Ambac Financial Group, Inc. · New York, NY United States ·(NYSE: ABK)
Company Description
Phone: 212-668-0340
Fax: 212-509-9190
Toll Free: 800-221-1854
View Ambac Financial Group, Inc. Locations On A US Map
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This link will open in a new window Ambac Financial Group gives an A+ to those school bonds. Ambac Assurance, the holding company's primary subsidiary, sells financial guarantee insurance and other credit enhancement products for municipal bonds in the US market. In the international market the company insures high-quality infrastructure, structured finance, and utility finance transactions. Its financial services segment, through Ambac Financial Services, offers investment contracts, interest rate swaps, credit swaps, and investment management primarily to states and municipal authorities in connection with their bond financing. To read the full description, subscribe now.
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Key Ambac Financial Group, Inc. Financials
| Company Type | Public - NYSE: ABK Headquarters |
| Fiscal Year-End | December |
| 2008 Sales (mil.) | -$2,753.5 |
| 2008 Employees | 328 |
Ambac Financial Group, Inc. Executives
27 executives listed for Ambac Financial Group, Inc.'s New York, NY location.
| Title | Name & Bio | Contact |
| Chairman | Michael Callen | Network |
| President, CEO, and Director | David Wallis | Network |
| SVP and CFO | Sean Leonard | Network |
Competition
Competitive Landscape for Ambac Financial Group, Inc.
Demand is driven by demographics and commercial transactions. Demand is also driven by legal or financial requirements. Consumers are usually required by states to buy auto insurance and by lenders to buy homeowners insurance, for example. The profitability of individual companies depends on effective marketing and on the ability to accurately estimate future payments. Large companies have big economies of scale in administration and in access to capital, as well as advertising and marketing. Small companies can compete successfully by specializing in particular products or industries. Average annual revenue per worker is around $400,000, so the industry is not labor-intensive. In the late 2000s recession, insurers saw revenues decline sharply when their investment portfolios lost value after the market fell. Insurance carriers rely heavily on their investment portfolios, which is where they invest premiums collected until they are needed to pay claims or benefits. In addition, deregulation of the insurance and financial services industries led to increased risk taking that hurt insurers' credit ratings. Insurance giant AIG was forced to accept $150 billion in government loans to stave off bankruptcy that was brought on by its overexposure to credit default swaps. Federal government bailouts have primarily targeted banks. Aside from AIG, insurance companies have not been as hard hit by the subprime mortgage meltdown. But some insurance companies are seeking relief from state regulators to allow them to operate with less capital. Other insurance companies are buying financial institutions to qualify for federal aid. To read the full description, subscribe now.Top Ambac Financial Group, Inc. Competitors
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