Ambac Financial Group News

Insurance is only as good as the insurer backing it, the old saying goes. Last fall, we learned that the hard way with AIG .

Bond insurers were mixed during morning action Wednesday after Financial Guaranty Insurance Company, a leading company in the industry, was ordered by regulators to suspend all claim payments.

Ambac Financial said Tuesday that Chief Financial Officer Sean Leonard resigned effective immediately, a possible sign of continuing trouble at the bond insurer.

In Europe, the indexes closed up at the end of the day's trading, with the DAX leading the advance, up by 2.07%. FTSE 100 Jack Henrie writes: "We have the technology to get these numbers right -- not merely putting spins on not entirely accurate numbers." Hugo van Randwyck writes: "Politicians in Washington are not up to the job of questioning ...

Wisconsin Insurance Commissioner Sean Dilweg traveled to New York to meet with executives from Ambac Financial and the investment bank Jefferies yesterday.

Ambac Financial acknowledged in a regulatory filing that it misstated financial results for its bond-insurance business, an error that enabled the company to meet capital requirements in Wisconsin.

Ambac Financial Group Inc said on Wednesday that the statutory capital of its main unit was well above a regulatory minimum at the end of the third quarter, easing concerns the company would fall short of funds and risk being taken over by state officials.

Shares of U.S. financial stocks shook off early session losses Tuesday to close higher as the broader market took a breather from big gains on Monday.

Ambac Financial Group , unlike other financial companies, isn't in denial about the extent of its troubles -- it's just the opposite.

Although municipal bond insurers have been on life support for almost two years, Ambac Financial Group's revelation in a Nov.

It is one thing the government bails out businesses and tax payers eventually shoulder the burden, one way or another.

Assured Guaranty shares jumped as much as 25% Friday, rallying after the company's main bond-insurance units kept their Aa ratings from Moody's Investors Service.

Bond insurer Ambac Financial Group Inc. has warned of a prepackaged debt bankruptcy restructuring due to its inability to meet 2011 maturities, but some sources are skeptical that a restructuring will fundamentally improve its prospects as a going concern.

Financial stocks fell on Tuesday , dragging the broader market lower after financial guarantor Ambac said it may have trouble paying off debt due in 2011 and might need to file a prepackaged bankruptcy, while rival MBIA said the recession is still weighing down its business.

As the 10th anniversary of the Gramm-Leach-Bliley Act approaches, one U.S. stock market strategist says the latest attempts to reform the financial industry could also have unforeseen results, curbing enthusiasm for the sector.

Ambac Financial Group Inc. and MBIA Inc. , the two largest bond insurers, tumbled on concerns they wona t survive the U.S. housing rout without government intervention or the companies filing for bankruptcy protection.

Ambac Financial Group stated in a regulatory filing with the Securities and Exchange Commission that it may consider a prepackaged bankruptcy for restructuring its debt if its liquidity is depleted before the second quarter of 2011, CreditFlux reports.

Toll Bros. shares advanced in Tuesday's after-hours session after the home builder released preliminary quarterly results, and Adobe Systems Inc.

Commercial lender CIT Group Inc. said Friday that billionaire investor and bondholder Carl Icahn agreed to support the company's restructuring plan amid reports CIT may soon file for bankruptcy protection.

Ambac Financial Group Inc. said its liquidity could run out before the second quarter of 2011, and a prepackaged bankruptcy is one of the strategies it is considering to deal with liquidity needs.