History of Assured Guaranty

In its nearly four decades as a financial guarantor, Assured Guaranty has evolved to become the leading financial guaranty insurance company.

• September 1985 | Financial Security Assurance Inc. (FSA) began operations as a financial guaranty insurer. It would become Assured Guaranty Municipal Corp. (AGM) after its acquisition by Assured Guaranty in 2009.
• January 1988 | Capital Reinsurance Company began operations as a financial guaranty reinsurer. It would ultimately become Assured Guaranty Corp. (AGC), which is known today as Assured Guaranty Inc. (AG).
• March 1994 | KRE Reinsurance Ltd., a Bermuda insurance company, commenced operations. Its name was changed to Assured Guaranty Re Overseas Ltd. (AGRO) in 2004.
• April 1994 | FSA’s subsidiary Financial Security Assurance (U.K.) Limited received authorization to write insurance in the United Kingdom. It would ultimately become Assured Guaranty UK Limited (AGUK).
• December 1999 | ACE Limited acquired Capital Re Corp., the parent of Capital Reinsurance Company.
• August 2003 | ACE Limited formed Assured Guaranty Ltd. (AGL) to serve as the holding company for its insurance operating subsidiaries that are now known as AG, Assured Guaranty Re Ltd. (AG Re) and AGRO.
• April 2004 | AGL 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 Financial Services Authority authorized Assured Guaranty (UK) plc to write financial guarantees in the United Kingdom.
• December 2007 | AG Re assumed as reinsurance a diversified portfolio of financial guaranty contracts totaling approximately $29 billion in par from Ambac Assurance Corporation.
• 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.
• January 2009 | AG assumed as reinsurance US public finance debt insured by CIFG Assurance North America, Inc. (CIFG), totaling approximately $13 billion in par.
• July 2009 | Assured Guaranty completed the acquisition of FSAH and FSA, thereby bringing under one roof the two financial guarantors that successfully navigated the global financial crisis. FSAH was subsequently renamed Assured Guaranty Municipal Holdings Inc. (AGMH), and FSA was subsequently renamed Assured Guaranty Municipal Corp. (AGM).
• April 2015 | AG acquired Radian Asset Assurance Inc. from Radian Guaranty Inc., and merged Radian Asset with and into AG, with AG as the surviving company.
• July 2016 | AG acquired the parent of financial guaranty insurer CIFG and merged CIFG with and into AG, with AG as the surviving company. At the time of the acquisition, CIFG had a European operating subsidiary, CIFG Europe S.A. (CIFGE), which became a subsidiary of AG upon CIFG’s merger with and into AG.
• January 2017 | AG acquired MBIA UK Insurance Limited, the European operating subsidiary of MBIA Insurance Corporation, and subsequently renamed it Assured Guaranty (London) plc (AGLN).
• September 2017 | Assured Guaranty made its first investment in the asset management sector, acquiring a minority interest in Wasmer, Schroeder & Company, which it held until 2020, when The Charles Schwab Corporation acquired the firm.
• June 2018 | AG assumed substantially all of the insured portfolio of Syncora Guarantee Inc. (Syncora), and AGM commuted the reinsurance on a book of business it had previously ceded to Syncora. Additionally, Assured Guaranty began to administer the reinsured portfolio on behalf of Syncora.
• November 2018 | Assured Guaranty combined the portfolios and operations of its four U.K. and European financial guarantee insurance companies when it merged Assured Guaranty (UK) plc, AGLN, and CIFGE with and into Assured Guaranty UK Limited (AGUK), with AGUK as the surviving entity.
• July 2019 | In preparation for the U.K.’s withdrawal from the European Union (Brexit), Assured Guaranty established Assured Guaranty (Europe) SA (AGE) in France to service current business in the European Economic Area (EEA) and continue expanding its activity in Europe.
• October 2019 | Assured Guaranty acquired asset management firm BlueMountain Capital Management LLC to be the core of its asset management platform.
• September 2020 | Assured Guaranty rebranded BlueMountain Capital Management LLC as Assured Investment Management LLC.
• October 2020 | AGUK transferred certain of its financial guarantees to AGE to service them more effectively in light of Brexit.
• February 2023 | Assured Guaranty announced that it had established AG Analytics, a new municipal fintech platform, to provide broader, more comprehensive and convenient access to municipal credit and portfolio management analytics for the municipal market.
• July 2023 | Assured Guaranty contributed to Sound Point Capital Management, LP (Sound Point) most of its asset management business, other than that conducted by Assured Healthcare Partners LLC (AHP) and received approximately 30% of the common interests in Sound Point and certain other interests in its investment management affiliates. In a separate transaction, Assured Guaranty sold all of its equity interests in AHP.
• March 2024 | Assured Guaranty opened an office in Sydney, Australia to expand its reach within the Australian market.
• August 2024 | AGM merged with and into AG, with AG as the surviving company.