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AMBAC TO MANAGE $1.36 BILLION INVESTMENT PORTFOLIO IN-HOUSE; FIRST BOND INSURER TO MANAGE ALL FUNDS INTERNALLY

 AMBAC TO MANAGE $1.36 BILLION INVESTMENT PORTFOLIO IN-HOUSE;
 FIRST BOND INSURER TO MANAGE ALL FUNDS INTERNALLY
 NEW YORK, July 16 /PRNewswire/ -- In a first for the bond insurance industry, AMBAC Inc. (NYSE: ABK) today announced that its wholly owned subsidiary, AMBAC Indemnity Corporation, has completed its plan to assume full in-house management of its $1.36 billion investment portfolio.
 Unlike other sectors of the financial services industry, including multi-line insurers, AMBAC invests only in fixed income securities, both taxable and tax-exempt. The average rating of AMBAC's investments is "AA+."
 The investment portfolio is a key element of AMBAC's claims-paying ability and is a significant contributor to net income and to future capital.
 AMBAC also announced that three executives recently joined the firm's investment management department. They are Adil A. Nathani, first vice president, Robert N. Roseman, first vice president, and Paul E. Brody, vice president. In announcing the appointments, AMBAC senior vice president and director of investment management, W. Dayle Nattress, said: "We are delighted to have hired a group of highly experienced individuals to complement our existing investment management team which includes Charles E.F. Sandmel, first vice president, Jo Ann L. Ciaramella, vice president, and Robert J. Gardella, vice president. AMBAC has successfully built a professional portfolio management team, expanded its capabilities within the taxable area and developed advanced portfolio analytics."
 AMBAC Inc. is the holding company for AMBAC Indemnity Corporation, a leading insurer of municipal bonds, and Health Care Investment Analysts, Inc. (HCIA), an AMBAC Information Company.
 -0- 7/16/92
 /CONTACT: Robert Genader of AMBAC, 212-668-0340/
 (ABK) CO: AMBAC Inc.; AMBAC Indemnity Corporation ST: New York IN: INS SU:


KD-CK -- NY112 -- 9985 07/16/92 16:58 EDT
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Copyright 1992 Gale, Cengage Learning. All rights reserved.

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Publication:PR Newswire
Date:Jul 16, 1992
Words:283
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