AMBAC Financial Group Inc.

Public Company, Headquarters Location
1 State St. Plz., New York, NY 10004-1561, United States
(800)221-1854, (212)668-0340, (212)509-9190 fax, http://www.ambac.com

Primary SIC: Surety Insurance, Primary NAICS: Direct Property and Casualty Insurance Carriers
Description: Ambac Financial Group Inc., headquartered in New York City, is a holding company incorporated in the state of Delaware on April 29, 1991. Ambac's subsidiaries provide financial guarantees and financial services to clients in both the public and private sectors around the world. Ambac Assurance has two financial guarantee insurance operating subsidiaries: Ambac Assurance UK Limited and Everspan Financial Guarantee Corp. (previously Connie Lee Insurance Company). Ambac UK insures a wide array of obligations in the international markets including infrastructure financings, asset-securitizations, CDOs, utility obligations, whole business securitizations (e.g. securitizations of substantially all of the operating assets of a corporation) and other obligations, generally within Western Europe. Everspan is a financial guarantee insurance company that was purchased by Ambac Assurance in 1997 and placed into runoff. Ambac Assurance is seeking to capitalize and reactivate Everspan to allow it to write new financial guarantee business in the U.S. public finance and regulated utility markets. Through its financial services subsidiaries, Ambac provided financial and investment products, including investment agreements, funding conduits, interest rate, currency and total return swaps, principally to the clients of its financial guarantee business. During the first quarter of 2008, Ambac decided to discontinue writing new business in its financial services segment. More

Insurance: Underwriter of municipal bond insurance and provider of financial performance and credit information on hospitals and health care facilities.