.com |
May 16, 2011
Two bond insurers reported first-quarter losses, with one of the companies, Ambac Financial Group, saying that it may have to liquidate pursuant to Chapter 7 if its reorganization plans are not successful.
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By Mark E. Ruquet, PropertyCasualty360.com |
April 25, 2011
Ambac Assurance’s segregated account will not begin to make claims payments beginning in May because regulatory officials are not comfortable with the company’s ability to pay claims, officials say.
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By Mark E. Ruquet, PropertyCasualty360.com |
March 21, 2011
Troubled New York-based bond insurer Ambac Financial Group said its Wisconsin subsidiary, Ambac Assurance, will begin paying policy claims out of its segregated account in May.
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By Phil Gusman, PropertyCasualty360.com |
January 27, 2011
The Wisconsin Office of the Commissioner of Insurance (OCI) said its plan to rehabilitate Ambac Assurance Corp., a Wisconsin subsidiary of New York-based bond insurer Ambac Financial Group, has been upheld by a circuit court judge.
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By Phil Gusman, PropertyCasualty360.com |
January 10, 2011
Former Wisconsin Insurance Commissioner Sean Dilweg was named vice president, product executive of Madison, Wis.-based CUNA Mutual Group.
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By Phil Gusman, PropertyCasualty360.com |
November 11, 2010
A policyholder group is criticizing the Wisconsin Office of the Commissioner of Insurance for not protecting Ambac Assurance Corporation policyholders after
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By Chad Hemenway, PropertyCasualty360.com |
November 9, 2010
Ambac Financial Group was not able to reach an agreement with debt holders and has filed for Chapter 11 bankruptcy relief.
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By Mark E. Ruquet, PropertyCasualty360.com |
October 11, 2010
Ambac claimants will receive cash and notes if a state court approves the Wisconsin Office of the Commissioner of Insurance's rehabilitation plan released Friday for the carrier's segregated account.
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By Mark E. Ruquet, PropertyCasualty360.com |
August 31, 2010
A group of policyholders sued Ambac Financial Group to prevent the corporation from taking funds from Ambac Assurance Corp. while it is in runoff.
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By Chad Hemenway, PropertyCasualty360.com |
August 16, 2010
Creditors could become the new owners of Ambac Financial Group under the company's restructuring plans as creditors exchange their debt for Ambac's common stock, according to Moody's.
