Hashtag: #Assured
S&P Upgrades Assured’s Operating Subsidiaries
Standard & Poor’s Ratings Services has raised to AA Stable Outlook [from AA- Stable Outlook] the financial strength ratings of bond insurers Assured Guaranty Municipal Corp., Municipal Assurance Corp. and Assured Guaranty Corp., European financial guarantors Assured Guaranty Ltd. and Assured Guaranty Ltd., and reinsurer Assured Guaranty Re Ltd.,... Read more of this article
Assured Guaranty Ltd. Reports 2013 Q3 Results
Bermuda-based Assured Guaranty Ltd. announced its financial results for the three-month period ended September 30, 2013 [third quarter 2013]. The Company reported operating income for third quarter 2013 of $117 million, or $0.64 per share, bringing operating income for the nine-month period ended September 30, 2013 [nine months 2013] to $475 million,... Read more of this article
Assured, JPMorgan Agree to End Mortgage Suits
Assured Guaranty Ltd. and JPMorgan Chase & Co. agreed to settle lawsuits filed by the bond insurer accusing the bank’s EMC Mortgage and Bear Stearns units of making misrepresentations about mortgage-backed securities, Bloomberg reports. Assured Guaranty Corp., a New York-based unit of the Bermuda-based bond insurer, sued EMC, J.P. Morgan Securities... Read more of this article
Assured Guaranty Declares $0.10 Dividend
Bermuda-based Assured Guaranty Ltd. declared a quarterly dividend of $0.10 per common share. The dividend is payable on September 4, 2013 to shareholders of record at the close of business on August 21, 2013. Related Stories Assured Guaranty Rebrands BlueMountain Assured Completes Acquisition Of BlueMountain Assured & Syncora Complete Transaction Assured... Read more of this article
Assured Guaranty Launch Municipal Assurance
Bermuda-based Assured Guaranty Ltd. announced the launch of Municipal Assurance Corp. [MAC], a new municipal bond insurance company that will insure only select categories of U.S. municipal bonds. The new company opens for business with $1.5 billion of claims-paying resources, financial strength ratings of AA+ (stable outlook) from Kroll Bond Rating... Read more of this article
US Bank In $105M Settlement With Assured
Flagstar Bancorp Inc. of Troy, New York agreed to pay Bermuda-based Assured Guaranty Ltd. $105 million to settle a lawsuit filed by the bond insurer, which accused the bank of misrepresenting the quality of loans within $902 million worth of home mortgage-backed securities issued in 2005 and 2006. In February, the US District Court in the Southern District... Read more of this article
Assured Guaranty Repurchases Ross Shares
Bermuda-based Assured Guaranty Ltd. has agreed to purchase, as part of its previously announced share repurchase programme, five million of its common shares held by Wilbur L. Ross, Jr. and funds managed by WL Ross & Co. LLC [WLR] and its affiliates. The purchase price of $21.94 per share is a three percent discount from the Friday [May 31] New... Read more of this article
Assured Guaranty Corp. Hires Jeffrey M. Brown
Assured Guaranty Corp. [AGC] — a wholly owned, indirect subsidiary of Bermuda-based holding company Assured Guaranty Ltd. — has hired Jeffrey M. Brown as a director in its Financial Institutions group. He will focus on developing solutions for insurance industry clients and report to Dan Bevill, managing director of Financial Institutions. “It’s... Read more of this article
Judge Rules Stockton Eligible For Bankruptcy
Stockton is eligible for bankruptcy protection, a federal judge ruled on Monday [Apr.1], saying the California city was in fact broke and negotiated with its creditors — including Bermuda-based Assured Guaranty — in good faith last year before seeking Chapter 9 protection. US Bankruptcy Judge Christopher Klein scolded Wall Street creditors... Read more of this article
Assured Guaranty Subsidiary In Ohio Deal
Assured Guaranty Corp. — a subsidiary of Bermuda’s Assured Guaranty Ltd. — announced today [Apr. 3]that it has reached an agreement on a forbearance and restructuring plan with Iowa’s Xenia Rural Water District. The plan provides for the full repayment of all claims made under the bond insurance policy for Xenia’s Water... Read more of this article
Assured Guaranty Reports Q2 Results
Bermuda-based Assured Guaranty Ltd. announced its financial results for the three-month period ended June 30, 2012. The Company reported operating income for second quarter 2012 of $114.0 million, or $0.61 per diluted share, bringing year-to-date operating income for the six-month period ended June 30, 2012 to $185.2 million, or $0.99 per diluted share.... Read more of this article
Assured Declares Quarterly Dividend Of $0.09
Bermuda-based Assured Guaranty Ltd. today declared a quarterly dividend of U.S. $0.09 per common share. The dividend is payable on August 29, 2012 to shareholders of record at the close of business on August 15, 2012. Assured Guaranty Ltd. will issue its financial results for the quarter ended June 30, 2012 after 5:00 p.m. Atlantic Time on Thursday,... Read more of this article
Assured Guaranty Responds To Moody’s Ratings
Moody’s Investors Service recently published two sets of reports on Assured Guaranty, parent company of Bermuda based subsidiary Assured Guaranty Re Ltd. In the first report, dated March 20, 2012, Moody’s placed the Insurance Financial Strength ratings of Assured Guaranty Municipal Corp. and Assured Guaranty Corp. on review for possible downgrade,... Read more of this article
US Judge Upholds Assured Guaranty Suit
A federal judge on Wednesday [Feb.29] denied a motion by Flagstar Bank to dismiss a lawsuit by a Bermuda firm alleging that Michigan’s biggest bank breached a series of contracts insuring nearly $1 billion in loans in securities backed by home equity loans. Assured Guaranty Municipal Corp., a subsidiary of Bermuda’s Assured Guaranty Ltd.,... Read more of this article
