Anbac Financial Group,Inc.is the second-largest insurer of municipal bonds in the world.Anbac is expanding its insurance services from governmental accounts to include private developers of sports stadiums and similar large multi-use facilities.According to Ansoff's strategic opportunity matrix,what type of strategy would Anbac be implementing?

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Anbac is implementing a market development strategy by expanding its existing insurance services (municipal bond insurance) to a new market segment (private developers of sports stadiums and similar large multi-use facilities).