NU Online News Service, July 13, 1:52 p.m. EDT
Ambac says it hopes it can reach an agreement with Wisconsin's insurance commissioner that will allow the company to file its bankruptcy reorganization plan.
Outlining the current impasse, a company spokesman issued a statement saying that it is in the interest of the Wisconsin Office of the Commissioner of Insurance to minimize the amount that Wisconsin-based Ambac Assurance Corp. pays to its parent, New York-based Ambac Financial Group Inc. (AFG), for the tax benefits associated with the net operating losses (NOLs are operating losses that a company may apply against taxable income in future periods in order to reduce its federal income tax liability).
Recommended For You
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
