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Ambac Financial Group history
Ambac Financial Group company history timeline
The company suffered a $1.9 million loss in 1974.
In 1981, MGIC lost its independence and its president.
MBIA usurped AMBAC as the leader in municipal bond insurance in 1984.
1985: Citibank gains majority control of Ambac.
AMBAC's share of the insured new municipal issue market was 26.2 percent in 1986.
Ambac's net premiums written exceeded $100 million in 1990.
1991: The parent company, Ambac Inc., goes public.
As a part of a streamlining effort, Lassiter took on the additional role of president in August 1992.
Finally, in 1994, the company began making municipal interest rate swaps, the only company of its type to do so.
The bankruptcy of Orange County, California, in 1994 was a double-edged sword for the industry.
1997: The company's name is changed to Ambac Financial Group, Inc.
Although growth continued to be strong, market penetration for new bond issues had reached about 50 percent by 1998.
Economic conditions helped drive up claims paid during 2003, but Ambac continued to produce strong growth and profit.
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Ambac Financial Group competitors
| Company name | Founded date | Revenue | Employee size | Job openings |
|---|---|---|---|---|
| MBIA | 1973 | $189.0M | 89 | - |
| Assured Guaranty | 1985 | $1.1B | 368 | 15 |
| Moody's | 1900 | $7.1B | 11,490 | 126 |
| IDB Bank | 1949 | $2.8B | 5,705 | 60 |
| KBI Global Investors | 1980 | $3.4M | 59 | - |
| MCG Capital Corp | 1990 | - | 5 | - |
| Sumitomo Mitsui Financial Group | 2002 | $48.0B | 103,000 | 30 |
| Neuberger Berman | 1939 | $2.8B | 2,000 | 184 |
| Natwest Group Holdings Corporation | 1996 | $54.0M | 59,200 | 13 |
| Scout Investments | 1928 | $17.0M | 175 | - |
Ambac Financial Group history FAQs
Zippia gives an in-depth look into the details of Ambac Financial Group, including salaries, political affiliations, employee data, and more, in order to inform job seekers about Ambac Financial Group. The employee data is based on information from people who have self-reported their past or current employments at Ambac Financial Group. The data on this page is also based on data sources collected from public and open data sources on the Internet and other locations, as well as proprietary data we licensed from other companies. Sources of data may include, but are not limited to, the BLS, company filings, estimates based on those filings, H1B filings, and other public and private datasets. While we have made attempts to ensure that the information displayed are correct, Zippia is not responsible for any errors or omissions or for the results obtained from the use of this information. None of the information on this page has been provided or approved by Ambac Financial Group. The data presented on this page does not represent the view of Ambac Financial Group and its employees or that of Zippia.
Ambac Financial Group may also be known as or be related to Ambac Assurance Corporation, Ambac Financial Group, Ambac Financial Group Inc, Ambac Financial Group Inc. and Ambac Financial Group, Inc.