Z.B hier....Financial Guarantee Insured Portfolio
The financial guarantee insurance portfolio net par amount outstanding declined 7.5% during the quarter ended September 30, 2018, to $52.2 billion from $56.5 at June 30, 2018. The reduction in the insured portfolio was primarily related to a decrease of $1.6 billion in the international finance sector related to the negotiated termination of an asset backed policy (consolidated VIE) and the maturity of a utility policy; a decrease of $1.5 billion in the public finance portfolio related to calls and maturities; and a decrease of $1.1 billion in the structured finance sector due to active de-risking, via a student loan commutation and reinsurance of a structured finance exposure, coupled with continued policy paydowns.
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Reinsurance Agreement
As part of Ambac's active risk mitigation efforts, in November 2018, AAC ceded the full amount of certain public finance insurance policies to a third party reinsurer, totaling $1.5 billion of performing par exposure (principal and interest of $3.4 billion), which was mostly comprised of policies on non-callable capital appreciation bonds and includes $241 million par of Adversely Classified and Watch List Credits.
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