About Assured Guaranty
Assured Guaranty is the leading provider of financial guaranty insurance. We guarantee scheduled principal and interest payments when due on municipal, public infrastructure and structured financings. FFF
We have four principal operating subsidiaries:
Assured Guaranty Municipal Corp. (AGM) guarantees only U.S. municipal bonds and international infrastructure financings. It was named Financial Security Assurance Inc. (FSA) before becoming an Assured Guaranty company in July 2009. AGM is domiciled in New York.
Municipal Assurance Corp. (MAC) guarantees only select categories of U.S. municipal bonds. MAC is owned jointly by AGM and AGC and is domiciled in New York.
Assured Guaranty Corp. (AGC) is a diversified financial guarantor insuring both public finance and structured finance obligations, including asset-backed securities. Operating since 1988, AGC is domiciled in Maryland with headquarters in New York.
Assured Guaranty Re Ltd. (AG Re) is a Bermuda insurance company specializing in financial guaranty reinsurance. It is the world's largest financial guaranty reinsurer and serves both affiliated and non-affiliated insurance companies. Additionally, it owns, indirectly, 100% of Assured Guaranty Re Overseas Ltd. (AGRO), a Bermuda insurance company specializing in the reinsurance of non-financial guaranty business lines that fit within the Assured Guaranty Group’s overall risk appetite.
In the United States and a number of selected countries, we have long been committed to protecting debt holders from payment defaults and to helping issuers obtain cost-efficient access to capital. We also provide reinsurance to the financial guaranty industry.
Our value proposition goes beyond our promise to pay principal and interest to investors in guaranteed financings. We also provide credit underwriting, negotiated terms, surveillance and, if necessary, remediation of the bonds we insure. These benefits create greater value and liquidity for investors.
Issuers use our financial guarantees to lower their cost of funds, broaden distribution and diversify funding sources.
Assured Guaranty’s proven business model, disciplined risk management and successful surveillance, loss mitigation and acquisition strategies, along with our access to capital in debt and equity markets, enabled us to maintain a strong financial position during and since the Great Recession. From January 2008 through September 2016, there was an increase in the claims-paying resources of the Assured Guaranty Group (including AGM before Assured Guaranty acquired it) even though during that time we paid out $8.7 billion in gross direct policyholder claims, including $7.3 billion for residential mortgage-backed securities (RMBS, a sector in which Assured Guaranty no longer participates) and $0.6 billion for U.S. municipal bonds. Net of reinsurance and all other recoveries, these claims totaled $4.2 billion, of which $3.3 billion were for RMBS and $0.4 billion were for U.S. municipal bonds. Assured Guaranty is the only bond insurer that has paid claims and continued to write policies without interruption for three decades.
Assured Guaranty Ltd. is a Bermuda-based insurance holding company that trades on the New York Stock Exchange with the ticker symbol AGO. Together with its subsidiaries, we refer to it as Assured Guaranty.