E
AMBAC ASSURANCE CORP
Data as of
December 31, 2021
NAIC
Classification
Risk Adjusted
Capital Ratio #1
Risk Adjusted
Capital Ratio #2
Loss
Ratio
Total
Assets
Capital
Net
Premiums
Net
Income
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Major Rating Factors: Poor long-term capitalization index (2.9 on a scale of 0 to 10) based on weak current risk adjusted capital (severe and moderate loss scenarios), although results have slipped from the fair range over the last two years. A history of deficient reserves (2.3). Underreserving can have an adverse impact on capital and profits. In 2020, the two year reserve development was 22% deficient.
Other Rating Factors: Weak profitability index (1.6) with operating losses during 2019, 2020 and 2021. Average return on equity over the last five years has been poor at -4.6%. overall results on stability tests (-0.5) including negative cash flow from operations for 2021 and weak risk adjusted capital in prior years. The largest net exposure for one risk is excessive at 128.9% of capital. Good liquidity (6.0) with sufficient resources (cash flows and marketable investments) to handle a spike in claims.
Stability Factors: C - Past results on our Risk-Adjusted Capital tests. F - Negative cash flow. R - Concerns about the financial strength of its reinsurers. T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business: Fin guar/surety (100.0%)
Licensed in: All states except TN
Principal Investments: Investment grade bonds (53.5%), non investment grade bonds (23.9%), cash (0.3%), other (22.3%)
Ratios
Premium to Surplus
Reserve to Surplus
1-Year Reserve Development
2-Year Reserve Development
Expense Ratio
Combined Ratio
Cash From Underwriting
Net Premium Growth
Investments in Affiliates
Corporate Info
Group Affiliation
AMBAC Financial Group Inc
Investment Rating
Company Address
2 East Mifflin St
Madison, WI 53703
Phone Number
(212) 658-7470
NAIC Number
18708
Largest Affiliates
A
SCOTTSDALE, AZ - P&C
U
PROVIDENCE, RI - P&C
Weiss Ratings