Date: November 5, 2008
For more information contact: Jim Guidry, (608) 264-6239 or jim.guidry@wisconsin.gov

Madison, WI—Wisconsin Insurance Commissioner, Sean Dilweg today issued the following statement regarding Ambac Assurance Corporation:

"Today, the Wisconsin Office of the Commissioner of Insurance (OCI) reviewed and approved a request by Ambac Assurance to provide an intercompany facility to support Ambac's financial products business in light of ratings downgrades by one of the rating agencies. OCI continues to closely monitor the financial condition of Ambac given the current economic environment."

Created by the Legislature in 1871, Wisconsin's Office of the Commissioner of Insurance (OCI) was vested with broad powers to ensure that the insurance industry responsibly and adequately met the insurance needs of Wisconsin citizens. Today, OCI's mission is to lead the way in informing and protecting the public and responding to its insurance needs.