Assured Guaranty Inc. (AG) is our principal financial guarantor.

AG underwrites guaranties for U.S and non-U.S. public, infrastructure and structured financings. It is the leading guarantor of U.S. municipal bonds, providing its unconditional guaranty of principal and interest payments when due to protect investors and reduce financing costs for bond issuers.  It also offers custom financial guaranty products to optimize capital utilization for institutions’ asset portfolios and credit enhancement tools for the fund finance market. AG has been operating since 1988 and was named Assured Guaranty Corp. (AGC) until May 2024. AG is domiciled in Maryland with headquarters in New York.

On August 1, 2024, AG’s affiliate AGM merged with and into AG, with AG as the surviving company. The merger enlarged AG’s investment and insured portfolios, capital base and claims-paying resources, further diversified its insured portfolio’s credit profile and allowed more efficient use of capital. By operation of law, AGM-insured securities became guaranteed obligations of AG and have the same terms as when they were issued. The only difference is that claims, if any, will be paid by AG.  AGM’s European subsidiaries Assured Guaranty UK Limited (AGUK) and Assured Guaranty (Europe) SA (AGE) are now subsidiaries of AG and continue to operate as they did previously. Any obligations of AGM with respect to AGUK or AGE financial guaranties have become obligations of AG.

AG acquired Radian Asset Assurance Inc. (Radian Asset) on April 1, 2015 and CIFG Holding Inc., the parent of financial guaranty insurer CIFG Assurance North America, Inc. (CIFG) on July 1, 2016.  Both Radian Asset and CIFG merged with and into AG, with AG as the surviving company.  Bonds insured by both acquired companies have therefore become insured obligations of AG and are supported by AG’s claims-paying resources. AG also acquired CIFG’s European subsidiary, CIFG Europe S.A.

AG also acquired MBIA UK Insurance Limited on January 10, 2017, changed its name to Assured Guaranty (London) Ltd. (AGLN), and maintained AGLN as a separate subsidiary until selling it to AGM as described below.  AGLN was re-registered as a public limited company (plc) on June 1, 2017.  For more information on AGLN, see Answers to Questions About AGC's Acquisition of MBIA UK Insurance Limited.

On June 26, 2017, AG sold AGLN, CIFG Europe and its other direct European subsidiary, Assured Guaranty (UK) Ltd., to AGM, which contributed them to Assured Guaranty UK Limited.

Bonds insured by AG, including those originally insured by other companies or affiliates, are obligations of AG solely, and are not obligations of, or guaranteed or otherwise supported by, Assured Guaranty Ltd. or any of its other subsidiaries.

AG is party to committed capital securities agreements with certain special purpose trusts that issued committed capital securities. Under the agreements, AG has the ability to exercise put options to raise up to $400 million of capital at any time.

Certain AG-insured bonds that were not previously rated by S&P received S&P Ratings on January 13, 2017 at AG's request and cost (see press release and list of affected transactions). 

For additional information or questions about AG, please contact Investor Relations.