Ambac Rocky Balboa oder chapter 11
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noch runter gehen wie schon geschrieben aber Zahlen kommen ja noch
somit ist Spannung und Phantasie gewährleistet
willkommen abk-cooler naikiou
Jul 21, 2009, 1:13 p.m. EST
Radian commutes $9.8 bln Ambac portfolioExplore related topics
Radian Group AMBAC Financial Group Inc Story Quotes Comments Screener Alert Email Print ShareBy Sue Chang 10%5%0%-5%-10%10a11a12p1p2p3pRDN ABK SAN FRANCISCO (MarketWatch) -- Radian Group Inc. /quotes/comstock/13*!rdn/quotes/nls/rdn (RDN 2.35, -0.08, -3.29%) said Tuesday that its subsidiary, Radian Asset Assurance, entered into a Commutation and Release Agreement with Ambac Assurance Corp. and Ambac Assurance UK Ltd. on July 20 to commute $9.8 billion of Radian Asset's reinsurance portfolio assumed from Ambac /quotes/comstock/13*!abk/quotes/nls/abk (ABK 0.95, -0.02, -2.06%) . The agreement, effective as of July 1, provides for Radian Asset to make a $100 million settlement payment to Ambac, including a refund of unearned premium reserves and payment of statutory loss reserves. The commutation, which represents 99.7% of the insured portfolio previously assumed from Ambac, lowers Radian Asset's total insured portfolio by 10%, including a decrease of 42% in Radian Asset's exposure to mortgage-backed securities.
Cool bleiben und die dips sehen und nachkaufen das ist meine devise für abk trade die soße schon seit letztem Jahr
Grüße
Paco
Ambac’s shareholders’ equity has continued to deteriorate. Residential Mortgage Backed Securities (RMBS) portfolios, especially Alt-A exposures, and reduced capitalization pose serious challenges to the company’s business. Deteriorating market share and a turbulent financial market only magnifies the threat. Though the company’s claims-paying resources amounted to about $12 billion as of March 31, 2009, we believe barring a significant rebound in the subprime mortgage market, Ambac could easily become insolvent over time.
MBI has also been reporting negative results since 2H07. The bond insurer is facing continued deterioration in its insured portfolio of structured credits with stress reaching sectors beyond residential mortgage-related securities.
Presently both the bond insurers are in run-off mode, where an insurer stops writing new business but continues to pay out on existing liabilities.
Municipal bond insurance business may provide relief to these ailing bond insurers. In view of potential demand for muni bond insurance business, ABK as well as MBI have launched separate units -- National Public Finance Guaranty Corp. and Everspan, respectively, have been repositioned to write new business.
Entry of newcomer Berkshire Hathaway (BRK.A) Assurance Corp. in the municipal bond insurance market means more competition for ABK and MBI. We believe that as both the two biggest bond insurers have been stripped off their AAA credit status, it will not be long before Berkshire captures their market share to emerge as a leading bond insurer.
die obige News .......Ambac could easily become insolvent over time.......sieht ja nicht positiv aus...
Halte mich daher (noch) zurück.......(Shorter machens dazu noch der Aktie schwer...IMO)
Viel Glück..
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Wertpapier: Ambac Financial Group |
Ambac Announces Second Quarter Estimate of Credit Derivative Impairment and Loss and Loss Expenses
Announces Discontinuance of Dividends on Ambac Assurance Corporation Preferred Shares and Interest on Ambac Financial Group, Inc.’s Directly-Issued Subordinated Capital Securities
Schedules Second Quarter Earnings Release for August 5, 2009
Press Release
Source: Ambac Financial Group, Inc.
On Monday July 27, 2009, 5:20 pm EDT
Buzz up! 0 Print
Companies:Ambac financial group, inc.
NEW YORK--(BUSINESS WIRE)--Ambac Financial Group, Inc. (NYSE: ABK - News) (Ambac) today announced that Ambac Assurance Corporation (AAC), its principal operating subsidiary, expects to report that estimated statutory impairment losses on credit derivatives increased by approximately $1.6 billion in the second quarter to approximately $4.9 billion at June 30, 2009. Additionally, AAC expects to report statutory loss and loss expenses incurred amounting to approximately $800 million for the quarter ended June 30, 2009. The increase in impairment losses, which relate to AAC’s insured portfolio of collateralized debt obligations of asset-backed securities transactions (CDOs of ABS), was driven by rising forward LIBOR rates, which increase estimated future cash outflows, and further deterioration of the underlying collateral within the CDO of ABS transactions. The statutory loss and loss expenses relate primarily to deterioration in AAC’s second-lien and Alt-A mortgage-backed securities financial guarantee portfolios.
Related Quotes
Symbol Price Change
ABK 0.95 +0.01
{"s" : "abk","k" : "c10,l10,p20,t10","o" : "","j" : ""} The increase in the estimated impairment losses in the second quarter is net of the impact of a settlement that reduced a significant portion of exposure under a CDO of ABS transaction that closed in July and a commutation of all of the exposure under a different CDO of ABS transaction that we expect will close by the end of July. The two transactions, with an aggregate of approximately $2.8 billion net notional outstanding at March 31, 2009, are expected to be settled with counterparties for a total cash payment of approximately $750 million.
Estimated impairment losses on credit derivatives is a statutory accounting measurement reported in AAC’s statutory filings as “Estimated impairment losses on subsidiary guarantees and commitments.” An increase in estimated impairment losses is recorded as a reduction to statutory income and therefore reduces statutory surplus. At March 31, 2009, AAC reported statutory capital and surplus of $372.8 million and contingency reserves of $1,946.6 million. AAC has requested the approval of the Office of the Commissioner of Insurance of the State of Wisconsin (OCI) to release a substantial portion of its contingency reserves, however, there can be no assurance that the OCI will approve such release. The amount of contingency reserves released, if any, will increase AAC’s statutory capital and surplus by such amount.
At March 31, 2009, AAC reported total claims-paying resources of approximately $11.9 billion. Total claims-paying resources will be reduced by commutation and settlement payments related to the CDO of ABS portfolio, including the two transactions referred to above, and claims paid related to the direct financial guarantee portfolio since March 31, 2009. Total claims-paying resources is a term used by rating agencies and other analysts to quantify total resources available to pay claims in stress case scenarios and represents an aggregate of contingency reserves, capital and surplus, unearned premiums, losses and loss adjustment expenses, estimated impairment losses on credit derivatives and the present value of future installment premiums. Except for the present value of future installment premiums, each item is a statutory accounting measurement.
Under U.S. generally accepted accounting principles (GAAP), Ambac reports unrealized gains (losses) on credit derivative contracts which is impacted by market valuations of the CDO exposures and includes the effect of AAC’s own credit default swap spreads in the measurement. This mark-to-market valuation often differs significantly from the statutory measure of impairment discussed above. For the second quarter of 2009, Ambac expects to report a net unrealized gain of approximately $34 million for GAAP reporting purposes. Ambac also expects to report total net loss and loss expenses of approximately $1.3 billion for the second quarter of 2009 for GAAP reporting purposes.
Ambac also announced that, in order to preserve cash at Ambac Financial Group, Inc., it will discontinue paying the semi-annual interest on its directly-issued subordinated capital securities (DISCs) beginning August 1, 2009. Additionally, to preserve cash and surplus at AAC, it will discontinue paying the monthly dividend on AAC’s outstanding auction market preferred shares beginning August 1, 2009.
Ambac is providing this preliminary information about its second quarter results prior to the scheduled earnings announcement date in light of market events of recent months. Investors should not expect Ambac to provide information about the results of future quarters in advance of scheduled quarterly earnings announcement dates. In addition, investors should not expect Ambac to update the information provided in this release in advance of the scheduled announcement date for its second quarter financial results.
Second Quarter Earnings Release and Conference Call
Ambac will host a conference call on August 5, 2009 at 11:00 a.m. Eastern time to discuss second quarter 2009 earnings, which are scheduled to be released at 8:30 a.m. Eastern time on that day. The dial in number for the call is 877-407-9210 (U.S.) and 201-689-8049 (outside the U.S.).
The conference call will also be broadcast live on Ambac’s web site at www.ambac.com.
Beginning at 2:00 p.m. Eastern time on August 5 through August 14, the conference call will be available in replay. The replay numbers are 877-660-6853 (U.S.) and 201-612-7415 (outside the U.S.). The account and confirmation numbers for the replay are 286 and 327951, respectively. A recording will also be available on Ambac’s web site approximately one hour after the end of the conference call.
About Ambac
Mon Jul 27, 2009 11:25pm EDT Email | Print | Share| Reprints | Single Page[-] Text [+]
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More Business & Investing News... * Credit derivative losses rise by $1.6 billion in Q2
* Ambac suspends some interest, dividend payments
* Shares fall 24.2 percent after-hours
By Jonathan Stempel
NEW YORK, July 27 (Reuters) - Bond insurer Ambac Financial Group Inc (ABK.N) reported $1.6 billion of new losses from derivatives at its main operating unit, as the credit quality worsened on mortgage securities it guaranteed.
The New York-based company said the increase boosts statutory writedowns on a credit derivatives portfolio of Ambac Assurance Corp, the operating unit, to about $4.9 billion.
Separately, Ambac said it will stop paying interest on some subordinated debt and dividends on some preferred shares to save cash.
Shares of Ambac fell 24.2 percent to 72 cents in after-hours trading from their close of 95 cents in regular trading.
The writedowns add to the financial stress at Ambac, which has been essentially unable to write new business because of mortgage-related losses. Last month, the company shelved plans to create a new municipal bond insurance unit Everspan, because it could not raise enough money from outside investors.
Ambac said the new writedowns stem in part from the deteriorating quality of the second-lien and "Alt-A" mortgage-backed securities that Ambac guaranteed.
It also said the writedowns come amid expectations that some interest rates will rise, resulting in an increase in estimated future cash outflows.
The company said Ambac Assurance unit ended March with $11.9 billion of claims-paying resources, an amount that will be reduced by some payments related to the derivatives.
Ambac, MBIA Inc (MBI.N) and many competitors lost their "triple-A" ratings after venturing beyond low-risk municipal bond insurance, and providing guarantees of payments on riskier mortgage securities. That move backfired as housing prices tumbled and defaults soared.
Ambac said it does not plan to update its financial status before it reports second-quarter results on August 5. (Reporting by Jonathan Stempel; editing by Carol Bishopric)
Die Meldungen waren nicht gut......ich warte mal noch weiter ab....
Viel Glück!
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Wertpapier: Ambac Financial Group |
Schaffen die den "turn" oder doch Insolvenz?
Tyko
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Wertpapier: Ambac Financial Group |
wenns Peanuts für Dich sind ok.....
ist ja alles relativ.......
halte weiter auf WL.....kostet zumindest keine Nerven....und verlier nix.
:-))
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Wertpapier: Ambac Financial Group |
aber wie du sagst alles ist relativ..bin selbst nur mit ner kleinen summe drin...
20 k bei 0,35 Euro gekauft sind schon weniger oder?
alles relativ kommt immer auf den Ein und Ausstieg an
hatte auch schon mal 20 k bei 1,50 gekauft die wurden aber oben versilbert
ich denke die Soße ist raus und der Kurs hat sich sogar über 0,76 eingependelt
werde wahrscheinlich heute und in den nächsten Tagen zukaufen unter 0,6 muss ich noch kaufen da ich ja 11k bei 0,74 vor 10 Tagen verkauft habe
also ich werde aufstocken
Grüße
Paco
Die Regierung wird die Versicherer auch noch bosstenwartet mal ab
und der Kurs fällt noch nicht mal großartig als ob dies schon eingepreist ist
also wie gesagt immer auf der Hut sein
jeder muss selbst entscheiden
Grüße
Paco
wenn ich Mut hätte würde ich eher shorten als long gehen....
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Wertpapier: Ambac Financial Group |
Tue Jul 28, 2009 6:39pm EDT Email | Print | Share| Reprints | Single Page[-] Text [+]
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More Business & Investing News... NEW YORK, July 28 (Reuters) - Standard & Poor's on Tuesday cut its ratings on Ambac Financial Group (ABK.N) and its insurance arm to a deeply speculative grade, and said the insurer's policyholder surplus is likely to have fallen below regulatory minimums.
S&P slashed Ambac Assurance Corp's counterparty credit rating eleven notches to CC -- 10 steps below investment grade, and reflecting a high risk of regulatory intervention. Ambac Financial's rating was also cut eight notches to the same level.
Ambac's policyholder surplus was $371 million as of March 31. This surplus, however, could turn negative after accounting for new losses the company is expected to take from insuring risky mortgage loans, S&P said.
The company said on Monday it expects to report around $1.6 billion in mortgage-related losses in the second quarter. For details, see [ID:nN27547188]
"The additional reserves will have a significant negative effect on operating results, which we believe will likely cause surplus to decline to below regulator-required minimums," S&P said in a statement.
Last month, S&P cut Ambac Assurance to BBB and warned the insurer has "negligible" prospects for writing new business.
Ambac said that its insurance arm has petitioned the insurance regulator in Wisconsin to release "a substantial portion" of its contingency reserves, though there is no assurance this request will be approved.
Ambac's contingency reserves as of March 31, 2009, were approximately $1.9 billion, S&P said.
S&P said it may raise Ambac's ratings if the regulator approves the request, though they are unlikely to be upgraded above CCC, eight steps below investment grade and still an extremely speculative ranking. (Reporting by Karen Brettell; Editing by Jan Paschal)
Märkte geschockt
Der krisengeschüttelte US-Anleihenversicherer Ambac hat die Märkte mit weiteren Abschreibungen in Milliardenhöhe geschockt. Bei der wichtigsten Sparte Ambac Assurance Corp sei der Abschreibungsbedarf im zweiten Quartal um 1,6 Milliarden Dollar (1,121 Mrd. Euro) wegen neuer Verluste bei Kreditderivaten gestiegen, teilte das New Yorker Unternehmen am Montag mit. Zudem wolle Ambac die Zinszahlungen für einige nachrangige Kredite aussetzen.
Um Bargeld zu bewahren, solle zudem keine Dividende für einige Vorzugsaktien gezahlt werden. Ambac und der grössere US-Konkurrent MBIA waren durch ihr Engagement im Bereich von schlecht besicherten Hypotheken in den Strudel der Finanzkrise geraten.
Die Ambac-Aktie brach im nachbörslichen Handel um 24,2 Prozent auf 72 Cent ein
Thu Jul 30, 2009 11:03am EDT Email | Print | Share| Reprints | Single Page[-] Text [+]
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More Business & Investing News... NEW YORK, July 30 (Reuters) - Ambac Financial Group's (ABK.N) insurance arm is at high risk of regulatory intervention, which in turn is increasing the likelihood that counterparties to the insurer will need to tear up contracts they hold with the firm at a large loss, Moody's Investors Service said.
Moody's late on Wednesday cut its ratings on Ambac Assurance Corp by five notches to Caa2, eight steps below investment grade and a deeply speculative rating.
The move came after Ambac said on Monday it expects to report around $1.6 billion in mortgage-related losses in the second quarter. For details, see [ID:nN27547188]
"These losses would reduce Ambac's regulatory capital to levels below the required minimum threshold," Moody's said in a statement.
Ambac has been decimated by insurance it sold on risky mortgages via collateralized debt obligations (CDOs) backed by credit default swaps.
"With the risk of regulatory intervention now elevated, Moody's believes there will be increased pressure on Ambac's counterparties to commute outstanding exposures on terms that could imply a distressed exchange," Moody's said.
Ambac said on Monday that its expected loss for the second quarter excluded the impact of some agreements the company made with counterparties to tear up two CDO exposures this month.
The company will pay around $750 million to tear up $2.8 billion in notional exposures via these CDOs, it said.
Moody's also cut Ambac Financial's ratings by three notches to Ca, ten steps below investment grade, saying the unit would be less likely to access resources at Ambac Assurance going forward.
This raises the risk that the parent company will launch an exchange on its outstanding debt at less than its par value, Moody's said.
Ambac said that its insurance arm has petitioned the insurance regulator in Wisconsin to release "a substantial portion" of its contingency reserves, though there is no assurance this request will be approved.
Standard & Poor's on Tuesday slashed Ambac Assurance's counterparty credit rating eleven notches to CC -- 10 steps below investment grade, reflecting a high risk of regulatory intervention. [ID:nN28285452]
(Reporting by Karen Brettell;)