History of Assured Guaranty

  • January 1988 Capital Reinsurance Company, the predecessor to Assured Guaranty Corp. (AGC), began operations as a financial guaranty reinsurer.
  • March 1994 KRE Reinsurance Ltd., a Bermuda insurance company, commenced operations (name changed to Assured Guaranty Re Overseas Ltd. in 2004).
  • December 1999 ACE Limited acquired Capital Re Corp., the parent of Capital Reinsurance Company.
  • August 2003 Assured Guaranty Ltd. was established to serve as the holding company for its insurance operating subsidiaries: AGC, Assured Guaranty Re Ltd. (AG Re) and Assured Guaranty Re Overseas Ltd.
  • December 2003 ACE Limited filed for an initial public offering (IPO) of Assured Guaranty Ltd..
  • April 2004 Assured Guaranty Ltd. went public at a price of $18.00 per common share and was listed on the New York Stock Exchange under the ticker symbol AGO.
  • July 2004 The UK Financial Services Authority authorized Assured Guaranty (UK) Ltd. (now named Assured Guaranty (UK) plc) to write financial guarantees in the United Kingdom, creating an ability to “passport” to the rest of the European Union.
  • December 2006 Assured Guaranty Ltd. purchased $150 million of its common shares from ACE Limited, financed by a $150 million issuance of junior subordinated debt
  • October 2007 By obtaining its Wisconsin license, Assured Guaranty Corp. completed its licensing process in all 50 US states, Puerto Rico and the District of Columbia.
  • December 2007 AG Re reinsured an Ambac insured portfolio totaling $29 billion in par.
  • February 2008 WL Ross & Co. committed to purchase up to $1 billion of Assured Guaranty Ltd. common shares.
  • April 2008 WL Ross & Co. purchased $250 million of Assured Guaranty Ltd. common shares.
  • October 2008 AGC agreed to reinsure approximately $13 billion of US public finance debt insured by CIFG Assurance North America.
  • November 2008 Assured Guaranty announced a definitive agreement to acquire Financial Security Assurance Holdings Ltd. (FSAH) and Financial Security Assurance Inc. (FSA), excluding FSAH’s financial products business.
  • July 2009 After a successful offering of common shares and equity units, Assured Guaranty completed the acquisition of FSAH and FSA, thereby bringing under one roof the two financial guarantors that successfully navigated the global credit crisis. This added San Francisco to the cities where Assured Guaranty has a presence. FSAH was subsequently renamed Assured Guaranty Municipal Holdings Inc. (AGMH), and FSA was subsequently renamed Assured Guaranty Municipal Corp. (AGM).
  • March 2011 Making it possible for the first time for market professionals to purchase municipal bond insurance on an electronic trading platform, AGM began offering insurance at TheMuniCenter
  • July 2013  Assured Guaranty launched Municipal Assurance Corp. to insure only select categories of U.S. municipal bonds
  • April 2015  AGC acquired Radian Asset Assurance Inc. from Radian Guaranty Inc., and merged Radian Asset with and into AGC, with AGC as the surviving company
  • July 2016  AGC acquired the parent of financial guaranty insurer CIFG Assurance North America, Inc. (CIFG) and merged CIFG with and into AGC, with AGC as the surviving company
  • January 2017  AGC acquired MBIA UK Insurance Limited, the European operating subsidiary of MBIA Insurance Corporation. MBIA UK was subsequently renamed Assured Guaranty (London) Ltd. (AG London).
  • June 2017   Each of Assured Guaranty (Europe) Ltd., Assured Guaranty (London) Ltd. and Assured Guaranty (UK) Ltd. were re-registered as public limited companies.