U.S. Public Finance
Assured Guaranty is the leading provider of municipal bond insurance in the United States.
Our municipal credit enhancement products include:
- Municipal bond insurance policies covering principal and interest, for both new issues and those already trading in the secondary market
- Surety policies that take the place of cash-funded reserves in municipal bond transactions
- Specialized financial guaranty policies, such as swap sureties guaranteeing a municipal issuer’s obligations under a swap agreement with a broker-dealer
We guarantee a wide range of municipal bond types supported either by tax revenues or revenues from essential public projects or services. We insure both tax-exempt and taxable municipal bonds, such as Build America Bonds.
While we have three platforms – AGM, insuring only public finance transactions, MAC, insuring only U.S. municipal bonds in select categories, and AGC, a diversified provider -- we are one team, applying a uniform underwriting standard and dedicated to the highest level of customer service. In addition to our large municipal bond insurance department in our New York headquarters, we maintain a fully staffed western regional office in San Francisco.
During 2014, new municipal bond issues totaling more than $10.7 billion in par amount were sold with Assured Guaranty bond insurance, 43% more than in the prior year. Assured Guaranty also provided over $900 million of municipal bond insurance in the secondary market.
The 592 issues sold with Assured Guaranty insurance in the first half of 2015 had a total par insured of $8.7 billion, which is 124% higher than the par amount sold with our insurance in the first half of 2014 and represents a 61% share of the insured new-issue market. Additionally, Assured Guaranty provided more than $400 million of insurance in the secondary market.