Insured Municipal

For help determining which Assured Guaranty company guaranteed your municipal bonds, please review the information below.  If you need additional assistance, please contact Investor Relations.

AGM

AGM, formerly known as Financial Security Assurance Inc., is a New York-domiciled financial guaranty insurer headquartered in New York.  AGM has operated since 1985 and insured U.S. municipal new issues since 1990.  If your Assured Guaranty bond identifies “FSA” or “AGM” as the insurer, then you should review financial information on AGM.  If you do not know the name of the insurer but your bond was issued prior to 2004, it was probably insured by AGM.  You can confirm the insurer via Bloomberg, in the Electronic Municipal Market Access database at emma.msrb.org or with your broker or investment advisor.

AGC

AGC is a Maryland-domiciled financial guaranty insurer headquartered in New York.  AGC was originally formed as a reinsurer and began insuring new issue U.S. municipal bonds in 2004.   If your Assured Guaranty bond identifies “AGC” or “Assured Guaranty Corp.”  as the insurer, then you should review financial information on AGC.  If you do not know the name of the insurer but your bond was issued prior to 2004, it was probably insured by AGM, not by AGC.  You can confirm the insurer or your bond via Bloomberg, in the Electronic Municipal Market Access database at emma.msrb.org or with your broker or investment advisor.

Bonds Insured by Radian Asset and CIFG

If your bond documents name the insurer as Radian Asset Assurance Inc. or CIFG Assurance North America, Inc., your bonds are insured by AGC, which acquired those companies in 2015 and 2016, respectively.  Each was merged with and into AGC, so their insurance policies are now direct obligations of AGC.