<< Read Full Article
<< Read Full Article
Ambac Terminates Transactions With RAM Reinsurance
Stock quotes in this article:
ABK
- Loading Comments...
NEW YORK (AP) — Bond insurer Ambac Financial Group Inc. said Wednesday it has terminated all reinsurance transactions with RAM Reinsurance Co. in an effort to reduce counterparty risk.
Ambac said the termination reflects the recapture of roughly $7 billion of par outstanding, of which about two-thirds is classified as public finance exposure.
The remainder of the portfolio totals roughly $2.4 billion. The settlement payment to Ambac is expected to total about $97 million. ...
Recent Comments
| Dow Jones | S&P 500 | NASDAQ | 10-Year Note | |
|---|---|---|---|---|
| 10,501.05 | 1,114.11 | 2,212.10 | 35.46 |
Oil *
71.84
|
|
UP
29.55
|
UP
7.70
|
UP
21.79
|
UP
0.06
|
10 Yr
3.55%
SPDR Gold
110.24
|
|
+0.28%
|
+0.70%
|
+0.99%
|
+0.17%
|
Data delayed 20 minutes |
Connect with TheStreet